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

The issue of riba i.e., interest/the 'excess' or 'surplus' on loans is crucial for both Islamic and non-Islamic countries. This book argues that there is scope for new definitions and analysis based on alternative concepts, which respect Islamic values and principles, yet pave the way for modification and debate.

List of contents

Introduction Part I: Theoretical Chapters on Riba, the 'Excess' 1. Why Does Islamic Finance Reject Interest? 2. The Prohibition of 'Riba' in Islam and Its Elimination through Islamic Financing 3. Is There a 'Divine' Definition of Riba and Its Scope in the Holy Quran? 4. Islamic 'Interest-Free' Bonds: How Islamic Are They? Part II: President Erdogan's patented 'NAS'-policy and its consequences 5. The NAS Is There! President Erdogan's Economic Instrument to Fight Inflation 6. The Effects of the New Economic Model on Banking Sector Profitability in Turkey 7. Empirical Evaluation of President Erdogan's Interest Rate Policy 8. An Analysis of the Relationship between Foreign Exchange Rate Protected Deposit Implementation and Exchange Rates 9. Women's Wage in the Turkish Labor Market

About the author

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.

Summary

The issue of riba i.e., interest/the ‘excess’ or ‘surplus’ on loans is crucial for both Islamic and non-Islamic countries. This book argues that there is scope for new definitions and analysis based on alternative concepts, which respect Islamic values and principles, yet pave the way for modification and debate.

Product details

• Authors: Hasan Hatti Gurak
• Assisted by: Hasan Gürak (Editor), Neelambar Hatti (Editor), Hatti Neelambar (Editor)
• Publisher: Taylor & Francis Ltd.
• Languages: English
• Product format: Hardback
• Released: 12.03.2024
• EAN: 9781032631516
• ISBN: 978-1-0-3263151-6
• No. of pages: 222
• Series: Islamic Business and Finance Series
• Subjects: Social sciences, law, business > Business > Individual industrial sectors, branches; BUSINESS & ECONOMICS / Money & Monetary Policy, BUSINESS & ECONOMICS / Marketing / General, BUSINESS & ECONOMICS / Banks & Banking, BUSINESS & ECONOMICS / Finance / General, Banking, BUSINESS & ECONOMICS / Sales & Selling / General, Sales & marketing, Monetary Economics, Sales and marketing, Credit and credit institutions, Credit & Credit Institutions