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Palgrave Macmillan

The Gold Standard Anchored in Islamic Finance

  • Book
  • © 2014

Overview

Authors:
  1. Hossein Askari
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  2. Noureddine Krichene
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Part of the book series: The Political Economy of the Middle East (PEME)

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Table of contents (11 chapters)

  1. Front Matter

    Pages i-xiii
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  2. Introduction

    • Hossein Askari, Noureddine Krichene
    Pages 1-25

  3. The Shortcomings of the Present Payments System

    • Hossein Askari, Noureddine Krichene
    Pages 27-59

  4. The Horrors of Hyperinflations

    • Hossein Askari, Noureddine Krichene
    Pages 61-89

  5. Origins of Gold as Money

    • Hossein Askari, Noureddine Krichene
    Pages 91-107

  6. The Gold Standard

    • Hossein Askari, Noureddine Krichene
    Pages 109-124

  7. Gold and the International Payments System

    • Hossein Askari, Noureddine Krichene
    Pages 125-138

  8. Bimetallism and the Gold-Exchange Standard

    • Hossein Askari, Noureddine Krichene
    Pages 139-162

  9. Recurrence of Financial Crises and Suspensions of Gold Payments

    • Hossein Askari, Noureddine Krichene
    Pages 163-179

  10. Strategies for Reintroducing the Gold Standard

    • Hossein Askari, Noureddine Krichene
    Pages 181-202

  11. Islamic Money and Capital Markets

    • Hossein Askari, Noureddine Krichene
    Pages 203-231

  12. The Gold Standard in Islamic Finance

    • Hossein Askari, Noureddine Krichene
    Pages 233-244

  13. Back Matter

    Pages 245-271
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Keywords

About this book

Askari and Krichene provide a comprehensive background for recent international financial crises rapid expansion of interest-bearing debt and monetary expansion though the fractional reserve banking system. In this context, the authors provide an analysis of the experience and issues associated with international payments systems the various forms of the gold standard, the Bretton Woods system and the present system of flexible exchange rates. The authors go on to examine the case for fixed exchange rates (gold standard and other interesting variations) anchored in Islamic finance. The message of this book is that the gold standard could provide a solution for addressing international financial instability if and only if it is anchored in 100% reserve banking, which is an essential pillar of Islamic finance.

About the authors

Author Hossein Askari: Hossein Askari is Iran Professor of International Business and International Affairs, George Washington University, USA.

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