Kitap Bölümü Finans
Islamic approaches to money, banking and monetary policy - a review
- Yazarlar : Muhammad Nejatullah Siddiqi
- Editörler : Ariff M.
- Kodu: 6354
- Eserin Orjinal İsmi: Islamic approaches to money, banking and monetary policy - a review
- Türü: Kitap Bölümü
- Alan: Finans
- Konu(lar): İslami Yaklaşımlar, Para
- Dili: İngilizce
- Kitap Ismi: Monetary and Fiscal Economics of Islam
- Yayın Yeri: Jeddah
- Yayınevi: International Centre for Research in Islamic Economics, King Abdulaziz University
- Sayfa Aralığı: 25-42
- Keywords: Islamic Approaches, Money
- Anahtar Kelimeler: İslami Yaklaşımlar, Para
- Açıklama: This paper is in the nature of a review of the literature up to 1977. It sets the perspective in which later contributions can be meaning fully studied. It covers that Islamic economists have written about the nature of money and its functions, and the demand for money in an Islamic economy. The nature of bank money or credit, its desirability or otherwise, and the possible ways of its management also come up for discussion. The idea of hundred percent reserves is also examined in this context as are the suggestions to confine creation of credit to the Central Bank. The essay surveys the major contributions to the subject of interest-free banking reporting the various viewpoints on such issues as supply of short-term interest-free loans, bills of exchange, financing the consumer and financing the government. The paper reviews the various writings on central banking and monetary policy in an Islamic framework, examining the various policy instruments discussed by our writers. This includes the suggestion to use profit-sharing ratios as an instrument of policy, besides the reserve ratio, selective credit control and open market operation through sale and purchase of shares, etc. The main conclusion is that abolition of interest has become the hallmark of Islamic economics in modern times. Here lies the greatest challenge for Islamic economists: to justify it by a fresh analysis of money and its role in the economy, and present an operational model of interest-free banking which may convince modern man that Islam’s economic system based largely on the twin principles of Zakah and abolition of Riba is more just and more efficient than any other alternative.
- Bilgilerin Alındığı Kaynak: Bibliografya Kaydı
Kitap Bölümü
Islamic approaches to money, banking and monetary policy - a review
Yazarlar : Muhammad Nejatullah Siddiqi
Editörler : Ariff M.
Detaylar
| Kodu | 6354 |
| Eserin Orjinal İsmi | Islamic approaches to money, banking and monetary policy - a review |
| Türü | Kitap Bölümü |
| Alan | Finans |
| Konu(lar) | İslami Yaklaşımlar, Para |
| Dili | İngilizce |
| Kitap Ismi | Monetary and Fiscal Economics of Islam |
| Yayın Yeri | Jeddah |
| Yayınevi | International Centre for Research in Islamic Economics, King Abdulaziz University |
| Sayfa Aralığı | 25-42 |
| Keywords | Islamic Approaches, Money |
| Anahtar Kelimeler | İslami Yaklaşımlar, Para |
| Açıklama | This paper is in the nature of a review of the literature up to 1977. It sets the perspective in which later contributions can be meaning fully studied. It covers that Islamic economists have written about the nature of money and its functions, and the demand for money in an Islamic economy. The nature of bank money or credit, its desirability or otherwise, and the possible ways of its management also come up for discussion. The idea of hundred percent reserves is also examined in this context as are the suggestions to confine creation of credit to the Central Bank. The essay surveys the major contributions to the subject of interest-free banking reporting the various viewpoints on such issues as supply of short-term interest-free loans, bills of exchange, financing the consumer and financing the government. The paper reviews the various writings on central banking and monetary policy in an Islamic framework, examining the various policy instruments discussed by our writers. This includes the suggestion to use profit-sharing ratios as an instrument of policy, besides the reserve ratio, selective credit control and open market operation through sale and purchase of shares, etc. The main conclusion is that abolition of interest has become the hallmark of Islamic economics in modern times. Here lies the greatest challenge for Islamic economists: to justify it by a fresh analysis of money and its role in the economy, and present an operational model of interest-free banking which may convince modern man that Islam’s economic system based largely on the twin principles of Zakah and abolition of Riba is more just and more efficient than any other alternative. |
| Bilgilerin Alındığı Kaynak | Bibliografya Kaydı |