Paper money in Sheikh Ahmad Khatib Al-Minangkabawi's thought: a comparative and critical commentary
Purpose – The article examines Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of paper money, which in the early 20th century wrote Risala Raf'u Al-Iltibas. Design/methodology/approach – This paper uses a qualitative approach based on the critical extraction analysis that can revea...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2021-09-01
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| Series: | Islamic Economic Studies |
| Subjects: | |
| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/IES-10-2020-0043/full/pdf |
| _version_ | 1797789107229818880 |
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| author | Muhammad Sholihin Nurus Shalihin Apria Putra |
| author_facet | Muhammad Sholihin Nurus Shalihin Apria Putra |
| author_sort | Muhammad Sholihin |
| collection | DOAJ |
| description | Purpose – The article examines Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of paper money, which in the early 20th century wrote Risala Raf'u Al-Iltibas. Design/methodology/approach – This paper uses a qualitative approach based on the critical extraction analysis that can reveal a set of concepts related to the thoughts of Sheikh Ahmad Khatib Al-Minangkabauwi on paper money. Findings – Through an attentive reading of Sheikh Ahmad Khatib Al-Minangkabawi, the authors can formulate several significant results: First, Ahmad Khatib Al-Minangkabawi applies two methods in studying critically on paper money, namely, the comparative law method and qiyas. Second, Ahmad Khatib believes that paper money has similarities with dinars and dirhams, namely its nominal value function. It is just that the existence of these values is different. Briefly, there are set law consequences for those who used paper money in economic activities, i.e. payment of zakāt on paper money applies when used as business capital. Research limitations/implications – Sheikh Ahmad Khatib Al-Minangkabawi's work related to paper money is written heavily from the perspective of fiqh. Briefly, it is challenging to describe legal reasoning from work. As a result, articles are also thicker with fiqh analysis. Practical implications – Sheikh Ahmad Khatib Al-Minangkabawi's view regarding paper money becomes the foundation for the theory of the value of money in Islam. However, it is rarely disclosed. In this regard, this paper can serve as the foundation of the value for money offered by scholars from Indonesia in the early 20th century. Social implications – Money is not a commodity. Still, it must be positioned as capital to be productive. It finally becomes why trade is compelling and becomes the most practical reason for paying out zakāt. Originality/value – It is not easy finding out articles that attempt to reveal the concept of classical ulemas or clerics from Indonesia relating to paper money. This article manages to identify that, and at the same time, becomes a novelty. |
| first_indexed | 2024-03-13T01:46:04Z |
| format | Article |
| id | doaj.art-d6205ab10136449dbddc4b135e1709db |
| institution | Directory Open Access Journal |
| issn | 1319-1616 2411-3395 |
| language | English |
| last_indexed | 2024-03-13T01:46:04Z |
| publishDate | 2021-09-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | Islamic Economic Studies |
| spelling | doaj.art-d6205ab10136449dbddc4b135e1709db2023-07-03T08:22:58ZengEmerald PublishingIslamic Economic Studies1319-16162411-33952021-09-01291678310.1108/IES-10-2020-0043Paper money in Sheikh Ahmad Khatib Al-Minangkabawi's thought: a comparative and critical commentaryMuhammad Sholihin0Nurus Shalihin1Apria Putra2Department of Islamic Economics, Institut Agama Islam Negeri (IAIN) Curup, Rejang Lebong, IndonesiaDepartment of Religious Studies, Faculty of Ushuluddin and Religious Studies, UIN Imam Bonjol Padang, Padang, IndonesiaInstitut Agama Islam Negeri (IAIN) Bukit Tinggi, Bukit Tinggi, IndonesiaPurpose – The article examines Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of paper money, which in the early 20th century wrote Risala Raf'u Al-Iltibas. Design/methodology/approach – This paper uses a qualitative approach based on the critical extraction analysis that can reveal a set of concepts related to the thoughts of Sheikh Ahmad Khatib Al-Minangkabauwi on paper money. Findings – Through an attentive reading of Sheikh Ahmad Khatib Al-Minangkabawi, the authors can formulate several significant results: First, Ahmad Khatib Al-Minangkabawi applies two methods in studying critically on paper money, namely, the comparative law method and qiyas. Second, Ahmad Khatib believes that paper money has similarities with dinars and dirhams, namely its nominal value function. It is just that the existence of these values is different. Briefly, there are set law consequences for those who used paper money in economic activities, i.e. payment of zakāt on paper money applies when used as business capital. Research limitations/implications – Sheikh Ahmad Khatib Al-Minangkabawi's work related to paper money is written heavily from the perspective of fiqh. Briefly, it is challenging to describe legal reasoning from work. As a result, articles are also thicker with fiqh analysis. Practical implications – Sheikh Ahmad Khatib Al-Minangkabawi's view regarding paper money becomes the foundation for the theory of the value of money in Islam. However, it is rarely disclosed. In this regard, this paper can serve as the foundation of the value for money offered by scholars from Indonesia in the early 20th century. Social implications – Money is not a commodity. Still, it must be positioned as capital to be productive. It finally becomes why trade is compelling and becomes the most practical reason for paying out zakāt. Originality/value – It is not easy finding out articles that attempt to reveal the concept of classical ulemas or clerics from Indonesia relating to paper money. This article manages to identify that, and at the same time, becomes a novelty.https://www.emerald.com/insight/content/doi/10.1108/IES-10-2020-0043/full/pdfPaper moneyComparative lawQiyāsMoney philosophyFiat moneyNominal value |
| spellingShingle | Muhammad Sholihin Nurus Shalihin Apria Putra Paper money in Sheikh Ahmad Khatib Al-Minangkabawi's thought: a comparative and critical commentary Islamic Economic Studies Paper money Comparative law Qiyās Money philosophy Fiat money Nominal value |
| title | Paper money in Sheikh Ahmad Khatib Al-Minangkabawi's thought: a comparative and critical commentary |
| title_full | Paper money in Sheikh Ahmad Khatib Al-Minangkabawi's thought: a comparative and critical commentary |
| title_fullStr | Paper money in Sheikh Ahmad Khatib Al-Minangkabawi's thought: a comparative and critical commentary |
| title_full_unstemmed | Paper money in Sheikh Ahmad Khatib Al-Minangkabawi's thought: a comparative and critical commentary |
| title_short | Paper money in Sheikh Ahmad Khatib Al-Minangkabawi's thought: a comparative and critical commentary |
| title_sort | paper money in sheikh ahmad khatib al minangkabawi s thought a comparative and critical commentary |
| topic | Paper money Comparative law Qiyās Money philosophy Fiat money Nominal value |
| url | https://www.emerald.com/insight/content/doi/10.1108/IES-10-2020-0043/full/pdf |
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