Interest and the Modern Economy
The argument that modern economies cannot function without interest is examined in detail. We show that Islamic alternatives to interest, which vary with the context and the type of loan, provide adequate substitutes. Interest based institutions lead to many types of difficulties both practical and theoretical. Islamic alternatives provide solutions to these difficulties.
|Date of creation:||2000|
|Publication status:||Published in Lahore Journal of Economics 6.1(2001): pp. 113-127|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Mohsin S. Khan, 1986. "Islamic Interest-Free Banking: A Theoretical Analysis (Le systÃ¨me bancaire islamique: analyse thÃ©orique d'un systÃ¨me qui ne fait pas appel Ã l'intÃ©rÃªt) (La prohibiciÃ³n islÃ¡mica de los intereses," IMF Staff Papers, Palgrave Macmillan, vol. 33(1), pages 1-27, March. Full references (including those not matched with items on IDEAS)
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