Yazar : Ziaul Haque

Makale Finans 1989

Riba and Interest

Monetary and Financial Theory and Institutions

Makale Finans 1988

Converting From Western to Islamic Banking

Monetary and Financial Theory and Institutions

Islam and Feudalism: The Economics of Riba, Interest and Profit

Explains pre-Islamic riba, the Qur’anic concept of ribia and riba al-fadl. Argues that ribci does not cover only loan capital or consumption loans. It covers all usurious practices of sale as well which include fraud, cheating, profiteering, speculation, unearned income of rent (of land). All forms of land rent are riba. Similarly, muddraba though allowed by medieval jurists as an ancient practice, cannot be applied to the contemporary scene as it has, inherent in it, elements of exploitation. Favours socialisation of all means of production, which he thinks the Prophet wanted, but the tide was turned by the Umayyads’ feudalism. The later jurists rationalised these feudalistic practices and thus the pristine Islam was lost. Based on primary sources of Islam, the book contains avoidable repetitions. Meant for jurists and Muslim economists. Documented.

Makale Finans 1983

Some Forms of Riba al-Fadl in Trade and Commerce

Explains the concept of riba al-fadl and some of its specific forms: bai‘ al-gharar, muzara‘a, mudaraba, bai‘ habal al-habala, muzabana, ihtikar, sarf, 'ina. Discusses in detail the juristic contradictions in the application of this concept in traderand commerce. A scholarly paper. Based on primary sources. For ‘ulama’ and economists. Documented.

Review of “Studies in Islamic Economics"

A review article on Khurshid Ahmad’s (ed.) book Studies in Islamic Economics, (Leicester: The Islamic Foundation, 1981, pp. 274). Summarises all the nine papers presented in the First International Conference on Islamic Economics, Makka, 1976. Disagrees with the entire thought content and with the idea of Islamic economics. Considers that all the papers are based on idealistic axioms and removed from social reality, the authors have retained the basic feudalistic, bourgeois structure of society and have transplanted certain economic theories which had relevance to the medieval reality, and have used a framework which wouldipermit perpetuation of the present-day exploitative capitalist structure. Especially, he criticises the relevance of mudaraba for the present-day society. Similarly, he disagrees with the meaning of riba as interest, it being too narrow. Points out the need to develop an original methodological framework based on the social reality. For Muslim economists. Undocumented.

Makale Finans 1982

The Nature of Riba aI-Nasi’a and Riba al-Fadl

Monetary and Financial Theory and Institutions

The Theory of Mudarabah (Profit Sharing) in Islamic Jurisprudence

Presented at International Seminar on Monetary and Fiscal Economics of Islam

Makale Finans 1980

Riba, Interest and Profit

Monetary and Financial Theory and Institutions