 نحو نظام نقدي ومالي إسلامي: الهيكل والتطبيقTowards an Islamic Monetary and Financial System: Structure and ApplicationMPRA Paper from University Library of Munich, Germany Abstract: The paper attempts through presenting a proposed structure for a monetary and financial system of an interest-free economy to pave the way for discussing interest in particular and the Islamic economic system in general. Economists do require such an agreed structure to which they can refer while discussing economic problems in addition to comparative issues. The absence of such structure could complicate discussions and shroud them with difficulties. The paper specifies the required structure with sufficient details that allow the examination of the financial market, its instruments and effectiveness, as compared to the prevailing system. The paper discusses the demand for money in the proposed structure through looking into its alternative uses, before identifying equilibrium in both investment and money markets as a prelude to discuss monetary policies. Keywords: Islamic Economics; Islamic finance; Interest-free economy; rate of interest; money creation; fractional reserves; total reserves; lending-based processes; investment-based processes; Treasury; Zakah; monetary policy; fiscal policy; system conversion. (search for similar items in EconPapers) Published in Arabic Publications Series 5 (1981): pp. 1-85 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:83714 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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