The Problem with Interest

Darussalam Islamic Bookshop Australia

$45.00 
SKU: 480

This book builds upon the authors practical experiences in providing a commentary on the state of the modern banking and finance. In what many will find to be a new approach to the economic problems of our time, a description is given in clear and accessible terms of the extent to which interest now affects humanity.

" After much waiting a refreshing book on the subject of interest has finally appeared. In the din of confusing voices for and against interest, this is an enjoyable frank treatment of the subject... I recommend it as compulsory reading for all those interested in the subject of interest and the islamic position on money and banking." Muhammad Akram Khan Muslim World Book Review 1999 This book builds upon the authors practical experiences in providing a commentary on the state of the modern banking and finance. In what many will find to be a new approach to the economic problems of our time, a description is given in clear and accessible terms of the extent to which interest now affects humanity. Central to the work is a discussion of the modern monetary system, wherein a passionate case is made for reform. In particular, the privilege that commercial banks enjoy to manufacture money and lend it at interest is regarded as a most important cause of economic injustice. With regard to the new ' Islamic financial market', some searching questions are asked of the practices that are currently in vogue and an alternative Islamic banking model is proposed. Tarek El Diwany graduated in accountancy and Finance at the University of Lancaster in 1985. He has worked as a dealer in the conventional capital markets for several years, during which time he also lectured in the field of financial mathematics and options theory. Between 1995 and 1998 he developed investment products in accordance with islamic principles on behalf of a leading financial institution in London, and has since established his own consultancy company.