1st Edition

Islamic Monetary Economics
Finance and Banking in Contemporary Muslim Economies



  • Available for pre-order. Item will ship after December 10, 2020
ISBN 9780367457730
December 10, 2020 Forthcoming by Routledge
264 Pages 39 B/W Illustrations

USD $155.00

Prices & shipping based on shipping country


Preview

Book Description

The existence of fiat currencies has long been cited as one of the major contributing factors to the challenges facing contemporary economies, and the current monetary system is not only a key source of exorable increases in interest rates but also a principal cause of inflation and decline in the value of money, in many countries. The editors argue that an Islamic monetary system, with its specific money concepts, interest free financial institutions and a monetary policy embedded in real growth, provides a solution to this conundrum.

Contributions from many world-renowned experts consider a wide array of topics, ranging from the theoretical concepts of money and banking in conventional and Islamic economics to the historical journey of money from precious metals to plastic money and digital currency today. The book outlines the problems that sprout from interest based banking and multiple debt structures. It then mirrors the Islamic concepts of money as well as idiosyncrasies of its monetary policy. Supported with meticulous research and empirical evidence, the book demonstrates the efficacy of Islamic monetary system in delivering real growth along with equitable distribution of wealth and prosperity the economy. It additionally acquaints the readers with juristic debates about money and monetary policy.

This is essential reading for both students and researchers in Islamic economics, banking and finance, expertly promoting a fair and just economic system that emerges as a result of interest free banking and monetary policy based on Islamic principles.

Table of Contents

List of figures

List of tables

Preface

List of contributors

  1. The Islamic Macroeconomic Model: How to Apply It?
  2. Mabid Ali Al-Jarhi

  3. Monetary Economics and Monetary Policy in Islamic Perspective: Focus on Contemporary Muslim Economies Aiming at Making their Economies Islamic.
  4. M. Fahim Khan and Zohra Jabeen

  5. Economic Analysis of Islamic Monetary Framework and Instruments.
  6. Salman Ahmed Shaikh and M. Kabir Hassan

  7. Re-Examining Monetary and Financial Stability in a Modern Economy: Evidence from Turkey and Malaysia.
  8. Adam Abdullah

  9. The Impact of External Shocks on the Dynamics of Macroeconomic Variables in Iran (Islamic Versus Conventional Monetary Rule)
  10. Zahra Afshari, Maryam Soleimani Movahed

  11. The Problems with Fractional Reserve Banking and Proposing a Shariah Compliant Full Reserve Banking Model.
  12. Ömer Faruk Tekdoğan, Mehmet Saraç

  13. Monetary Policy and Islamic Banking: Key Challenges.
  14. Sajjad Zaheer

  15. Impacts of Monetary Policy on Credit Supply of Islamic Banks: An Empirical Study of Pakistan versus Malaysia.
  16. Syed Muhammad Abdul Rehman Shah and Abdul Rashid

  17. Cryptocurrencies from the Perspective of Islamic Economics: Discussions and Opportunities.
  18. Mücahit Özdemir, Zeyneb Hafsa Orhan and Hüseyin Burgazoğlu

  19. Contemporary Debates in Islamic Monetary Economics: A Retrospective Look.

Ahsan Shafiq

Index

...
View More

Editor(s)

Biography

Taha Eğri, Ph.D., is currently a Research Fellow at Kırklareli University, Turkey. He completed his BA at Bogazici University, Turkey, and obtained his MA and PhD degrees at Istanbul University, Turkey. He was a visiting scholar at George Mason University, USA, between 2014 and 2016. His primary research areas are institutional economics and international political economy. He is currently focusing on MENA countries' economic policies, military-economic relations and Islamic economics. He is Director of Research Center for Islamic Economics (IKAM), Istanbul and the editor of two peer-reviewed journals.

Zeyneb Hafsa Orhan, Ph.D., received her undergraduate degree on economics from Bahcesehir University, Turkey and her master’s degree on International and European Relations from Linköpings University, Sweden. Finally, she obtained her PhD degree on economics (with a thesis specializing in Islamic banks) from the International University of Sarajevo, Bosnia. After over 8 years of international experience, she has been working at Istanbul Sabahattin Zaim University since the beginning of 2015. Currently she is Assist. Prof. in the Islamic Economics and Finance Department. Her current research areas include Islamic economics and finance, finance and banking.