Judul: Riba, Bank Interest and the Rational of its Prohibition, 164 Pages.By. Mohammad Nejatullah Siddiqi, IDB IRTI, 2004
Contents:
1. Islam and its Laws
• Tawheed
• Shariah and its Objectives
• Maqasid al-shariah
• Justice and equity
• The Individual
• Role of the state
• History
• Justice in Finance
• Islamic rules for excahnge
• Conclusions
2. Prohibition of Riba
• Quran on riba
• Meaning and incidence of riba
• The riba owed to Abbas
• Reason of prohibition
• Profits Versus Interest
• Quran’s emphasis on charitable giving
• Prophet’s implementation of the prohibition of riba
• Understanding of law of riba by companions of the prophet and those who followed
• Understanding of the law of riba down the ages
• The issues of bank interest
• Arguments for bank interest
• Conclusions
3. Economy without interest
• Liability side of an Islamic Bank
• Capital Protection
• Assets of an Islamic Bank
• Sharing Based Modes of Financ
• Trade based modes of financing
• Murabahah
• Murabahah versus interest
• The Problem of default
• Other assest based instruments
• Islamic banking in the private sector
• Non bank islamic financial institusions
• Islamic investment companies
• Islamic mutual fund
• Islamic insurance/takaful companies
• Stocks, option, derivatives and risk management
• Islamic finance under state sponsorship
• Islamic banking and finance in south east asia
• Islamic finance in Bahrain, Sudan, Iran, Turkey, pakistan, Bangladesh
• The Islamic Development Bank
• Islamic Finance anda international finance
• conclusions
4. Economics of Islamic Finance
• Relative stability of islamic financial system
• Absorption of real shocks
• Stability in the monetary sector
• Exogenous sources of instability
• Relative stability with fixed liabilities
• Limited scope of speculation in an islamic financial system
• Relative efficiensy of an islamic financial system
• Uncertanity and afficiency
• Meeting uncertainty
• Comparative advantage
• Fairness of the islamic financial system
• Sharing enhances equity
• Growth with islamic finance
• Conclusions
5. Meeting Special Needs
• Government finance, financing the consumer, microfinance anda finance for muslim minorities
• Consumer finance
• Islamic modes of house finance
• Credit cards
• Financing agriculture
• Government finance
• Deficit financing
• Muslim minorities and islamic finance
• conclusions
6. Monetary Management, Inflation and indexation
• Regulation and governance
• Inflation
• Indexation
• Conclusions
7. Conclusions and Prospects
• Future of Islamic finance
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