Building Genuine Islamic Financial Institutions

Asad Zaman

No 2014:111, PIDE-Working Papers from Pakistan Institute of Development Economics

Abstract: Since the spirit of Islam is in stark and violent conflict with the spirit of Capitalism, the form taken by institutions designed to express this spirit must also be different. Capitalist financial institutions are designed to support the process of accumulation of wealth, which is at the heart of capitalist societies. Central to Islam is the spirit of service, and spending on others, which is expressed by diverse, service-oriented institutions, radically different from those dominant in capitalist societies.

Keywords: Contingent Valuation Method; Binomial Logit Regression; Willingness to Pay; Solid Waste Management; Environment; Pakistan (search for similar items in EconPapers)
JEL-codes: G2 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2014
New Economics Papers: this item is included in nep-mfd
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