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Palgrave Macmillan

Islamic Finance

Theory and Practice

  • Book
  • © 1999

Overview

Authors:
  1. Paul S. Mills

    1. UK Debt Management Office, HM Treasury, London, UK

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  2. John R. Presley

    1. University of Loughborough, UK
      The Saudi British Bank, UK

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    You can also search for this author in PubMed   Google Scholar

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Table of contents (9 chapters)

  1. Front Matter

    Pages i-ix
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  2. Islamic Economics and Banking — the Background

    • Paul S. Mills, John R. Presley
    Pages 1-6

  3. The Islamic Critique of Interest

    • Paul S. Mills, John R. Presley
    Pages 7-14

  4. The Interest-free Financial System

    • Paul S. Mills, John R. Presley
    Pages 15-33

  5. Modelling Profit-and-Loss Sharing

    • Paul S. Mills, John R. Presley
    Pages 34-48

  6. Non-interest Banking in Practice

    • Paul S. Mills, John R. Presley
    Pages 49-57

  7. Non-interest Finance and Macroeconomic Stability

    • Paul S. Mills, John R. Presley
    Pages 58-72

  8. Key Issues in the Islamic Financial System

    • Paul S. Mills, John R. Presley
    Pages 73-100

  9. The Prohibition of Interest in Western Literature

    • Paul S. Mills, John R. Presley
    Pages 101-113

  10. Conclusions

    • Paul S. Mills, John R. Presley
    Pages 114-120

  11. Back Matter

    Pages 121-171
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Keywords

About this book

Given the propensity of the world financial system to crisis, this book explores the radical alternative put forward by Islamic (and Western) theories of non-interest banking. The Islamic critique of interest and early experiments with non-interest banking are assessed against the conventional theories regarding banking, company finance and macroeconomic stability. Whilst the experience of Islamic banking has proved inconclusive thus far, the theoretical model provides a cogent alternative to a financial system made fragile by debt contracts.

Authors and Affiliations

  • UK Debt Management Office, HM Treasury, London, UK

    Paul S. Mills

  • University of Loughborough, UK

    John R. Presley

  • The Saudi British Bank, UK

    John R. Presley

About the authors

PAUL S. MILLS is Manager, UK Debt Management Office, HM Treasury, Threadneedle Street, London

JOHN R. PRESLEY is Professor of Economics at Loughborough University. He has written or edited over fifteen books including Banking in the Arab Gulf (with Rodney Wilson), A Guide to the Saudi Arabian Economy (with A. J. Westaway) and Islamic Financial Institutions.

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