Islamic Monetary Economics: Finance and Banking in Contemporary Muslim Economies

Fiat currencies are a major cause of economic challenges, and an Islamic monetary system provides a solution with money concepts, interest-free financial institutions, and monetary policy embedded in real growth. The book outlines the problems with interest-based banking and debt structures and demonstrates the efficacy of Islamic monetary system in delivering real growth and equitable distribution of wealth. It is essential reading for students and researchers in Islamic economics, banking, and finance.

\n Format: Hardback
\n Length: 18 pages
\n Publication date: 11 December 2020
\n Publisher: Taylor & Francis Ltd
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The use of fiat currencies has been extensively recognized as a significant factor contributing to the challenges faced by contemporary economies. The current monetary system, characterized by exorbitant interest rates and the depreciation of money values in numerous countries, serves as a primary catalyst for these issues. In their book, the editors argue that an Islamic monetary system, with its distinct concepts of money, interest-free financial institutions, and monetary policy aligned with real growth, offers a viable solution to this predicament.

Contributions from esteemed experts across various domains delve into a diverse range of topics, encompassing the theoretical foundations of money and banking in both conventional and Islamic economics, as well as the historical evolution of money from precious metals to plastic money and digital currency in the modern era. The book meticulously outlines the problems inherent in interest-based banking and the proliferation of debt structures. It then presents Islamic concepts of money and highlights the unique characteristics of its monetary policy. Supported by extensive research and empirical evidence, the book showcases the effectiveness of the Islamic monetary system in fostering sustainable real growth, promoting equitable wealth distribution, and fostering prosperity within the economy. Furthermore, it provides an insightful exploration of juristic debates surrounding money and monetary policy.

This book is of paramount importance for both students and researchers in Islamic economics, banking, and finance. It serves as a powerful advocacy for establishing a fair and just economic system that emerges through the principles of interest-free banking and monetary policy grounded in Islamic principles. By delving into these critical aspects, the book contributes to a deeper understanding of the financial landscape and offers valuable insights for shaping a more sustainable and equitable future.

\n Weight: 552g\n
Dimension: 162 x 241 x 19 (mm)\n
ISBN-13: 9780367457730\n \n