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Title A history of interest and debt : ancient civilizations / edited by Murat Ustaoğlu and Ahmet İncekara
Published Abingdon, Oxon ; New York, NY : Routledge, 2020
Online access available from:
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Description 1 online resource (xvii, 134 pages)
Series Islamic business and finance
Islamic business and finance series.
Summary "With the spread of interest-based transactions, major problems such as inequality, poverty and debt-based slavery have emerged. Those who practiced professions such as usury have, despite the negative connotations attributed to them, contributed extensively to the construction of the conventional financial system in the global economy, suggesting that the core concepts in this practice need to be analyzed in greater depth and from a historical perspective. This book analyses the evolution of interest-bearing debt transactions from Ancient times to the era of Abrahamic religions. In modern times, interest is strictly prohibited by Islam but this book demonstrates that it is a practice that has been condemned and legally and morally prohibited in other civilizations, long before Islam outlawed it. Exploring the roots of this prohibition and how interest has been justified as a viable practice in economic and financial transactions, the book offers deep insight into the current nature of finance and economics, and the distinctive features of Islamic finance in particular and enables researchers to further delve into a review of interest-free financing models. Islamic finance, or alternative financial methods have become extremely popular particularly in the aftermath of global financial crises, suggesting that they will attract further interest in the future as well. The book is primarily aimed at undergraduate and graduate students but, as it avoids the use of technical jargon, it also speaks to a general readership. It will appeal to those who have an interest in financial history, particularly the history of borrowing practices as well"-- Provided by publisher
Bibliography Includes bibliographical references and index
Notes Murat Ustaoğlu is an associate professor of economics at Istanbul University, Istanbul, Turkey, and currently a visiting scholar at the City University of New York, USA. Ahmet İncekara is a professor of economics at Istanbul University, Istanbul, Turkey
Description based on online resource; title from digital title page (viewed on June 17, 2020)
Subject Consumer credit -- History
Debt -- History
Interest (Islamic law)
Interest rates -- History
BUSINESS & ECONOMICS / Economic History
Consumer credit.
HISTORY / Middle East / General
Interest (Islamic law)
Interest rates.
Genre/Form History.
Form Electronic book
Author İncekara, Ahmet, editor.
Ustaoglu, Murat, 1976- editor.
LC no. 2020008613
ISBN 1000089797