Islamic Finance : Theory and Practice.
Title:
Islamic Finance : Theory and Practice.
Author:
Mills, Paul S., Professor.
ISBN:
9780333982655
Personal Author:
Physical Description:
1 online resource (184 pages)
Contents:
Contents -- Preface -- 1. Islamic Economics and Banking - the Background -- 2. The Islamic Critique of Interest -- 3. The Interest-free Financial System -- 4. Modelling Profit-and-Loss Sharing -- 5. Non-interest Banking in Practice -- 6. Non-interest Finance and Macroeconomic Stability -- 7. Key Issues in the Islamic Financial System -- 8. The Prohibition of Interest in Western Literature -- 9. Conclusions -- Notes -- References -- Index.
Abstract:
Given the propensity of the world financial system to crisis, this book explores the radical alternative put forward by Islamic (and Western) theories of non-interest banking. The Islamic critique of interest and early experiments with non-interest banking are assessed against the conventional theories regarding banking, company finance and macroeconomic stability. Whilst the experience of Islamic banking has proved inconclusive thus far, the theoretical model provides a cogent alternative to a financial system made fragile by debt contracts.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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