Khurshid Ahmad is one of the pre-eminent writers of contemporary Islamic world. Indeed, the recognition he has received from Western as well as Islamic world testifies to his stature as world intellect figure. Khurshid is advocating the Islamic reforms as a remedy for all the human problems since his very early academic career lectures, editorial work, speeches, dialogues and seminars which have recognized beyond boundaries. Though he has not written as extensively as many others, contemporary Islamic and conventional economist did, whatever he produced is convincing and reflects his intellectual capability. Unlike others legists and thinkers of contemporary Islamic economics, those merely attempted to justify the specific cases on the basis of precedent and their works are only theoretical and have never been recognized for practical implications or could not brought significant movement in the Islamic world, Khurshid had developed a systematic attempt for developing Islamic economics as an applied discipline. This paper attempts to highlight his immense contribution towards Islamic economic thought in the modern times focusing on his perception of Islamic economics.