"بررسی "به سوی بانکداری بدون بهره

Review of Time Multiple Counter Loan Mechanism in the Interest-free Banking

Seyed Hossein Mirjalili

MPRA Paper from University Library of Munich, Germany

Abstract: Interest-Free Banking hypothesis critiques conventional justifications for interest-based finance, highlighting logical inconsistencies and the conflation of interest with profit. Instead Mahmud Ahmad introduces the Time Multiple Counter Loan (TMCL) mechanism as a potential alternative, aiming to replace interest with a time-based profit-sharing model. However, the proposed method has been critiqued for its uneven merit; while it provides a historical and theoretical analysis of interest and its justifications, its exposition of interest-free banking is considered lacking in practical application and depth and contradict with the jurisprudent of usury.

Keywords: Time Multiple Counter Loan; profit-sharing; usury; finance; financial ethics. (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2013-03-29, Revised 2013-04-21
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Published in journal of Economic Research and Policies 1.11(2013): pp. 139-148

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