Islamic Economics and Banking — the Background

Paul S. Mills and John R. Presley
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Paul S. Mills: HM Treasury
John R. Presley: University of Loughborough

Chapter 1 in Islamic Finance: Theory and Practice, 1999, pp 1-6 from Palgrave Macmillan

Abstract: Abstract Islam is founded upon the notion of Tawhid — a total commitment to the will of God, involving submission to the pattern of life disclosed in the expression of His revealed will. The logical conclusion from this premise, that Islam shares with other monotheistic faiths, is that all aspects of life have a spiritual dimension. There is no part of life that can be placed in a secular compartment, devoid of religious and ethical considerations. Islam is a lifestyle and worldview — not just a spiritual opinion about God’s character (Abbasi et al., 1989, p. 7).

Keywords: Economic Freedom; Cash Holding; Islamic Banking; Muslim Society; Assurance Contract (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28847-8_1

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DOI: 10.1057/9780230288478_1

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