A Comparison of the Operational Aspects in Islamic and Non-Islamic Banking Systems
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Abstract:
The present paper is an attempt to: 1- Demonstrate how money is created (by the nature of the system), and to estimate the inflation resulting from monetary factors in both usurious and non-usurious systems. Operational aspects of Islamic and non-Islamic banking systems are compared. 2- Introduce a corrective term to be added to the multiplier of the supply of money, in order to prevent the under-estimation of the multiplier into the usurious system.
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volume 8 issue 8
pages 47- 62
publication date 2003-01-01
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