IDEAS home Printed from https://ideas.repec.org/a/abd/kauiea/v29y2016i3no7p205-216.html
   My bibliography  Save this article

Towards a Unified Analytical Model for Different Types of Riba: Observations and Reflections, comment: Mohammad I. Alsuhaibani نحو نموذج موحد لأنواع الربا: ملحوظات وتأملات - تعليق

Author

Listed:
  • Mohammad I. Alsuhaibani

    (Professor of Economics, Faculty of Economics and Management Sciences, Imam Muhammad Bin Saud University Riyadh, Saudi Arabia)

Abstract

In these notes we offer some observations and reflections on the novel interpretation for the rationale behind prohibiting Riba al-fadl presented by Al-Suwailem (2016). We raise questions about the applicability of Al-Suwailem’s interpretation to the exchange of money (gold and silver) and all similar exchanges where the two counter-values are identical. Building on these observations, we discuss their implications on the main findings of Al-Suwailem’s analysis and the possibility of developing an objective criterion to distinguish between sale and loan. Some minor remarks are given at the end of our notes. يقدم بحث السويلم (2016م) نظرة جديدة لحكمة ربا الفضل التي أشكلت على الكثيرين. وهي نظرة متعمقة مبنية على التحليل الاقتصادي لآلية عمل السوق الحرة. ويقدم هذا التعليق ملاحظات رئيسة حول إمكانية تعميم نتائج البحث على مبادلات النقدين (الذهب والفضة) ونحوها من المبادلات التي ينعدم فيها أي تفاوت في جنس وكمية وجودة العوضين، وانعكاسات ذلك على النتائج الرئيسة لتحليل السويلم، وإمكانية تطوير معيارٍ موضوعيٍ للتفريق بين البيع والقرض. ويشير التعليق في نهايته لبعض الملاحظات الثانوية.

Suggested Citation

  • Mohammad I. Alsuhaibani, 2016. "Towards a Unified Analytical Model for Different Types of Riba: Observations and Reflections, comment: Mohammad I. Alsuhaibani نحو نموذج موحد لأنواع الربا: ملحوظات وتأملات - تعليق," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 29(3), pages 205-216, October.
    • Handle: RePEc:abd:kauiea:v:29:y:2016:i:3:no:7:p:205-216
    DOI: 10.4197/Islec.29-3.7
    as

    Download full text from publisher

    File URL: https://iei.kau.edu.sa/Files/121/Files/157788_29-03-06-Sami.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.4197/Islec.29-3.7?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. K. J. Arrow, 1964. "The Role of Securities in the Optimal Allocation of Risk-bearing," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 31(2), pages 91-96.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Peter Brusov & Tatiana Filatova & Natali Orekhova, 2023. "Capital Structure Theory: Past, Present, Future," Springer Books, in: The Brusov–Filatova–Orekhova Theory of Capital Structure, chapter 0, pages 9-50, Springer.
    2. Athanasoulis, S. & Shiller, R.J., 1995. "World Income Components: Measuring and Exploting International Risk Sharing Opportunities," Papers 725, Yale - Economic Growth Center.
    3. Mas-Colell, Andreu & Zame, William R., 1996. "The existence of security market equilibrium with a non-atomic state space," Journal of Mathematical Economics, Elsevier, vol. 26(1), pages 63-84.
    4. Kevin Huang & Jan Werner, 2004. "Implementing Arrow-Debreu equilibria by trading infinitely-lived securities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(3), pages 603-622, October.
    5. Scott Duke Kominers & Alexander Teytelboym & Vincent P Crawford, 2017. "An invitation to market design," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(4), pages 541-571.
    6. Jonathan Eaton & Samuel Kortum & Brent Neiman & John Romalis, 2016. "Trade and the Global Recession," American Economic Review, American Economic Association, vol. 106(11), pages 3401-3438, November.
    7. Thomann, Christian & Schulenburg, J.-Matthias, 2006. "Supply and Demand for Terrorism Insurance: Lessons from Germany," Hannover Economic Papers (HEP) dp-340, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    8. Hammond, Peter J., 1999. "Non-Archimedean subjective probabilities in decision theory and games," Mathematical Social Sciences, Elsevier, vol. 38(2), pages 139-156, September.
    9. Han, Li-Ming & Lai, Gene C. & Witt, Robert C., 1997. "A financial-economic evaluation of insurance guaranty fund system: An agency cost perspective," Journal of Banking & Finance, Elsevier, vol. 21(8), pages 1107-1129, August.
    10. P.J. Hammond, 2007. "History: Sunk Cost, or Widespread Externality?," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 115(2), pages 161-185.
    11. , & , A., 2007. "Delay aversion," Theoretical Economics, Econometric Society, vol. 2(1), pages 71-113, March.
    12. repec:zbw:bofrdp:1997_008 is not listed on IDEAS
    13. Kunreuther, Howard & Wright, Gavin, 1974. "Safety-First, Gambling, and the Subsistence Farmer," Miscellaneous Series 257756, Pennsylvania State University.
    14. Berger, Loïc & Emmerling, Johannes, 2017. "Welfare as Simple(x) Equity Equivalents," MITP: Mitigation, Innovation and Transformation Pathways 254044, Fondazione Eni Enrico Mattei (FEEM).
    15. Haven, Emmanuel, 2003. "A Black-Scholes Schrödinger option price: ‘bit’ versus ‘qubit’," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 324(1), pages 201-206.
    16. Dionne, Georges & Harrington, Scott, 2017. "Insurance and Insurance Markets," Working Papers 17-2, HEC Montreal, Canada Research Chair in Risk Management.
    17. Thomas Eichner & Rüdiger Pethig, 2015. "Efficient Management of Insecure Fossil Fuel Imports through Taxing Domestic Green Energy?," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 17(5), pages 724-751, October.
    18. Nanda, Kajole, 2019. "Dynamics between Bank-led Financial Inclusion and Economic Growth in Emerging Economies: The Case of India," International Journal of Development and Conflict, Gokhale Institute of Politics and Economics, vol. 9(1), pages 95-121.
    19. Timothy Johnson, 2015. "Reciprocity as a Foundation of Financial Economics," Journal of Business Ethics, Springer, vol. 131(1), pages 43-67, September.
    20. Hans Gersbach, 2013. "Preventing Banking Crises--with Private Insurance?," CESifo Economic Studies, CESifo, vol. 59(4), pages 609-627, December.
    21. Hanif, Muhammad N., 2002. "Restructuring of Financial Sector in Pakistan," MPRA Paper 10197, University Library of Munich, Germany.

    More about this item

    Keywords

    Riba; Prohibition of riba rationale; riba al- fadl; riba al- nasi’ah. الربا، ربا الفضل، ربا النسيئة، حكمة تحريم الربا.;
    All these keywords.

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:abd:kauiea:v:29:y:2016:i:3:no:7:p:205-216. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: King Abdulaziz University, Islamic Economics Institute. (email available below). General contact details of provider: https://edirc.repec.org/data/cikausa.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.