Organic global cryptocurrency: towards a stable international monetary system that is closer to Maqāṣid Sharīʿah
Purpose – The most prominent and persistent problems of our global monetary system are instability and imbalances. We propose an international monetary model to solve these problems while at the same time move the model closer to Maqāṣid Sharīʿah (objectives of Sharīʿah). We name this an organic glo...
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2020-10-01
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| Series: | Islamic Economic Studies |
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| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/IES-10-2019-0032/full/pdf |
| _version_ | 1797789130927636480 |
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| author | Abdurrahman Arum Rahman |
| author_facet | Abdurrahman Arum Rahman |
| author_sort | Abdurrahman Arum Rahman |
| collection | DOAJ |
| description | Purpose – The most prominent and persistent problems of our global monetary system are instability and imbalances. We propose an international monetary model to solve these problems while at the same time move the model closer to Maqāṣid Sharīʿah (objectives of Sharīʿah). We name this an organic global monetary model or abbreviated as OGM. OGM is an international monetary model directly built on the national monetary system of each member country so that the two can co-exist. Design/methodology/approach – Model design, theory and literature. Findings – The model can eliminate interest rates at the central bank level, create non-tradable international money, and make a more stable international monetary system. Originality/value – Original. |
| first_indexed | 2024-03-13T01:45:24Z |
| format | Article |
| id | doaj.art-2fff4dd28744436baaec58eb385d95e2 |
| institution | Directory Open Access Journal |
| issn | 1319-1616 2411-3395 |
| language | English |
| last_indexed | 2024-03-13T01:45:24Z |
| publishDate | 2020-10-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | Islamic Economic Studies |
| spelling | doaj.art-2fff4dd28744436baaec58eb385d95e22023-07-03T08:12:53ZengEmerald PublishingIslamic Economic Studies1319-16162411-33952020-10-01281638210.1108/IES-10-2019-0032Organic global cryptocurrency: towards a stable international monetary system that is closer to Maqāṣid SharīʿahAbdurrahman Arum Rahman0Global Currency Initiative, Jakarta, IndonesiaPurpose – The most prominent and persistent problems of our global monetary system are instability and imbalances. We propose an international monetary model to solve these problems while at the same time move the model closer to Maqāṣid Sharīʿah (objectives of Sharīʿah). We name this an organic global monetary model or abbreviated as OGM. OGM is an international monetary model directly built on the national monetary system of each member country so that the two can co-exist. Design/methodology/approach – Model design, theory and literature. Findings – The model can eliminate interest rates at the central bank level, create non-tradable international money, and make a more stable international monetary system. Originality/value – Original.https://www.emerald.com/insight/content/doi/10.1108/IES-10-2019-0032/full/pdfGlobal currencyZero interest rateNon-tradable money |
| spellingShingle | Abdurrahman Arum Rahman Organic global cryptocurrency: towards a stable international monetary system that is closer to Maqāṣid Sharīʿah Islamic Economic Studies Global currency Zero interest rate Non-tradable money |
| title | Organic global cryptocurrency: towards a stable international monetary system that is closer to Maqāṣid Sharīʿah |
| title_full | Organic global cryptocurrency: towards a stable international monetary system that is closer to Maqāṣid Sharīʿah |
| title_fullStr | Organic global cryptocurrency: towards a stable international monetary system that is closer to Maqāṣid Sharīʿah |
| title_full_unstemmed | Organic global cryptocurrency: towards a stable international monetary system that is closer to Maqāṣid Sharīʿah |
| title_short | Organic global cryptocurrency: towards a stable international monetary system that is closer to Maqāṣid Sharīʿah |
| title_sort | organic global cryptocurrency towards a stable international monetary system that is closer to maqasid shariʿah |
| topic | Global currency Zero interest rate Non-tradable money |
| url | https://www.emerald.com/insight/content/doi/10.1108/IES-10-2019-0032/full/pdf |
| work_keys_str_mv | AT abdurrahmanarumrahman organicglobalcryptocurrencytowardsastableinternationalmonetarysystemthatisclosertomaqasidshariʿah |