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Islamic Interest-Free Banking: A Theoretical Analysis النظام المصرفي الإسلامي الخالي من الفائدة : تحليل نظري ( ترجمة عربية )

Author

Listed:
  • MOHSIN S. KHAN

    (INTER WA TIONAL MONETARY FUND WASHINGTON, D.C., USA)

Abstract
This paper presents essential features of an Islamic banking system that is interest-free and consisted with the rules of Shariah (Islamic Law). An analytical model is used, employing tools and concepts of modern economics. The purpose of the exercise is fourfold: first, to show that the Islamic banking system can be formulated in a neoclassical framework; second, to demonstrate that, when cast in this formal way, the model underlying Islamic banking is not totally alien to conventional economic thinking (indeed, it is pointed out that variants of such a system have appeared in the writings of a number of eminent economists, such as Fisher (1945), Simons (1948), and Friedman (1969); third, to argue that there may be circumstances in which an Islamic banking system would be relatively more stable than the traditional interest-based banking system in the ace of certain types of shocks; finally, to propose how the Islamic banking system should be implemented so as to maximize its inherent benefits. في هذا البحث تحليل فني منهجي للخصائص الرئيسية للنظام المصرفي الإسلامي باستخدام الأدوات والمفاهيم الاقتصادية الحديثة ، مع تقديم نموذج نظري لنظام مصرفي لا يسمح بسعر الفائدة، ويمكن اعتباره متسقاً بوجه عام مع المبادئ الإسلامية . ولهذا البحث أربعة أهداف ، أولها : إبراز إمكانية صياغة منطقية للنظام المصرفي الإسلامي حتى في إطار قواعد المدرسة الكلاسيكية الجديدة. وثانيها : التوضيح بأنه في الصياغة المنهجية ، لا يبدو النموذج الذي يستند إليه هذا النظام غريباً تماماً على التفكير الاقتصادي الحديث ، بل إن صوراً تشبهه قد ظهرت في كتابات اقتصاديين بارزين مثل : فيشر fisher ( 1945) ، وسايمونز simons (1948) ، وفريدمان friedman . وثالثها : بيان أنه في ظل ظروف معينة قد يكون هذا النظام أكثر استقراراً نسبياً من النظام المصرفي التقليدي ، المبني على سعر الفائدة ، في مواجهة أنواع معينة من الصدمات . ورابعها : اقتراح كيفية تنفيذ النظام المصرفي الإسلامي على نحو يعظم المنفعة منه.

Suggested Citation

  • Mohsin S. Khan, 1997. "Islamic Interest-Free Banking: A Theoretical Analysis النظام المصرفي الإسلامي الخالي من الفائدة : تحليل نظري ( ترجمة عربية )," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 9(1), pages 3-36, January.
    • Handle: RePEc:abd:kauiea:v:9:y:1997:i:1:no:6:p:3-36
    DOI: 10.4197/islec.9-1.6
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    References listed on IDEAS

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    1. Roque B. Fernández, 1983. "Implicancias Dinámicas de la Propuesta de Simons para Reforma del Sistema Financiero," CEMA Working Papers: Serie Documentos de Trabajo. 39, Universidad del CEMA.
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    3. Shahrukh Rafi KHAN*, 1984. "An Economic Analysis Of A Pls Model For €˜The Financial Sector," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 3(2), pages 89-105.
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