Interest and the Modern Economy

Zaman, Arshad; Zaman, Asad

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Interest and the Modern Economy

The Lahore Journal of Economics, Vol. 6, No.1, pp. 113-127, 2002

Islamic Economic Studies, Vol. Vol. 8, No. 2, Muharram 1422H (April 2000)

12 Pages Posted: 31 Jan 2009

See all articles by Arshad Zaman

Asad Zaman

Akhuwat University; Al-Nafi

There are 2 versions of this paper

Date Written: January 1, 2002

Abstract

Contrary to common misconceptions, Islamic ban on interest would not adversely affect investments or growth. The paper also lists several disadvantages and inefficiencies resulting from conventional interest based loans, and argues for the merits of the Islamic law regarding interest.

Keywords: Islamic Economics, prohibition of interest

JEL Classification: E49, Z10

Suggested Citation: Suggested Citation

Zaman, Arshad and Zaman, Asad, Interest and the Modern Economy (January 1, 2002). The Lahore Journal of Economics, Vol. 6, No.1, pp. 113-127, 2002, Islamic Economic Studies, Vol. Vol. 8, No. 2, Muharram 1422H (April 2000), Available at SSRN: https://ssrn.com/abstract=1335668