The Problem with Interest By Tarek El-Diwany

ISBN: 9780954497415
Author: Tarek El Diwany
Binding: Softcover
Pages: 288
Size: 5.8 x 8.3 inches
Publication Year: 2010
Description
About This Book:
Tarek El-Diwany's 'The Problem with Interest' is a thought-provoking investigation of the ethical, economic, and spiritual elements of interest (riba) in financial transactions. This book provides as a comprehensive guide for readers looking to grasp the inherent challenges connected with interest-based systems and feasible alternatives that accord with ethical and Islamic financial principles, with a strong emphasis on Islamic finance concepts.
Uncovering the Ethical Issues:
Tarek El-Diwany investigates the ethical quandaries surrounding interest-based transactions, examining the consequences for people, communities, and society. The book examines the moral implications of interest, raising concerns about its impact on economic fairness and social equity.
Islamic Finance Principles:
'The Problem with Interest' explains the underlying ideas of Islamic banking as an alternative to interest-based systems. Tarek El-Diwany delves into the Quranic verses and Prophetic traditions that inspire Islamic economic concepts, focusing on fairness, justice, and ethical behavior in financial transactions.
Economic Consequences:
The book investigates the economic consequences of interest-based systems, examining how they might contribute to financial instability, wealth disparity, and societal inequities. Tarek El-Diwany makes a convincing case for rethinking the conventional banking model and embracing alternatives that promote economic stability and inclusivity.
Spiritual Dimensions:
Beyond economic reasons, the author digs into the spiritual aspects of engaging in interest-based transactions. 'The Problem with Interest' investigates how such financial activities may contradict Islamic ideals of ethical conduct, honesty, and compassion, encouraging readers to consider the spiritual ramifications of their financial decisions.