Ownership Effects of Fractional Reserve Banking: An Islamic Perspective

Ownership Effects of Fractional Reserve Banking An Islamic Perspective

Fractional reserve banking (FRB) is the basis of the present-day monetary systems. In most countries, Islamic Banking and Finance too operates under this principle. This article argues that the FRB has effects on the ownership structure of assets in … [Continue reading]

Fiat Money and Economic Degradation of the Malays

Fiat Money and Economic Degradation of the Malays

Abstract This article argues that the wealth of the Malays in Peninsula Malaysia has been systematically plundered away from them through the interest-based fiat money banking system. This is also true for other Bumiputras that includes the … [Continue reading]

Fiat Money and Interest Groups

Fiat Money and Interest Groups

The domain of political economy is the struggle for wealth and power.  These two normally go hand in hand; if one has power one can command wealth and wealth can also lead to power.  In time immemorial, mankind has fought countless wars and battles … [Continue reading]

Malaysia Domestic Debt Issue

Malaysia Domestic Debt Issue

Lately some local media, particularly on-line ones, claimed that Malaysia’s domestic debt has risen to potentially dangerous levels that can, in the near future, put the country in a major debt crisis. Here’s one by Ida Lim that was posted in the … [Continue reading]

The Finance Cooperatives: The Way Forward in Islamic and Conventional Finance.

[Continue reading]

CALL FOR PAPERS for 3rd Annual World Conference on Riba

RIFCON - RIBA FREE ECONOMY

CALL FOR PAPERS 3rd Annual World Conference on Riba Kuala Lumpur, 26th-27h November,2012 “The Multifaceted Global Crises of Riba: Resilience, Response & Reform” As a sequence to the highly successful 1st and 2nd World Conference on Riba … [Continue reading]

Case for Gold Dinar Idea

Case for Gold

I refer to the letter “Gold dinar impractical” (The Star, July 6) where Goh Hoe Hoe of Penang argued that the gold dinar initiative by the Kelantan government as impractical.  From an economic reasoning this would be true so long the legal tender law … [Continue reading]

Fiat Currency – Inflation & Bubbles

Prof. Dr. Ahamed Kameel Mydin Meera speaks about the fiat currency being created "in surplus" of the real economy causing inflation and bubbles. He also suggested some solutions to overcome this problem. … [Continue reading]

Islamic Gold Dinar: The Historical Standard

Islamic Gold Dinar The Historical Standard

Abstract Lately, there have been questions on what the standards for gold dinar and silver dirham are.  Since the dinar and dirham indeed formed the Shari’ah monetary standards from the time of the Prophet pbuh, our work can, therefore, only involve … [Continue reading]

Compound Interest & Mega Trends – Food for Thought

Compound Interest & Mega Trends – Food for Thought

Undoubtedly, the world is currently observing some powerful mega trends taking place, particularly of climate change, economy and politics.  The world accordingly seems poised for some mega historical changes – technology, finance, economy, social … [Continue reading]