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Ibn Sina Foundation

Money in Islamic economy

by H. Nazari, S.H. Mirjalili, P. Dawudi

15.03.2016

The books provides some insights into economic and social functions of money and the thereto related main financial taboos of the Islamic economy, helping the reader to acquire a correct understanding of Islamic financial phenomena. It investigates relevant issues regarding loans, interests and usury. Furthermore, the author demonstrates the historical cycle of monetary evolution (product — metals — cash), sets out financial assets that fulfil monetary functions, describes different types of money (token money, war money, symbolic money etc) and sheds light on other aspects related to money in Islamic law and Islamic economy.