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The Prohibition of Interest in Western Literature

In: Islamic Finance: Theory and Practice

Author

Listed:
  • Paul S. Mills

    (HM Treasury)

  • John R. Presley

    (University of Loughborough
    The Saudi British Bank)

Abstract

Moneylenders have never been popular — condemned for their laxity in good times and for their parsimony and greed in bad. Bankers, and orthodox economists, dismiss such feelings as the result of irrational cultural prejudice. Given a competitive supply of credit, any belief that lenders are exploiting their borrowers is thought irrational.

Suggested Citation

  • Paul S. Mills & John R. Presley, 1999. "The Prohibition of Interest in Western Literature," Palgrave Macmillan Books, in: Islamic Finance: Theory and Practice, chapter 8, pages 101-113, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28847-8_8
    DOI: 10.1057/9780230288478_8
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    Cited by:

    1. Hidayah, Nunung Nurul & Lowe, Alan & Woods, Margaret, 2019. "Accounting and pseudo spirituality in Islamic financial institutions," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 61(C), pages 22-37.

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