Money in Islamic banking system
The idea of revisiting currency and the gold dinar from an Islamic standpoint is an interesting topic of discussion in the context of the current monetary system. This chapter examines the historical aspects and supremacy of a gold currency and the weakness of fiat money using a maslahah-mafsadah ap...
| Main Authors: | , , |
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| Format: | Book Chapter |
| Language: | English English |
| Published: |
Palgrave Macmillan
2017
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/59669/ http://irep.iium.edu.my/59669/1/59669_Money%20in%20Islamic%20banking%20system.pdf http://irep.iium.edu.my/59669/6/59669_%20front%20matter%20money%20in%20Islami%20banking%20system.pdf |
| _version_ | 1848785350510510080 |
|---|---|
| author | Santoso, Bedjo Ahmad, Khaliq Saiti, Buerhan |
| author_facet | Santoso, Bedjo Ahmad, Khaliq Saiti, Buerhan |
| author_sort | Santoso, Bedjo |
| building | IIUM Repository |
| collection | Online Access |
| description | The idea of revisiting currency and the gold dinar from an Islamic standpoint is an interesting topic of discussion in the context of the current monetary system. This chapter examines the historical aspects and supremacy of a gold currency and the weakness of fiat money using a maslahah-mafsadah approach. It considers some possible alternative forms of gold as money and then discusses some obstacles and barriers in the hope of finding a model of gold as money to implement in the current economic system. A deductive method is used to explore the implementation of a gold currency based on historical study and library research. The findings reveal that money is not limited to gold and silver. However, by deriving new law from original law process, the law (hukm) of gold or silver as money is permissible. |
| first_indexed | 2025-11-14T16:51:45Z |
| format | Book Chapter |
| id | iium-59669 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T16:51:45Z |
| publishDate | 2017 |
| publisher | Palgrave Macmillan |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-596692019-08-20T02:55:46Z http://irep.iium.edu.my/59669/ Money in Islamic banking system Santoso, Bedjo Ahmad, Khaliq Saiti, Buerhan HG1501 Banking HG3368 Islamic Banking and Finance The idea of revisiting currency and the gold dinar from an Islamic standpoint is an interesting topic of discussion in the context of the current monetary system. This chapter examines the historical aspects and supremacy of a gold currency and the weakness of fiat money using a maslahah-mafsadah approach. It considers some possible alternative forms of gold as money and then discusses some obstacles and barriers in the hope of finding a model of gold as money to implement in the current economic system. A deductive method is used to explore the implementation of a gold currency based on historical study and library research. The findings reveal that money is not limited to gold and silver. However, by deriving new law from original law process, the law (hukm) of gold or silver as money is permissible. Palgrave Macmillan 2017 Book Chapter PeerReviewed application/pdf en http://irep.iium.edu.my/59669/1/59669_Money%20in%20Islamic%20banking%20system.pdf application/pdf en http://irep.iium.edu.my/59669/6/59669_%20front%20matter%20money%20in%20Islami%20banking%20system.pdf Santoso, Bedjo and Ahmad, Khaliq and Saiti, Buerhan (2017) Money in Islamic banking system. In: Islamic economies: stability, markets and endowments. Palgrave CIBFR Studies in Islamic Finance . Palgrave Macmillan, Cham, Switzerland, pp. 99-125. ISBN 978-3-319-47936-1 https://link.springer.com/chapter/10.1007/978-3-319-47937-8_7 10.1007/978-3-319-47937-8 |
| spellingShingle | HG1501 Banking HG3368 Islamic Banking and Finance Santoso, Bedjo Ahmad, Khaliq Saiti, Buerhan Money in Islamic banking system |
| title | Money in Islamic banking system |
| title_full | Money in Islamic banking system |
| title_fullStr | Money in Islamic banking system |
| title_full_unstemmed | Money in Islamic banking system |
| title_short | Money in Islamic banking system |
| title_sort | money in islamic banking system |
| topic | HG1501 Banking HG3368 Islamic Banking and Finance |
| url | http://irep.iium.edu.my/59669/ http://irep.iium.edu.my/59669/ http://irep.iium.edu.my/59669/ http://irep.iium.edu.my/59669/1/59669_Money%20in%20Islamic%20banking%20system.pdf http://irep.iium.edu.my/59669/6/59669_%20front%20matter%20money%20in%20Islami%20banking%20system.pdf |