Interest is deeply embedded into modern capitalist economies. Setting interest rate to zero is likely to crash such economies; modern forms of financial capitalism cannot function with zero interest. A collection of coordinated changes need to be considered to create an Islamic economy, one which entails a lot more than just zero interest. This talk will discuss how to create an Islamic economy that can provide basic necessities, promote equal educational opportunities, and enable all members to contribute productively to society; in addition to stabilizing the price of money by setting both inflation and interest rate to zero.
Speaker:
Dr. Asad Zaman
Former Vice-Chancellor - Pakistan Institute of Development Economics (PIDE),
Director - Uloom-ul-Umran, Al Nafi Online Education
