Money creation and control from Islamic perspective
Author
Source
Journal of Islamic Business and Management
Issue
Vol. 1, Issue 1 (31 Dec. 2011), pp.49-68, 20 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2011-12-31
Country of Publication
Pakistan
No. of Pages
20
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
Abstract EN
This paper deals with familiar facts in monetary economics from an unfamiliar angle.
It argues that it is not factual to regard the legal tender money and bank credit as of different genus: they work in tandem to the same ends in an economy, conventional or Islamic.
Also, it does not matter what serves as money – solid gold or flimsy paper – for keeping its value stable; only the blind would argue that staff is indispensable for walking.
Money is just an instrument: it was never nor can ever be classified into Islamic and non-Islamic.
What it does – good or bad – depends on how we use it.
Money does not generate crises; its mismanagement does.
It follows that the refuge the world is searching today from recurring financial crises does not lie in money substance: history testifies that national economies could not remain turmoil-free during the centuries of the yellow metal sway over the monetary scene.
The paper concludes that it is the human factor that has been the source of good or evil for mankind including money matters.
And the quality of human factor true religion can alone improve: morality without faith is rudderless.
American Psychological Association (APA)
Hasan, Zubayr. 2011. Money creation and control from Islamic perspective. Journal of Islamic Business and Management،Vol. 1, no. 1, pp.49-68.
https://search.emarefa.net/detail/BIM-604862
Modern Language Association (MLA)
Hasan, Zubayr. Money creation and control from Islamic perspective. Journal of Islamic Business and Management Vol. 1, no. 1 (Dec. 2011), pp.49-68.
https://search.emarefa.net/detail/BIM-604862
American Medical Association (AMA)
Hasan, Zubayr. Money creation and control from Islamic perspective. Journal of Islamic Business and Management. 2011. Vol. 1, no. 1, pp.49-68.
https://search.emarefa.net/detail/BIM-604862
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 67-68
Record ID
BIM-604862