Money from Islamic perspective: its purpose and time value

• Main Author: Abdul Aziz, Akhtarzaitie
• Other Authors: Soualhi, Younes
• Format: Book Chapter
• Language: English
• Published: IIUM Institute of Islamic Banking and Finance 2009
• Subjects: HG201 Money; KBP1 Islamic law.Shariah.Fiqh
• Online Access: http://irep.iium.edu.my/7575/1/Chapter_10.pdf; http://irep.iium.edu.my/7575/
• Institution: Universiti Islam Antarabangsa Malaysia

Money from Islamic commercial law perspective is essentially a medium of exchange and not an ordinary commodity that can be freely traded for profit. This paper will explore the nature of money in Islamic law and its function. A number of guiding principles in dealing with money will be discussed. N...