Kitap Bölümü Finans
Money and banking in an islamic economy
- Yazarlar : Muhammad Umar Chapra
- Editörler : Ariff M.
- Kodu: 6355
- Eserin Orjinal İsmi: Money and banking in an islamic economy
- Türü: Kitap Bölümü
- Alan: Finans
- Konu(lar): Para, Bankacılık
- Dili: İngilizce
- Yayın Yılı: 1982
- Kitap Ismi: Monetary and Fiscal Economics of Islam
- Yayın Yeri: Jeddah
- Yayınevi: International Centre for Research in Islamic Economics, King Abdulaziz University
- Sayfa Aralığı: 145-186
- Keywords: Money, Banking
- Anahtar Kelimeler: Para, Bankacılık
- Açıklama: The key thrust of this paper is that the money and banking system as practised in the capitalist’s world is not value free. Thus section two provides the philosophical underpinning arguing that the capitalist money and banking system has its own ideological setting and cannot serve the cause of Islamic socio-economic goals if Riba is abolished, unless some fundamental changes are introduced to set it in the ideological mould of Islam. In the light of these radical changes section three provides the institutional setting which, though it may appear to be similar to the existing framework, is radically different in its scope and responsibilities. Section four discusses the management of monetary policy in the new setting, while section five tests theoretically the proposed programme against the goals discussed in section two. Finally, section six gives some tentative suggestions for the gradual transition of the money and banking framework in Muslim countries from its present setting to the suggested scheme for realizing the objectives of Islam. The author takes cognizance of the fact that money is a public good - not a ‘pure’ public good - and hence its creation and channeling into appropriate directions necessary for the realisation of the socio-economic goals of Islam cannot be left to the whims of the ‘invisible’ hand. It must be consciously regulated. The implementation of Islamic values and institutions including profit-sharing and equity participation, along with a goal-oriented role to be played by the state, will provide the mechanism for such channeling. The paper provides some specific suggestions for the realisation of social justice and elimination of concentration of wealth. Some of the main features of the model include reduction in the power of financial institutions, increase in the equity/loan ratio, spreading of the ownership of business in society and reform of the stock market. The author advocates that capital deepening and profit-sharing could give the developing countries a big push in real terms in their early stages of development.
- Bilgilerin Alındığı Kaynak: Bibliografya Kaydı
Kitap Bölümü
Money and banking in an islamic economy
Yazarlar : Muhammad Umar Chapra
Editörler : Ariff M.
Detaylar
| Kodu | 6355 |
| Eserin Orjinal İsmi | Money and banking in an islamic economy |
| Türü | Kitap Bölümü |
| Alan | Finans |
| Konu(lar) | Para, Bankacılık |
| Dili | İngilizce |
| Yayın Yılı | 1982 |
| Kitap Ismi | Monetary and Fiscal Economics of Islam |
| Yayın Yeri | Jeddah |
| Yayınevi | International Centre for Research in Islamic Economics, King Abdulaziz University |
| Sayfa Aralığı | 145-186 |
| Keywords | Money, Banking |
| Anahtar Kelimeler | Para, Bankacılık |
| Açıklama | The key thrust of this paper is that the money and banking system as practised in the capitalist’s world is not value free. Thus section two provides the philosophical underpinning arguing that the capitalist money and banking system has its own ideological setting and cannot serve the cause of Islamic socio-economic goals if Riba is abolished, unless some fundamental changes are introduced to set it in the ideological mould of Islam. In the light of these radical changes section three provides the institutional setting which, though it may appear to be similar to the existing framework, is radically different in its scope and responsibilities. Section four discusses the management of monetary policy in the new setting, while section five tests theoretically the proposed programme against the goals discussed in section two. Finally, section six gives some tentative suggestions for the gradual transition of the money and banking framework in Muslim countries from its present setting to the suggested scheme for realizing the objectives of Islam. The author takes cognizance of the fact that money is a public good - not a ‘pure’ public good - and hence its creation and channeling into appropriate directions necessary for the realisation of the socio-economic goals of Islam cannot be left to the whims of the ‘invisible’ hand. It must be consciously regulated. The implementation of Islamic values and institutions including profit-sharing and equity participation, along with a goal-oriented role to be played by the state, will provide the mechanism for such channeling. The paper provides some specific suggestions for the realisation of social justice and elimination of concentration of wealth. Some of the main features of the model include reduction in the power of financial institutions, increase in the equity/loan ratio, spreading of the ownership of business in society and reform of the stock market. The author advocates that capital deepening and profit-sharing could give the developing countries a big push in real terms in their early stages of development. |
| Bilgilerin Alındığı Kaynak | Bibliografya Kaydı |