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Towards Abolishing the Rate of Interest in Contemporary Islamic Societies نحو إلغاء معدل الفائدة في المجتمعات الإسلامية المعاصرة

Author

Listed:
  • MUKHTARM. METWALLY

    (The International Centre for Middle East , Business and Economic Research)

Abstract

Demand for money and investment function in contemporary Islamic societies is measured through an econometric model to demonstrate that the rate of interest does not play any significant role in their determination. The same technique shows the rate of interest to be a significant determinant of these variables in non-Islamic countries with similar economies. It follows that prohibition of interest in Islam has influenced behaviour in Muslim countries. and that abolishing interest is not going to pose serious problems for them. يستخدم البحث نموذجاً اقتصادياً قياسياً ليقدر دالة الطلب على النقود ودالة الاستثمار في عدد من المجتمعات الإسلامية المعاصرة. ويستنتج ( إحصائياً) أنه لا يظهر لمعدل الفائدة أي دور مهم في تلكما الدالتين. ويطبق البحث الطريقة السابقة نفسها على بلدان غير إسلامية تشابه في اقتصاداتها البلدان الإسلامية، فيجد أن معدل الفائدة له دور معنوي ( إحصائياً) في دوالها المقابلة. يخلص البحث إلى أن تحريم الفائدة في الإسلام قد أثر على السلوك في البلدان المسلمة، وأن إلغاء الفائدة في تلك البلدان لن يؤدي إلى مشكلات صعبة.

Suggested Citation

  • Mukhtarm. Metwally, 1990. "Towards Abolishing the Rate of Interest in Contemporary Islamic Societies نحو إلغاء معدل الفائدة في المجتمعات الإسلامية المعاصرة," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 2(1), pages 3-23, January.
    • Handle: RePEc:abd:kauiea:v:2:y:1990:i:1:no:1:p:3-23
    DOI: 10.4197/islec.2-1.1
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    File URL: https://iei.kau.edu.sa/Files/121/Files/153901_02-01-MMetwally.pdf
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    References listed on IDEAS

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    1. William J. Baumol, 1952. "The Transactions Demand for Cash: An Inventory Theoretic Approach," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 66(4), pages 545-556.
    2. Boulakia, Jean David C, 1971. "Ibn Khaldun: A Fourteenth-Century Economist," Journal of Political Economy, University of Chicago Press, vol. 79(5), pages 1105-1118, Sept.-Oct.
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    Cited by:

    1. Darrat, Ali F. & Al-Mutawa, Ahmed, 1996. "Modelling money demand in the United Arab Emirates," The Quarterly Review of Economics and Finance, Elsevier, vol. 36(1), pages 65-87.
    2. Ali F. Darrat, 1993. "Mukhtar M. Metwally: Towards Abolishing the Rate of Interest in Contemporary Islamic Societies, Comment مختار متولي: نحو إلغاء معدلات الاهتمام في المجتمعات الإسلامية المعاصرة - تعليق: علي ضراط," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 5(1), pages 39-49, January.

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