MONEY, INTEREST AND QIRAD

Mahmud Abu Sa'ud

IIUM Journal of Economics and Management, 2002, vol. 10, issue 1, 67-98

Abstract: Economics is a social science that constitutes an integral part of the ideology, which prevails in a certain society. It is dangerous to adopt an economic system that does not emanate from and correspond with the ideology, in fact such a trial is doomed to be a failure. Thus, there is no “Islamic Economics” per se unless there is an Islamic ideology prevailing and applied in a Muslim community. Islam is based upon the principles of Oneness of God, the liberty and dignity of men, their equality as creatures and servants of God and justice among them and in their reward. These elements, inter alia, are reflected in the economic concept of Islam, money included.

Keywords: Money; Interest; Islamic economics (search for similar items in EconPapers)
JEL-codes: E41 G24 Z12 (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ije:journl:v:10:y:2002:i:1:p:67-98

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