A gold standard international payments system anchored in Islamic finance
Joint Authors
Askari, Husayn
Krichene, Nur al-Din
Source
ISRA International Journal of Islamic Finance
Issue
Vol. 6, Issue 1 (30 Jun. 2014), pp.7-50, 44 p.
Publisher
International Shari'ah Research Academy for Islamic Finance
Publication Date
2014-06-30
Country of Publication
Malaysia
No. of Pages
44
Main Subjects
Economy and Commerce
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Islamic jurisprudence
- Financial crises
- International economics
- Islamic economics
- Islam
- Ruling in Islam
- Inflation(Finance)
- Financing
- Finance
- Financial statements
- Investments
- Balance of trade
- Risk management
- Bank loans
- Banking services
- Paper money
- Profit-sharing
- Payments
- Islamic Banks
- Gold standard
Abstract EN
Historically, gold was the natural money chosen by markets for domestic and international payments.
Conventional banking and financial crises led to the abandonment of gold.
The post-BrettonWoods inconvertible paper system was quickly marked by inflation and economic disorders.
The 2007-2008 financial crisis, its bailout cost, and ensuing economic stagnation have demonstrated the unsustainability of the current financial system.
This paper explores a restoration of a gold standard based on premises of Islamic finance and a subdivision of banking into two subsystems: (i) 100-percent depository banking; and (ii) equity-based, risk-sharing investment banking.
These same conditions have been deemed by many writers as necessary for the stability of the gold system.
American Psychological Association (APA)
Askari, Husayn& Krichene, Nur al-Din. 2014. A gold standard international payments system anchored in Islamic finance. ISRA International Journal of Islamic Finance،Vol. 6, no. 1, pp.7-50.
https://search.emarefa.net/detail/BIM-717682
Modern Language Association (MLA)
Askari, Husayn& Krichene, Nur al-Din. A gold standard international payments system anchored in Islamic finance. ISRA International Journal of Islamic Finance Vol. 6, no. 1 (Jun. 2014), pp.7-50.
https://search.emarefa.net/detail/BIM-717682
American Medical Association (AMA)
Askari, Husayn& Krichene, Nur al-Din. A gold standard international payments system anchored in Islamic finance. ISRA International Journal of Islamic Finance. 2014. Vol. 6, no. 1, pp.7-50.
https://search.emarefa.net/detail/BIM-717682
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 49-50
Record ID
BIM-717682
