A History of Interest and Debt: Ancient Civilizations

The book explores the evolution of interest-bearing debt transactions from ancient times to the era of Abrahamic religions, demonstrating that it is a practice that has been condemned and prohibited in other civilizations long before Islam outlawed it. It offers insight into the current nature of finance and economics and the distinctive features of Islamic finance, and is primarily aimed at undergraduate and graduate students and a general readership.

Format: Paperback / softback
Length: 152 pages
Publication date: 29 April 2022
Publisher: Taylor & Francis Ltd

The advent of interest-based transactions has brought forth
about significant challenges, including inequality, poverty, and debt-based slavery. Individuals who engaged in professions like usury have played a substantial role in constructing the traditional financial system within the global economy, highlighting the need for a deeper analysis of these core concepts from a historical perspective.

This book delves into the evolution of interest-bearing debt transactions from ancient times to the era of Abrahamic religions. While Islam strictly prohibits interest in modern times, it reveals that this practice has been condemned and outlawed in other civilizations long before Islam's prohibition. The book explores the roots of this prohibition and examines how interest has been justified as a viable practice in economic and financial transactions. By offering insights into the current nature of finance and economics, particularly Islamic finance, the book facilitates further exploration of interest-free financing models.

Islamic finance, also known as alternative financial methods, has gained widespread popularity, particularly in the aftermath of global financial crises. This trend suggests that interest in these methods will continue to grow in the future. The book is primarily designed for undergraduate and graduate students, but its accessible language makes it accessible to a broader audience interested in financial history, including the history of debt.

Dimension: 234 x 156 (mm)
ISBN-13: 9780367517755