Money, Islamic Banks and the Real Economy
Money, Islamic Banks and the Real Economy

Author: Abdul Ghafar Ismail

Publisher:

Published: 2010-01-01

Total Pages: 534

ISBN-13: 9789814281683

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This book is intended to develop some important discourses on three important subjects, that is, money, Islamic banks and the real economy. The discussion on money will highlight the role of money as capital. It starts with an understanding of why money is so important to the smooth functioning of the economy and how it improves human well-being, we need to understand exactly what money is. To quantify the impact of money on the economy, we need to be able to measure it. The goal of these discussions is to understand what the concept of money is, how we use it, how we measure it and how we channel it to Islamic banking.

Money in Islam
Money in Islam

Author: Masudul A. Choudhury

Publisher: Routledge

Published: 2005-10-09

Total Pages: 344

ISBN-13: 1134714459

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This volume takes a unique and challenging look at how money has operated in Islamic society and at how Islamic theoretical frameworks have influenced perceptions of money. The author draws upon historical, data and policy analysis to present a comparative study of monetary theories, including recent treatment of money by Islamic economists. Discussion also covers the nature of joint venture, stock markets, banks and financial intermediaries, price stability and international trade. This work sheds pioneering light in this area, and will be of interest to academics, graduates and researchers internationally.

Islamic Money and Banking
Islamic Money and Banking

Author: Iraj Toutounchian

Publisher: John Wiley & Sons

Published: 2011-12-27

Total Pages: 281

ISBN-13: 111817884X

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This book examines how money, in the absence of interest (Riba) and money market can become an endogenous variable of an economic system. It further tries to integrate money in capital theory and to make monetary sector part of the real sector aiming at removing the problems that arise from separation of the two.

Islamic Monetary Economics
Islamic Monetary Economics

Author: Taha Eğri

Publisher: Routledge

Published: 2020-12-10

Total Pages: 257

ISBN-13: 1000289974

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The existence of fiat currencies has long been cited as one of the major contributing factors to the challenges facing contemporary economies, and the current monetary system is not only a key source of exorable increases in interest rates but also a principal cause of inflation and decline in the value of money in many countries. The editors argue that an Islamic monetary system, with its specific money concepts, interest-free financial institutions, and monetary policy embedded in real growth, provides a solution to this conundrum. Contributions from many world-renowned experts consider a wide array of topics, ranging from the theoretical concepts of money and banking in conventional and Islamic economics to the historical journey of money from precious metals to plastic money and digital currency today. The book outlines the problems that sprout from interest-based banking and multiple debt structures. It then mirrors the Islamic concepts of money as well as idiosyncrasies of its monetary policy. Supported with meticulous research and empirical evidence, the book demonstrates the efficacy of Islamic monetary system in delivering real growth along with equitable distribution of wealth and prosperity in the economy. It additionally acquaints the readers with juristic debates about money and monetary policy. This is essential reading for both students and researchers in Islamic economics, banking, and finance, expertly promoting a fair and just economic system that emerges as a result of interest-free banking and monetary policy based on Islamic principles.

Islamic Finance in the Global Economy
Islamic Finance in the Global Economy

Author: Ibrahim Warde

Publisher: Edinburgh University Press

Published: 2014-03-11

Total Pages: 289

ISBN-13: 0748696474

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A second edition of Islamic Finance in the Global Economy, substantially revised and updated to take into account the recent developments in the field.

Islamic Banking and Finance
Islamic Banking and Finance

Author: Munawar Iqbal

Publisher: Edward Elgar Publishing

Published: 2002-01-01

Total Pages: 270

ISBN-13: 9781843765318

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It is a well-known fact that conventional commercial banks provide financial intermediation services on the basis of interest rates on assets and liabilities. However, since interest is prohibited in Islam, Islamic banks have developed several other modes through which savings are mobilized and passed on to entrepreneurs, none of which involve interest. Islamic Banking and Finance discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit-sharing (as opposed to debt-based) contracts are highlighted, and the ways in which they can facilitate improved efficiency and stability of a financial system are explored. The authors illustrate that in addition to some 200 Islamic banks operating in Muslim as well as non-Muslim countries, some of the biggest multinational banks are now offering Islamic financial products. This book will fascinate students, researchers and academics with a special interest in comparative banking, middle-eastern studies and international finance, and will also appeal to practitioners of banking and finance.

Islamic Finance in the Light of Modern Economic Theory
Islamic Finance in the Light of Modern Economic Theory

Author: Suren Basov

Publisher: Springer

Published: 2016-12-01

Total Pages: 172

ISBN-13: 1137286628

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This book provides researchers and students with an understanding of the basic legal tenets of the Islamic finance industry, studying the real economic effects of those tenets using the tools of the modern economic theory. Split into four parts, the book begins with an introduction to the history and a legal framework for Islamic banking, covering typical Islamic financial products such as Sukuk and Takaful and examining the structure of Islamic financial institutions. It then analyzes and discusses the Miller-Modigliani Theorem, which is of direct relevance to Islamic banks which are prohibited to charge interest and often have to rely of profit-loss sharing agreements. Part III of the book introduces the reader to modern mechanism design theory, paying particular attention to optimal contracting under hidden action and hidden information, and final part of the book applies the tools of economic theory to understand performance of Islamic financial institutions such as Islamic banks and Takaful operators. Islamic Finance in Light of Modern Economic Theory brings together all the necessary technical tools for analyzing the economic effects of Islamic frameworks and can be used as an advanced textbook for graduate students who wish to specialize in the area, as a reference for researchers and as a tool to help economists improve the design of Islamic financial institutions.

Financial Inclusion and Poverty Alleviation
Financial Inclusion and Poverty Alleviation

Author: Muhamed Zulkhibri

Publisher: Springer

Published: 2017-11-30

Total Pages: 336

ISBN-13: 3319697994

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This book explores the relationships between financial inclusion, poverty and inclusive development from Islamic perspectives. Financial inclusion has become an important global agenda and priority for policymakers and regulators in many Muslim countries for sustainable long-term economic growth. It has also become an integral part of many development institutions and multilateral development banks in efforts to promote inclusive growth. Many studies in economic development and poverty reduction suggest that financial inclusion matters. Financial inclusion, within the broader context of inclusive development, is viewed as an important means to tackle poverty and inequality and to address the sustainable development goals (SDGs). This book contributes to the literature on these topics and will be of interest to researchers and academics interested in Islamic finance and financial inclusion.