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13d. Riba, Usury, and Interest Free Economics

Abbas, A. B. M. “The Rejection of Interest and the Advocacy of Profit-Sharing in Islamic Economics.” M.Sc. thesis, University of Wales, Cardiff, 1987.

Abdus-Shaid, T. S. “Interest, Usury and the Islamic Development Bank: Alternative, Non-Interest Financing.” Law and Policy in International Business 16 (1984): 1095–1136.

Ahmad, Sheikh Mahmud. Toward Interest-Free Banking. Lahore: Institute of Islamic Culture, 1989.
_______. “Interest and Unemployment.” Islamic Studies 8, no. 1 (n.d.): 9–46.

Ahmed, Ziauddin. “Conversion of Interest Based Banking to Islamic Interest-Free Banking.” In Encyclopedia of Islamic Banking and Insurance, 174–89. London: Institute of Islamic Banking and Insurance, 1995.
_______. “Interest-Free Banking.” Journal of Islamic Banking and Finance 4 (January-March 1987): 8–30
_______. Some Misgivings about Islamic Interest Free Banking. Khartoum, Sudan: Faisal Islamic Bank, 1985.

Al-Dharrab, Ibrahim Abdul-Aziz. “Economic Analysis of Interest-Free Economies.” Ph.D. diss., Stanford University, 1987.

Al-Suwailim, S. “The Attitude of Sharia’h toward Debt.” Review of Islamic Economics 4, no. 2 (1997): 1A–75A.

Ansari-Pour, M. A. “The Illegality of Taking Interest in Muslim Countries.” Arab Law Quarterly 11, no. 3 (1996): 281–84.

Anwar, Muhammad. “A Macroeconomic Model for Interest-Free Economics: An Integrative Study of Western and Islamic Economic Systems.” Ph.D. diss., University of New Hampshire, 1985.
_______. Modeling Interest-Free Economy: A Study in Macroeconomics and Development. Islamization of Knowledge series, no. 4. Herndon, Va.: International Institute of Islamic Thought, 1987.

Bashir, Abdel-Hameed Mohammed. “Financial Contracts in Interest-Free Islamic Economics: Theory and Practice.” Ph.D. diss., University of Wisconsin, Madison, 1990.

Chapra, Muhammad Umar. “Why Has Islam Prohibited Interest?: Rationale Behind the Prohibition of Interest.” Review of Islamic Economics no. 9 (2000): 5–20.
______. “The Prohibition of Riba in Islam: An Evaluation of Some Objections.” American Journal of Islamic Studies 1, no. 2 (1984): 23–40.

Chinoy, Sajjid. “Interest-Free Banking: The Legal Aspects of Islamic Financial Transactions.” Journal of International Banking Law 12, no. 12 (1995): 517–24.

Choudhury, Masudal Alam. “The Role of Profit Rate in Islamic Development Financing.” In Toward An Islamic Common Market: Proceedings of the International Seminar on Islamic Common Market Held during December 18–20, 1993, eds. Ayubur Rahman Bhuyan et al., 67–90. Dhaka, Bangladesh: Islamic Economic Research Bureau, 1996.

Darrat, Ali F. “The Islamic Interest-Free Banking System: Some Empirical Evidence.” Applied Economics 20, no. 3 (March 1988): 417–25.

Ebrahim, Muhammed-Shahid, and Zafar A. Hasan. “Mortgage Financing for Muslim Americans.” American Journal of Islamic Social Sciences 10, no. 1 (1993): 72–87.

El Gousi, Abdelmoneim Mohamoud. “Riba: Islamic Law and Interest.” Ph.D. diss., Temple University, 1982.

Habibi, Nadir. “The Economic Consequences of the Interest-Free Islamic Banking Systems.” Ph.D. diss., Michigan State University, 1987.

Haque, Nadeem Ul. Saving Behavior in an Economy without Fixed Interest. Development Research Department Discussion Paper, no. 184. Washington, D.C.: Development Research Department, World Bank, 1986.

Haque, Nadeem Ul, and Abbas Mirakor. Optimal Profit-Sharing Contracts and Investment in an Interest-Free Islamic Economy. Development Research Department Discussion Paper, no. 205. Washington, D.C.: Development Research Department, World Bank, 1986.

Haque, Ziaul. Riba: The Moral Economy of Usury, Interest, and Profit. Kuala Lumpur: S. Abdul Majeed and Co., for IKRAQ, 1995.
_______. “The Nature and Significance of the Medieval and Modern Interpretations of Riba.” Pakistan Development Review 32, no. 4, pt. 2 (1993): 933–46.
_______. Islam and Feudalism: The Economics of Riba, Interest, and Profit. Delhi, India: Aakif Book Depot, 1991.

Haron, Sudin. “The Framework and Concept of Islamic Interest-Free Banking.” Journal of Asian Business 11, no. 1 (1995): 26–39.

Hasan, Z. “Determination of Profit snd Loss Sharing Ratios in Interest-Free Business Finance.” Journal of Research in Islamic Economics 3 (1985): 13–30.

Hoshmand, A. R. “Profit and Loss Sharing in Islamic Banking: Alternative Financing for Agriculture in Developed and Developing Countries?” Journal of South Asian and Middle Eastern Studies 19, no. 1 (1995): 72–86.

International Institute of Islamic Economics. “Strategy for the Elimination of Riba: Report on Islamic Financial System Issued by the International Institute of Islamic Economics, International Islamic University, Islamabad.” Journal of Islamic Banking and Finance 17, no. 2 (2000): 7–25.

Irshad, S. A. Interest-Free Banking. Karachi: Orient Press of Pakistan, 1964.

Johansen, Baber. The Islamic Law on Land Tax and Rent. London: Croom Helm, 1988.

Katouzian, H. “Rib and Interest in an Islamic Political Economy.” Peoples Meditterraneens no. 14 (Jan-Mars 1981): 97–109.

Khan, Abdul Jabbar. “Interest-Free Banking.” Pakistan Studies 1, nos. 3–4 (1982): 107–13.

Khan, J. A. “Feasibility of Interest-Free Banking: Experiments in Saudi Arabia and Egypt.” Ph.D. diss., Aligarh Muslim University (India), 1988.

Khan, M. S. “Islamic Interest-Free Banking: A Theoretical Analysis.” In Theoretical Studies in Islamic Banking and Finance, eds. Mohsin S. Khan and Abbas Mirakor, 15–35, 201–206. Houston, Tex.: Institute for Research and Islamic Studies, 1987.
_______. “Islamic Interest Free Banking.” IMF Staff Papers 33, no. 1 (1986): 1–27.

Khan, Shahrukh Rafi. Profit and Loss Sharing: Experiment in Finance and Banking. New York: Oxford University Press, 1987.
_______. “Profit and Loss Sharing as a Substitute for Interest in Islamic Banking.” Savings and Finance no. 3 (1987): 317–27.

Khan, Waqar Masood. Toward an Interest-Free Islamic Economic System: A Theoretical Analysis of Prohibiting Debt Financing. Islamic Economic Series, no. 11. Islamabad: International Association of Islamic Economics; Leicester, U.K.: Islamic Foundation, 1985.

Metwally, M. M. “Interest-Free (Islamic) Banking: A New Concept in Finance.” Journal of Banking and Finance Law and Practice 5, no. 2 (1994): 119–27.

Mika’ilu, A. S. “On the Prohibition of Riba (Interest) and the Implications for Optimum Economic Performance.” Hamdard Islamicus 12, no. 1 (1989): 57–65.

Mills, P. “Should Interest Exist?: Non-Usurious Finance in Economic Thought, Theory, and Practice.” Ph.D. diss., University of Cambridge, 1995.

Muhammad, Bayero Ahmad Sabir. “Inventory Management without Interest: The Islamic Perspective.” Hamdard Islamicus 22, no. 1 (1999): 75–79.

Mukherji, Badal. Theory of Growth of a Firm in a Zero Interest Rate Economy. Jeddah: Centre for Research in Islamic Economics, King Abdulaziz University, 1984.

Naqvi, Syed Nawab Haider. On Replacing the Institution of Interest in a Dynamic Islamic Economy. Essays in Islamic Economic Philosophy, no. 3. Islamabad: Pakistan Institute of Development Economics, 1981.

Naqvi, Syed Nawab Haider, and Asghar Qadir. A Model of a Dynamic Islamic Economy and the Institution of Interest. Essays in Islamic Economic Philosophy, no. 4. Islamabad: Pakistan Institute of Development Economics, 1986.

Noorzoy, M. Siddieq. “Islamic Laws on Riba Interest and Their Economic Implications.” International Journal of Middle Eastern Studies 14, no. 1 (1982): 3–17.

Pervez, Imtiaz Ahmed. “Does Zero Interest Rate Equal Zero Discount Rate?” New Horizon (London) no. 68 (1997): 13.

Qadri, S. M. “The Quranic Approach to the Problem of Interest in the Context of Islamic Social System.” Islamic Culture (India) 60 (1981): 35–47.

Quazi, N. “Economic Morality in Islam.” Hamdard Islamicus 16, no. 4 (1993): 89–102.

Qureshi, Anwar Iqbal. Islam and the Theory of Interest. Lahore: Shaikh M. Ashraf, 1946.

Rahman, Tanzilur. “Alternatives to Riba.” Hamdard Islamicus 23, no. 3 (2000): 65–75.

Saeed, Abdullah. Islamic Banking and Interest: A Study of the Prohibition of Riba and Its Contemporary Interpretation. Studies in Islamic Law and Society, no. 2. New York: E. J. Brill, 1996.

Saleh, Nabil A. Unlawful Gain and Legitimate Profit in Islamic Law: Riba, Gharar, and Islamic Banking. 2nd ed. Boston: Graham and Trotman, 1992.

Sattar, Zaidi. “A Dynamic Investment Model with Profit-Sharing in an Interest-Free Economy: Methodological Issues.” American Journal of Islamic Social Sciences 8, no. 1 (1991): 109–28.
_______. “Interest-Free Economics and the Islamic Macroeconomics System.” Pakistan Economic and Social Review 27, no. 2 (1989): 109–38.

Shepherd, W. G., Jr. “What Exactly Is Riba?” Global Finance 10, no. 5 (May 1996): 48.

Siddiqui, M. A. M. “Riba-Usury and Interest: Quran’s Verdict Is Clear.” Islamic Order 2, no. 2 (1980): 40–70.

Siddiqui, Muhammad Nejatullah. Banking without Interest. Islamic Economics Series, no. 5. Leicester, U.K.: Islamic Foundation, 1983.

Tahir, S. “The Qu’ran and Riba.” Qur’anic Horizons 1, no. 2 (1996): 30–56.

Uzair, Mohammad. “Some Conceptual and Practical Aspects of Interest-Free Banking.” Islamic Studies 15 (1976): 247–69.
_______. An Outline of Interestless Banking. Karachi: Raihan Publications, 1955.

Wilson, Rodney. “The Issue of Interest and the Islamic Financing Alternatives.” Journal of International Banking Law 13, no. 1 (1998): 23–29.

Yousefi, Mahmood, et al. “Islamic Banking and Friedman’s Role.” Review of Social Economy 53, no. 1 (1995): 65–87.

Zaidi, N. A. “Performance of Banks under a Non-Interest System.” Journal of Islamic Banking and Finance 8, no. 1 (1991): 42–50.

Zangeneh, Hamid. “A Macroeconomic Model of an Interest Free System.” Pakistan Development Review 34, no. 1 (1995): 55–68.

Zangeneh, Hamid, and Ahmad Salam. “Central Banking in an Interest Free Banking System.” Journal of Research in Islam Economics (Center for Research in Islamic Economics, King Abulaziz University, Jeddah, Saudi Arabia) 5 (1993): 25–35.

Zineldin, Mosad. The Economics of Money and Banking: A Theoretical and Empirical Study of Islamic Interest-Free Banking. Stockholm: Almqvist and Wiksell International, 1990.

 

 

Copyright © 2000 John Noyce.
Reprinted with permission.

   
 
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