Real money : money and payment systems from an Islamic perspective

Mydin Meera, Ahamed Kameel , ed. (2009) Real money : money and payment systems from an Islamic perspective. IIUM Press, Kuala Lumpur. ISBN 9789673855766

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Abstract

The present unstable and anarchic global monetary system is primarily due to multiple national currencies that are not anchored to anything rela like gold. An urgent revamp of the global monetary system is, therefore, necessary to 'save' the world from falling into the brink of destruction and misery. This edited book discusses this much needed alternative monetary system that is based on real money as opposed to fiat money. A real money is a commodity-based money. Historically, gold and silver were the dominant commodity monies that provided the world with a stable and just international unit of account and means of payments. Under gold standard, central banks were not needed and the world shared a common currency without political integration. The book, nevertheless, approaches this monetary issue from an Islamic viewpoint. Gold and silver were indeed the monetary standards in the Shari'ah. The rulings on mu'amalat, zakat, hudud and mahr were all based on gold and silver. An important aspect of this book is that it discusses how real-money payment systems could be operated practically given present circumstances, laws and infrustructure.

Item Type:	Book
Additional Information:	576/208 HG1252M742M 2009
Uncontrolled Keywords:	Money-Religious aspects-Islam, Money, Gold, Dinars-Banks and banking-Religious aspects-Islam
Subjects:	H Social Sciences > HG Finance > HG201 Money H Social Sciences > HG Finance > HG201 Money
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	Mrs. Wan Salwati Wan Salleh
Date Deposited:	10 May 2011 14:38
Last Modified:	06 Dec 2011 16:43
URI:	http://irep.iium.edu.my/id/eprint/208

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