Money In Islam

This volume takes a unique and challenging look at how money has operated in Islamic society and at how Islamic theoretical frameworks have influenced perceptions of money. The author draws upon historical, data and policy analysis to present a comparative study of monetary theories, including recent treatment of money by Islamic economists. Discussion also covers the nature of joint venture, stock markets, banks and financial intermediaries, price stability and international trade. This work sheds pioneering light in this area, and will be of interest to academics, graduates and researchers internationally.

"After delving into the problems of the present monetary system, it then argues how a return to a gold payment system - like the Islamic dinar - could solve many of the woes of today's economic system. A return to such a system is not only desirable from the economic, political, social and religious perspectives, but also urgent in the present era of globalisation and impending world recession, besides providing a conducive environment for Islamic economics, banking and finance to flourish." "Ahamed Kameel Mydin Meera is the Head of the Department of Business Administration, Faculty of Economics and Management Sciences, International Islamic University Malaysia, in Kuala Lumpur, Malaysia."--BOOK JACKET.

FOLLOW THE MONEY Some people work all their lives for it. Some people have huge amounts of it, and some have almost none. Some steal it, some kill for it. Some men and women marry for it. Some people gamble everything they can, hoping to win more of it and some actually do win, but most lose. Some lie for it, some die for it. Many nations go to war for it. Most of the films we see and a great many of the stories we read are about people who do many of the above things for it. But what is money? The modern world is a complex place. Ideologies and religions swirl, entangle with and wage war upon each other. Politically, socially and militarily the world is in upheaval. Economics, commerce and finance move in their own fashion and move many other forces from behind. The whole makes a strangely compelling but disturbing fabric of interwoven threads. And when was it ever different? This book was written in the conviction that if we use the old journalist's rule "Follow the Money" we can make some sense of that. ABDASSAMAD CLARKE Abdassamad Clarke is from Ulster and was formally educated in Edinburgh. He accepted Islam at the hands of Shaykh Dr. Abdalqadir as-Sufi in 1973 and later studied in Cairo. He has translated a number of classical Arabic works and is currently an imam and teacher at the Ihsan Mosque, Norwich, UK and Dean of the Muslim Faculty of Advanced Studies. The book has 118 pages.

The monetary instability experienced in recent years imposes enormous costs worldwide and has led to calls for a reset of the international monetary system. To avoid the problem arising again, the value of money must once again be defined in terms of some real commodity or commodities, as it has been for most of history. However, making currencies convertible into gold once again would be no panacea. A better alternative, first proposed in the 19th century and advocated in the 20th century, is for money to be made convertible into a range of commodities other than gold. Stabilizing Currency and Preserving Economic Sovereignty Using the Grondona System discusses how a sustainable basis for sovereign national money systems can be simply achieved by implementing the “Grondona System,” whereby the value of currency is stabilized by making it conditionally convertible into a range of primary commodities. Covering a range of topics such as economic growth, fiat money, and digital currencies, this book is ideal for policymakers, economists, investors, academicians, researchers, instructors, and students.

The Economic System of Islam, is an English version of a lecture delivered in Urdu by Hazrat Mirza Bashir-ud-Din Mahmud Ahmad, the Second Khalifah Head of the Ahmadiyya Muslim Community to a gathering of academia in Lahore, Pakistan, in 1945. The book presents a detailed account of the teachings of Islam regarding the system of economics. It demonstrates that economic system of Islam is placed within the broader teachings of Islam, with the objective of attaining the pleasure of Allah and everlasting bliss in the Hereafter. It provides for a healthy and progressive society in which the basic needs of all are met, and incentives for achieving excellence are provided, with due regard to justice and fair play. The lecture then makes a critical evaluation of the economic aspects of Communism. It provides ample evidence that Communism has failed in its pretensions of promoting justice and equality both within its own borders and in international affairs. It brings out serious objections against Communism from a religious point of view, and cites three prophecies about the decline of Communism.