Islamic Banking and Finance: Fundamentals and Contemporary Issues

The Case Against Interest: Is It Compelling? There was a reverse flow of funds as soon as there was a negative shock. Shocks can ...

M. Umer Chapra choose, they create future claims on their country’s reserves” (World Bank, 1998, p.3). Discussion of the role of ...

The Case Against Interest: Is It Compelling? their chief executives often go to the same clubs, dine together, and know each oth ...

M. Umer Chapra wealthy individuals” for risky speculation when it is well-known that the higher the leverage, the greater the ri ...

The Case Against Interest: Is It Compelling? Such a large expansion implies that if problems were to arise, they could quickly s ...

M. Umer Chapra situation, there will be a flight of funds to offshore havens where almost half of all hedge funds are already lo ...

The Case Against Interest: Is It Compelling? control of plant, equipment, and infrastructure and therefore funds the growth-crea ...

M. Umer Chapra system. Since stability of the financial system is indispensable for promoting trade and development and since th ...

The Case Against Interest: Is It Compelling? reward sharing system. Borrowing, however, does not eliminate the ultimate sacrific ...

M. Umer Chapra joined hands with structural rigidities and some other socio-economic factors to reduce the rates of growth in ou ...

The Case Against Interest: Is It Compelling? to turn investment depositors into temporary shareholders. Placing investment depos ...

M. Umer Chapra Secondly, it is the price of the good or service sold, and not the rate of interest, which is stipulated in the c ...

The Case Against Interest: Is It Compelling? there arises the question of whether they should bear only the market risks or also ...

M. Umer Chapra into the system greater market discipline of the type that all the major religions emphasize. 8. Conclusion Thus ...

The Case Against Interest: Is It Compelling? that in 1998 (BIS, 2001, p.1). The major reason for this fall in the foreign exchan ...

M. Umer Chapra References Bank for International Settlements (BIS), (1982, June), Annual Report. Bank for International Settleme ...

The Case Against Interest: Is It Compelling? Chapra, M. Umer (2000), “Why has Islam Prohibited Interest? Rationale behind the Pr ...

M. Umer Chapra Hicks, Sir John (1982), “Limited Liability: the Pros and Cons”, in Tony Orhnial, Limited Liability and the Corpor ...

The Case Against Interest: Is It Compelling? Economic and Finance, Federal Reserve Bank of New York, September, Vol. 6, No. 10. ...

Mohammed Burhan Arbouna^ 1. Introduction The Shari[ah (Islamic law) is a legal system that considers interest or expectations of ...