Banking and Insurance in Islam (Murtada Mutahhari Books)

Banking and Insurance in Islam is an English rendition of the Persian book ÒMasÕaleh-ye Rib_ wa Bank beh _am_meh-ye MasÕaleh-ye B_mehÓ by the great Muslim thinker and reformer Shah_d Murta__ Mu_ahhar_. Consisting of two parts, the present book is a series of theoretical discussions about usury (rib_), bank, and insurance given by the martyred thinker in 1352-54 AHS (circa 1973-76) at the height of interest on Islamic banking in Muslim countries as inspired by MalaysiaÕs Pilgrimage Fund and the interest-free banking in EgyptÕs countryside of Mit Ghamr village and culminated in the establishment of the Islamic Development Bank (IDB) as an intergovernmental pan-Islamic bank in 1974. Using his signature style of applying traditional Islamic sources to contemporary questions, the author delves into the theories on the philosophy behind the prohibition of usury and explores the concepts of trust, loan, promissory note, ownership, transaction, and guarantee, among others. Among the questions