04548nam 2200697 a 450 991081578770332120240516091828.01-119-20768-11-283-40145-297866134014581-118-17867-X(CKB)2670000000133255(EBL)827094(OCoLC)769343038(SSID)ssj0000621718(PQKBManifestationID)12249123(PQKBTitleCode)TC0000621718(PQKBWorkID)10617731(PQKB)10270871(MiAaPQ)EBC827094(Au-PeEL)EBL827094(CaPaEBR)ebr10522328(CaONFJC)MIL340145(EXLCZ)99267000000013325520100113d2009 uy 0engurcn|||||||||txtccrIslamic money and banking integrating money in capital theory /Iraj Toutounchian1st ed.Singapore Wiley & Sons (Asia) ;Hoboken, N.J. Wiley20091 online resource (412 p.)Wiley financeDescription based upon print version of record.0-470-82319-4 Includes bibliographical references and index.Islamic Money and Banking; Contents; Acknowledgments; Preface; 1 An Evaluation of Money: A New Perspective; Commodity Money; Metallic Money; Dinar and Dirham (D-D); What is (Paper) Money?; An Impure Public Good; Quantity Theory of Money and a Country's Balance Sheet; Functions of Money in an Islamic Setting; The General Theory as Monetary Theory; Cooperation in Islam; A Just Voting System; Islamic Foundation of Norms for Cooperation; Equivalence between Functions of and Demand for Money; Notes; 2 Interest on Money and Its Scope; A Brief History of InterestThe Place of Interest in Capitalist Economics The Place of Labor; Western Justifications for Interest; Time Preference and its Relation to the Rate of Interest; Is Time Preference Positive in all Circumstances?; Some Further Thoughts on Interest; Exchange Cost, Seigniorage and Inflation; The Socially Optimal Provision of Money in the Capitalist System; Interest (Riba) in Islam; Notes; 3 A Legal Perspective on Islamic Finance; Capital Theory: A Brief Recapitulation; The Legalities of Money and Capital; Money and Capital Reconsidered; Supply of Money Unidentified; Extended ModelImplications of the Model Notes; 4 Interest: Fact and Fiction; The Place of Man in the Economic System; The Evils of Interest; Notes; 5 Islamic Banking versus Conventional Banking; The Structure and Functions of Banking; Underlying Conditions for Success in Islamic Finance; The Philosophical Foundations of the Place and the Ultimate Goal of Man; Islamic Modes of Finance; Islamic Bank Structure; Islamic Contracts; New Products; Notes; 6 The Role of Conventional and Islamic Banks in Investment: Certainty and Risk Conditions; Introduction; Investment in a Capitalist EconomyInvestment Expenditure: A Function of Interest Rate? Investment in an Islamic Economy; Portfolio Management for Households; Notes; 7 The Role of Central Banks in Islamic Banking; Revising Roles: Learning from Experience; Revisions (Beyond Amendments); The Role of the Central Bank in Islamic Banking; Assertions; Classification of Islamic Modes of Contract; Application of IRR and Zero Cost of Capital; The Transmission Mechanism for Creating Money; Notes; Bibliography; IndexThis book examines how money, in the absence of interest (Riba) and money market can become an endogenous variable of an economic system. It further tries to integrate money in capital theory and to make monetary sector part of the real sector aiming at removing the problems that arise from separation of the two.Wiley finance series.MoneyReligious aspectsIslamMoneyIslamic countriesBanks and bankingReligious aspectsIslamBanks and bankingIslamic countriesMoneyReligious aspectsIslam.MoneyBanks and bankingReligious aspectsIslam.Banks and banking332.091767Toutounchian Iraj1941-1675106MiAaPQMiAaPQMiAaPQBOOK9910815787703321Islamic money and banking4040351UNINA