Yazar : S. Rafi Khan

Kitap Finans 1987

Profit Loss Sharing

In the first two chapters discusses the perspective of Islamic political economy. The third chapter traces the evolution and issues of Islamic banking in actual practice. Discusses various structures of Islamic banking. The distinctive features of PLS are that loans are tied to productive, non-speculative investment. Ownership rights are not traded by being a party to a PLS contract. Suggests a model of PLS banking in which banks operate purely as intermediaries with a 100% reserve base. They would not create any credit. They would charge a fixed administrative fee for their services. Also discusses the economic implications of PLS and monetary policy under PLS. Examines the controversies about various forms of land tenure; concludes that all the views are inconsistent with the general commercial principle of profit-sharing. Proposes to apply PLS to agriculture. The parties to share the net surplus in agriculture would be: farmer, land-owner and the community (via a tax on the produce of land). Describes, evaluates and criticises the experiment of Islamic banking in Pakistan. For economists. Based on primary sources. Documented.

Political Economy of an Islamic System

Surveys contemporary works in Islamic studies that have a bearing on the Islamic political economy. The issues examined are: secularists vs. Islamists, the orthodox vs. modernists, Islamic political theory, Islam and Marxist socialism, social justice, zakah, riba and political economic mechanism of an Islamic state. Synthesises the consensus as well as main standards of disagreement in each case. A scholarly paper. For Muslim scholars. Based on primary as well as secondary sources. Documented.