Towards a just monetary system : a discussion of money, banking, and monetary policy in the light of Islamic teachings
Author(s)
Bibliographic Information
Towards a just monetary system : a discussion of money, banking, and monetary policy in the light of Islamic teachings
（Islamic economics series, 8）
Islamic Foundation, c1985
- pbk.
Available at / 4 libraries
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Research Institute for Economics & Business Administration (RIEB) Library , Kobe University図書
332.095-61081000072624
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Note
Bibliography: p. 267-282
Reprint of the 1985 ed.
Includes index
Description and Table of Contents
- Volume
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ISBN 9780860371465
Description
The Prophet Muhammad (PBUH) established complete equality between men and women as he said, "Women are full sisters of men". Yet both have their respective special functions. This volume draws out the features of the Muslim woman's character as outlined in the Qur'an and Sunnah. It shows that much of what we imagine to be Islamic rulings are no more than social traditions.
- Volume
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pbk. ISBN 9780860371472
Description
"Towards a Just Monetary System" is the first comprehensive study of the goals, nature and operations of the monetary system of Islam, which has justice as one of its most indispensable objectives. For most people, including some Muslims, an interest-free economy is a mystery. Hence a number of questions are asked. Has Islam really prohibited interest and, if so, what is the purpose behind this? Can an economy run without interest? What will be the impact on resource allocation, savings and capital formation, economic stability and growth? Dr. Chapra takes the mystery out of the subject by answering these and a number of other questions by means of a thorough economic analysis. While he shows the rationale behind the prohibition of interest and the strengths of a purely equity-based Islamic economy, he also indicated the problems and gives a realistic proposal for solving them. Dr. Chapra also elaborates the changes that must be introduced in the nature and operations of commercial and central banks: the auxiliary institutions which must be established, and the new tools of monetary policy that must be developed to enable the Islamic money and banking system to function effectively. He however warns that the abolition of interest is not the only value of Islam and unless it is political institutions of Muslim countries, their economies cannot be transformed and socio-economic justice as well as a whole range of other important goals of Islam cannot be realized. This calls for a gradual transformation, but with a total commitment. The Islamic Foundation is an educational and research organization developed to make Islam a living reality in our age. For this purpose, it aims at improving human communication and developing a better understanding of Islam among all people of the world, Muslim and non-Muslim, so as to galvanize man to the message and ideal of One God and the unity of mankind. As brought by all Prophets of God throughout the ages, last of whom was the Prophet Muhammad (blessings of Allah and peace be upon him).
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