ABSTRACT
African economic theory will then lead to the Integral African Development Economic Model, which crystallizes all the economic thinking covered in this study to set the course for Islamic finance in Nigeria, looking at very practical issues or the application of the model and the overall achievements of this research-to-action. These include: setting up Islamic finance in a local bank (an effective laboratory), influencing regulators through the co-operative inquiry (as part of a doctoral thesis undertaken for a navigational ‘Mode-2’ university), establishing a research centre (an emergent ‘sanctuary’ or reflective space for co-evolving science and society), and finally, building an integral financial institution (communal grounding). In other words, the practice of the theory was already established at inception, in effect evolving a knowledge-and value-production system, as is fitting for the Mode-2 University that is the DaVinci Institute (Nowotny, in Lessem and Schieffer 2010b).
