Interest prohibition and financial product innovation

Details Interest prohibition and financial product innovation Interest prohibition and financial product innovation

2011-04-13

arxiv.org/abs/1104.2471v1

Economy

Quantitative Finance

General Finance

9 pages

Scientific paper

We give a rough sketch of the Judaic, Greek, Islamic and Christian positions
in the matter of interest prohibition during the last few millennia and discuss
the way in which interest prohibition is dealt with in Islamic finance, the
problems with authority-based arguments for interest prohibition, and the
prospects of interest prohibition with the advent of electronic money.

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