Islamic Finance Theory and Practice
Description
Given the propensity of the world financial system to crisis, this work 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.
Keywords
Business & EconomicsPublic FinanceHistoryMiddle EastSocial ScienceIslamic Studies
1999Book
Author(s)Paul S. Mills, John R. Presley
PublisherMacmillan
ISBN9780333490839
LanguageEnglish
