Interest In Islamic Economics
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Interest In Islamic Economics
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Author : Abdulkader Thomas
language : en
Publisher: Routledge
Release Date : 2005-12-12
Interest In Islamic Economics written by Abdulkader Thomas and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-12 with Business & Economics categories.
This book offers collaborating understandings of the Islamic economic concept. Linguistics, classical juridical analysis, historical context and modern economics build this framework for the understanding of riba.
Towards An Interest Free Islamic Economic System
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Author : Waqar Masood Khan
language : en
Publisher:
Release Date : 1985
Towards An Interest Free Islamic Economic System written by Waqar Masood Khan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Business & Economics categories.
This text investigates the implications of eliminating "riba" from the financial system and brings the problem into the domain of mainstream economics.
The Causes And Consequences Of Interest Theory
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Author : Cem Eyerci
language : en
Publisher: Springer Nature
Release Date : 2021-07-07
The Causes And Consequences Of Interest Theory written by Cem Eyerci and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-07 with Business & Economics categories.
Interest has always been a part of humans' daily economic life, and the concept of interest has attracted intense attention from economists, philosophers, religious scholars and lawmakers. This book analyses the issue of prohibition of interest through the lens of conventional economics and then makes a comparison with the position of Islamic economists. It evaluates the theory of interest presented by Böhm-Bawerk, which is the most respected and applicable theory at present. It provides an in-depth analysis of the current literature, and it is the first book to scrutinize the interpretation of Islamic economists on the concepts of time preference and interest rate control. This book will be of interest to academics and students of economics and Islamic economics.
Islamic Finance
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Author : P. Mills
language : en
Publisher: Springer
Release Date : 2015-12-17
Islamic Finance written by P. Mills and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-17 with Business & Economics categories.
Given the propensity of the world financial system to crisis, this book explores the radical alternative put forward by Islamic (and Western) theories of non-interest banking. The Islamic critique of interest and early experiments with non-interest banking are assessed against the conventional theories regarding banking, company finance and macroeconomic stability. Whilst the experience of Islamic banking has proved inconclusive thus far, the theoretical model provides a cogent alternative to a financial system made fragile by debt contracts.
Economics Of An Islamic Economy
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Author : Rauf A. Azhar
language : en
Publisher: BRILL
Release Date : 2010
Economics Of An Islamic Economy written by Rauf A. Azhar and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
This book challenges the interventionist stance of Islamic economics as well as its presumption that "riba" equals interest. An Islamic economy, it argues, is essentially a market economy, but it differs from capitalist economies because both its institutions and the structure of, for example, property rights are specifically Islamic, deriving from Qur n and other sources of Islamic law. The book also focuses on the similarities and differences between "riba" and interest, establishes the often neglected connection between the two, and explores the ramifications of this connection for Islamic financial systems.
The Foundations Of Islamic Economics And Banking
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Author : Abdulrahman Haitham Shoukat Kabbara
language : en
Publisher: Partridge Publishing Singapore
Release Date : 2014-05-23
The Foundations Of Islamic Economics And Banking written by Abdulrahman Haitham Shoukat Kabbara and has been published by Partridge Publishing Singapore this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-23 with Political Science categories.
The first part of this book is designed to display the sources and principles of economics and trade transactions in the Islamic community. It analyzes the judicial injunctions against riba and proves that riba including interest is prohibited. Basing the argument on theoretical (Quran and Sunna) as well as the customary practice during the life of the messenger of God in Mekka and Al-Madina. Notably, the Islamic teachings covers both the worldly and religious affairs. This is a very revealing indication that Islam does not only regulate the relations of the human beings with God, but also extends to regulating (i) the relationship of the ruler with the ruled through al-shura, and (ii) economic and financial transactions in the market. Notable among these transactions: a) the abolition of riba and instigating interest-free economy, (b) providing the basic needs of society, (c) achieving social justice by applying zakat levy and other ordinances, and last but not least inheritance law and redistribution of State land for public benefits. The second and third part of the book explains and proves that prohibition of riba does not circumvent trade or paralyze the economy. On the contrary by eliminating injustice inherent in riba, the banking system will be liberated from discrepancies and the economy will perform more efficiently by mitigating the evils of riba.
Islamic Monetary Economics And Institutions
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Author : Muhamed Zulkhibri
language : en
Publisher: Springer Nature
Release Date : 2019-10-01
Islamic Monetary Economics And Institutions written by Muhamed Zulkhibri and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-01 with Business & Economics categories.
This edited volume explores theoretical and empirical issues related to monetary economics and policy in the Islamic financial system. Derived from the Conference on Islamic Monetary Economics and Institutions: Theory and Practice 2017 held in Malé, Maldives, the enclosed papers highlights several option for authorities and regulatory bodies regarding monetary policy and regulation, as well as discussing how Islamic monetary policy effects growth, financial stability and resilience to shocks in practice. The inter-linkage between Islamic monetary policy and other markets are also explored. The subject of Islamic economics has gained considerable attention in the last four decades with the emergence of Islamic financial institutions around the world. This phenomenon has motivated economists to develop a comprehensive theoretical framework of modern monetary economics for Islamic economic system. An important characteristic of the Islamic economic system is the abolition of interest from the financial system. Islamic monetary economics is distinguished from conventional monetary economics due to the absence of interest. Therefore, under the Islamic economic system, monetary policy has to depend on other tools. In the early theoretical literature on Islamic monetary economics, many have discussed the role of money in Islamic economics system, while the number of empirical studies on Islamic monetary economics is a relatively new phenomenon. According to Islamic scholars, there are three main goals of Islamic monetary policy: a) economic well-being with full employment and optimum rate of economic growth; b) socioeconomic justice and equitable distribution of income and wealth and c) stability in the value of money. Hence, the Islamic monetary policy has several socioeconomic and ethical implications. Featuring regional case studies, this book serves as a valuable resource for academics, scholars, practitioners and policy makers in the areas of Islamic economics and finance.
Modelling Interest Free Economy
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Author : Muhammad Anwar
language : en
Publisher: International Institute of Islamic Thought (IIIT)
Release Date : 1987
Modelling Interest Free Economy written by Muhammad Anwar and has been published by International Institute of Islamic Thought (IIIT) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Business & Economics categories.
General equilibrium macroeconomic models are considered essential for evaluating the impact of monetary and fiscal policies in an economy. This aspect has not received, until now, significant attention. This present work, by Dr. Muhammad Anwar, develops general equilibrium models of income determination suitable for interest-free economies. It can be used to understand several implications of making a transition from the conventional financial system to an interest-free financial system. There are numerous Muslim countries seeking to adopt the new interest-free system. These countries may find it usefrrl to utilize the insights gained from such study to facilitate the establishment of an Islamic interest-free financial system. The economic model offered in this book also shows clearly and scientifically that ifthe interest-based financial system is replaced by the interestfree financial system, then the real rates of return for savers and investors in the economy will be preserved during inflationary and deflationary periods. On the other hand, financial repression results when savers are badly hurt during inflationary periods in an interest-bearing economy. This study demonstrates that the inflation-ridden developing countries would be definiæly better offif they adopt the inærest-free financial system in place of the prevalent interest-bearing sysæm. This pioneering work is a new addition to the library of Islamic Economics and an important aid to economic planners and students of Islamic Economics.
Essays In Islamic Economics
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Author : M. Fahim Khan
language : en
Publisher:
Release Date : 1995
Essays In Islamic Economics written by M. Fahim Khan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
Understand the basic concepts of Islamic economics--what it's all about and what it can offer.
What Is Wrong With Islamic Economics
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Author : Muhammad Akram Khan
language : en
Publisher: Edward Elgar Publishing
Release Date : 2013-01-01
What Is Wrong With Islamic Economics written by Muhammad Akram Khan and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-01 with Business & Economics categories.
ÔI read with great interest the current state of Islamic economics and finance as examined by Muhammad Akram Khan, who has given a fresh outlook for the readers to find out its limitations and to search for its solutions. Khan has read widely in the subject matter, and presented his views with reference to literature and thoughtful and logical arguments. While many may not agree with his arguments or will have a better explanation, I find his arguments at least worthy of examination to strengthen the arguments of those who might oppose him. Although Khan is critical of the subject matter, he is very sympathetic to the greater objectives of Islamic economics and provides his own prescriptions to achieve those objectives.Õ Ð M. Kabir Hassan, University of New Orleans, US ÔThis is a very thought provoking book coming at a crucial stage in the development of Islamic economics and finance. Although the reader may not agree with some of the conclusions reached, it is clearly a scholarly and extensively researched piece of work; it should be read by all serious students of the subject area. Amongst other things, it throws light on the reasons why the practical implementation of Islamic economics and finance, particularly in relation to the financial system and financial institutions, has not always conformed to the true theoretical foundations laid down by Islamic scholars.Õ Ð John Presley, Loughborough University, UK and recipient of Islamic Development Bank Prize in Islamic Finance, 2001Ð2002 ÔÒIslamic economic system is a type of capitalism with a spiritual dimensionÓ is a major conclusion of this book. I applaud this insight of Muhammad Akram Khan. The same can be perhaps said of Islamic finance, which, in its hurry to build viable and efficient financial institutions, has ignored the very same need to start with profits-and-risk-sharing principle and no-riba principles to build pricing models to anchor the new sub-discpline. The good news is that, in the course of time to come, AkramÕs advocacy may be realised since such serious works have already begun.Õ Ð Mohamed Ariff, University Putra Malaysia and Bond University, Australia ÔAlthough there are many books on Islamic economics, this critical, but sympathetic, account by Muhammad Akram Khan is worthy of attention. The author has clearly read widely on the subject and appreciates the limitations of much that he has read. Islamic economics is a work in progress and by focusing on its shortcomings, Khan challenges the assumptions of many working in the field. His discussion of methodology is insightful, and even the prohibition of riba, for many the defining characteristic of Islamic finance, is examined from a fresh perspective. While many will not agree with the analysis and the conclusions, even critics should be able to appreciate the strengths of the arguments made. In summary this is a worthwhile, and in many respects an innovative, survey of the state of Islamic economics and finance. It deserves to be widely read.Õ Ð Rodney Wilson, Durham University, UK What is Wrong with Islamic Economics? takes an objective look at the state of the art in Islamic economics and finance. It analyses reasons for perceived stagnation and also suggests a way forward. As well as probing various myths, the book presents several innovative ideas and a methodology for developing the subject on new foundations. It also highlights weaknesses in the conventional position on prohibition of interest, which has led Islamic banks devise a series of legal tricks. The author notes how the original aim of devising a new brand of banking has become less prominent whilst Islamic banks now position themselves more closely to conventional banks. The book also offers insights into how certain traditional thinking has seemingly ignored the egalitarian spirit of the law of zakah and created a scenario where zakah is not able to help the billions of poor people around the globe. This detailed book will appeal to students, professors, researchers, Islamic banks and finance houses, consulting companies, accounting firms, and regulatory bodies. Professional economists, libraries in research and training organizations, as well as anyone with a general interest in the topic will find much to interest them.