1st Edition

The Law of Riba in Islamic Banking Conventional and Unconventional Approaches to Interest-Free Financing

Edited By Hasan Gürak, Neelambar Hatti Copyright 2024
236 Pages 34 B/W Illustrations
by Routledge

236 Pages 34 B/W Illustrations
by Routledge

236 Pages 34 B/W Illustrations
by Routledge

The issue of riba, that is, interest/the "excess" or "surplus" on loans is crucial for both Islamic and non-Islamic countries. Western economic systems use interest to distribute financial resources efficiently for investment and/or consumption, while Islamic economies pursue a completely different strategy for financing loans, which adheres to Islamic laws and prohibits the activities of... Read more

List of figures

List of tables

List of contributors

 

Introduction

 

Part 1: Theoretical Articles on Riba, the ‘Excess’

 

Chapter 1

Why Does Islamic Finance Reject Interest?                                     

Monzer KAHF and Safa YILDIRAN

 

Chapter 2

The Prohibition of 'Riba’ in Islam and its Elimination Through 'Islamic Financing Technics'

Mohammed Nurul ALAM

 

Chapter 3

Is There a 'Divine' Definition of Riba & its Scope in the Holy Quran?

Hasan GÜRAK

 

Chapter 4

Islamic 'Interest-free' Bonds - How Islamic are they?

Hasan GÜRAK

 

Part 2: President Erdogan's patented 'NAS'-policy and its consequences

 

Chapter 5

The NAS is there! President Erdogan’s economic instrument to fight Inflation

Hasan GÜRAK

 

Chapter 6

 The Effects of the New Economic Model on Banking Sector Profitability in Turkey

Şenol BABUŞÇU and Adalet HAZAR

 

Chapter 7

Empirical Evaluation of President Erdoğan's Interest Rate Policy

Haşmet GÖKIRMAK and Fuat SEKMEN

 

Chapter 8

An Analysis on the Relationship between Foreign Exchange Rate Protected Deposit Implementation and Exchange Rates

Nihat IŞIK, Efe C. KILINÇ and Suat S. YILMAZ

 

Chapter 9

Women's Wage in the Turkish Labor Market

Handan KUMAŞ and Atalay ÇAĞLAR

 

Index

Biography

Hasan Gürak is a Senior Researcher at the School of Economics and Management, University of Lund, Sweden.

Neelambar Hatti is Professor Emeritus in the Department of Economic History, School of Economics and Management, University of Lund, Sweden.