Islamic finance
Subtitle: theory and practice
By: Paul S. Mills and John R. Presley
Contributors: Presley, John R
Publisher: St. Martin's Press
Published: 1999
Place of publication: New York
Language: eng
Number of pages: 171
Subjects: Banks and banking -- Islamic countries; Banks and banking -- Religious aspects -- Islam
Description: "This book reviews the Islamic opposition to interest and assesses the feasibility of a non-interest financial system in light of current economic theory. The Islamic critique of interest is set against a discussion of the methodology of Islamic economics and the opposition to interest within the Judaeo-Christian tradition.

The range of Islamic non-interest financial contracts is then detailed along with a review of the performance of Islamic banks to date: a model of the allocation of finance within a non-interest system is then presented. The conclusions outline the advantages and disadvantages of a theoretical non-interest economy, affirm the theoretical case for the prohibition of interest, and draw practical lessons for contemporary Western economies."--BOOK JACKET.
Notes: Includes bibliographical references (p. 142-164) and index