Monetary Policy: Credit Creation and Control
The preceding chapter dealt essentially with the creation and management of the legal tender or base money and the role of the central bank in ensuring the stability in the internal and external value of currency. This chapter deals with the credit money
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Leading Issues in Islamic Economics and Finance Critical Evaluations
Leading Issues in Islamic Economics and Finance
Zubair Hasan
Leading Issues in Islamic Economics and Finance Critical Evaluations
Zubair Hasan International Centre for Education in Islamic Finance Kuala Lumpur, Malaysia
ISBN 978-981-15-6514-4 ISBN 978-981-15-6515-1 (eBook) https://doi.org/10.1007/978-981-15-6515-1 © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2020 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Palgrave Macmillan imprint is published by the registered company Springer Nature Singapore Pte Ltd. The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore
In memory of my wife Raeesa
Preface
This work is not a ‘book’ in the usual sense of the term, i.e. a treatment of an academic subject in an integrated, cohesive manner; its chapters are not interlinked. Nevertheless, it is a book in an important and useful way. It adopts an inclusive approach, integrating Islamic positions with the mainstream where feasible. In addition, each chapter has some pedagogic features to facilitate understanding and absorption of the arguments without stressing the reader. These include an opening preview of each chapter and a clear statement of its learning objectives. The text is laced with attractive diagrams, well-structured tables, easy mathematical formulations, an explanatory glossary of important terms used, and searching end-of-chapter questions to enable the reader to evaluate if the learning outcomes have indeed been reasonably achieved. Hopefully, they will find this book far ahead of others on this feature alone. The book deals with some leading issues in Islamic economics and finance that continue to remain in a fluid, non-consensual st
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