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Beyond debt : Islamic experiments in global finance

Author :  Daromir Rudnyckyj

Product Details

Country
Singapore
Publisher
NUS press, Singapore
ISBN 9789813250123
Format PaperBack
Language English
Year of Publication 2018
Bib. Info viii, 264p. Includes Index
Product Weight 450 gms.
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Product Description

1. Finance, Public – Malaysia 2. Finance, Public – Islamic countries 3. Finance – Religious aspects – Islam 4. Bonds (Islamic law) – Islamic countries 5. Debt equity conversion – Islamic countries. Book Details: Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change-yet there is little popular awareness of possible alternatives. Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank, seeks to make the country's capital Kuala Lumpur "the New York of the Muslim world"-the central node of global financial activity conducted in accordance with Islam. Rudnyckyj shows how Islamic financial experts have undertaken ambitious experiments to create more stable economies and stronger social solidarities by facilitating risk- and profit-sharing, enhanced entrepreneurial skills, and more collaborative economic action.

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