Understanding the Causes of the Debt-Crisis: Interest-Based Financing
DOI:
https://doi.org/10.52282/icr.v3i4.511Abstract
This article looks at riba-based financing from the perspective of efficiency, within the context of Islam. In particular, it tries to address the question whether interest-based financing results in a more efficient allocation of resources, as claimed by its supporters, than financing on the basis of profit and loss sharing, as claimed by the supporters of Islamic finance. Efficiency is used in this article primarily in its macroeconomic sense, in which it signifies the production of goods and services that meet the needs of the people, without generating persistent surpluses or shortages.
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Published
2012-07-15
How to Cite
Abdullah (Leslie Terebessy), Abdul Karim. 2012. “Understanding the Causes of the Debt-Crisis: Interest-Based Financing”. ICR Journal 3 (4):678-701. https://doi.org/10.52282/icr.v3i4.511.
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