International Standard Book Number (ISBN)

0860371476; paperback

Cataloging Source

DLC; eng; DLC; UiTM; rda

Language Code

eng

Local Call Number

BP173.75; .C43 1985

Main Entry - Personal Name

Chapra, Muhammad Umer; 1933-; author

Title Statement

Towards a Just Monetary System; A discussion of money, banking and monetary policy in the light of Islamic teachings; M. UMER CHAPRA

Production, Publication, Distribution, Manufacture, and Copyright Notice

Leicester, United Kingdom; The Islamic Foundation; 1985; ©1985

Physical Description

292 pages; 21 cm

Content Type

text; rdacontent

Media Type

rdamedia; unmediated

Carrier Type

volume; rdacarrier

Series Statement

Islamic Economics Series; 8

General Note

REKOD DUPLIKASI TAK BOLEH DELETE

Bibliography, Etc. Note

Includes bibliography (pages 267- 282) and index

Summary, Etc.

"Towards a Just Monetary System" is the first comprehensive study of the goals, nature and operations of the monetary system of Islam, which has justice as one of its most indispensable objectives. For most people, including some Muslims, an interest-free economy is a mystery. Hence a number of questions are asked. Has Islam really prohibited interest and, if so, what is the purpose behind this? Can an economy run without interest? What will be the impact on resource allocation, savings and capital formation, economic stability and growth? Dr. Chapra takes the mystery out of the subject by answering these and a number of other questions by means of a thorough economic analysis. While he shows the rationale behind the prohibition of interest and the strengths of a purely equity-based Islamic economy, he also indicated the problems and gives a realistic proposal for solving them. Dr. Chapra also elaborates the changes that must be introduced in the nature and operations of commercial and central banks: the auxiliary institutions which must be established, and the new tools of monetary policy that must be developed to enable the Islamic money and banking system to function effectively. He however warns that the abolition of interest is not the only value of Islam and unless it is political institutions of Muslim countries, their economies cannot be transformed and socio-economic justice as well as a whole range of other important goals of Islam cannot be realized. This calls for a gradual transformation, but with a total commitment. The Islamic Foundation is an educational and research organization developed to make Islam a living reality in our age. For this purpose, it aims at improving human communication and developing a better understanding of Islam among all people of the world, Muslim and non-Muslim, so as to galvanize man to the message and ideal of One God and the unity of mankind. As brought by all Prophets of God throughout the ages, last of whom was the Prophet Muhammad (blessings of Allah and peace be upon him). An important aspect of the foundation s multifarious activities is the publication of literature of Islam.

Subject Added Entry - Topical Term

Economics; Islam; Religious aspects

Record ID

257599