Money in Classical Islam
Legal Theory and Economic Practice
Bibliographic Data
| ID | 12192453 |
|---|---|
| Authors | Norbert Oberauer (Westfälische Wilhelms-Universität, corresponding author) |
| Year | 2018 |
| Volume | 25 |
| Issue | 4 |
| Pages | 427-466 |
| Publication date | 2018-05-28 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Islamic Law and Society (JOURNAL) |
| Journal identifiers | ISSN: 0928-9380 • E-ISSN: 1568-5195 |
| Publisher | Brill (PUBLISHER • NL) |
| DOI | 10.1163/15685195-00254a03 |
| OpenAlex | W2805379693 |
| Language | EN |
| Citations received | 3 |
The present study examines the conception of money in classical Islamic law, specifically the relationship between scholarly discourses on money and actual economic practice. I shall argue that the theoretical concept of money was to some extent a fiction. Muslim jurists conceived of money in terms of a three-tier currency system that involved gold dinars, silver dirhams and copper fulūs . The market was much more complex. A wide range of coins of various metallic content, weight and value circulated. In the first part of the study I describe the complexity of Islamic money markets. In the second part, I investigate how scholars reacted to the gap between theory and practice and posit some tentative conclusions about the relationship between Islamic law and practice
Currency · Economics · Islam · Monetary economics · Monetary policy · Positive economics · Public economics · Quantity theory of money · Sharia · Theology · Time value of money · Value (mathematics · Value for money · Islamic Finance and Banking Studies · Islamic Studies and History · Mathematics · Philosophy · Finance
| Citations per year | 1 |
|---|---|
| Citation span | 2023 - 2025 (3) |
| Highly cited | No |