Creditor-Debtor Relations: Some Issues, Some Proposals علاقات الدائن والمدين: بعض القضايا والمقترحات

Munawar Iqbal ()
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Munawar Iqbal: Professor, Islamic Economic Institute King Abdulaziz University, Jeddah

Chapter 8 in Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07, 2012, pp 627-662 from King Abdulaziz University, Islamic Economics Institute.

Abstract: Taking debt has always been a controversial issue. The decision has historically been viewed differently in different cultures. Perceptions about the extent of its benefits and harms have also varied in various economic situations. In the last fifty years debt-taking has been on the rise due to an increasingly tolerant view by economists, commending its advantages and dismissing its well-known macroeconomic disadvantages. This school of thought considers that leveraging is a useful way of increasing wealth. Debt can open up many opportunities for individuals, corporations and governments to meet the needs or capture opportunities that their present incomes cannot afford and can also increase national income by putting idle resources into use. The 2008 debt crisis has raised a number of questions about this tolerant view and even those who took liberal stands with respect to debt are now reconsidering their opinions. --

Date: 2012
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