فصلنامه اقتصاد اسلامی
پیاپی 23 (پاییز 1385)

More than 23 years of experience in the execution of the laws concerning banking operations without usury based on the present model indicates that the practice has, of course, had its moments of success, while at the same time it has shown to have its own shortcomings some of which are as follows:Training bank clerks becomes complicated, time-consuming and costly due to the excessive banking contracts.Insufficient training of bank clerks leads to inappropriate choices regarding the drawing up of contracts and also to the clerks’ failing to make the clients understand the nature and conditions of the contracts and this, results in the formality and thus the annulment of many contracts.Some of these contracts do not conform to banking activities, and therefore the correct implementation of such contracts is not possible.Some of these contracts need continuous control and supervision, while not all banks have sufficient tools and human resources for the implementation of such control and supervision.The correct execution of some contracts is coupled with heavy operational costs and is therefore not financially viable for all banks.Some contracts are not appropriated to the clients’ tastes and aims, and as a result. the clients have little inclination in carrying out the procedures of the contracts correctly.For the resolution of such difficulties, another model has been designed which is referred to as “the New Model of Banking without Usury”. The basis of this model includes the clients’ tastes, aims and expectations on the one hand, and the qualitative difference of Islamic contracts on the other.The new banking model divides banks into three groups: commercial banks with a fixed rate of interest based on exchange contracts, specialized banks with a variable rate of interest based on joint contracts, and general public banks with a special composition of exchange and joint contracts. The new model appropriates these divisions in such a way as to answer the expectations of all bank clients according to their aims and tastes, through the drawing up of agreements in accordance with Islam. After having taken a brief look at various models of banking without usury, regarding the supply of equipments and allocation of resources, the article assesses the present model of banking without usury in order to study and clarify its religious and legal foundations.

The founding of any science like other phenomena is in need of preliminary requisites. One of the necessary preconditions for this is the idea and the approbation of scientists and intellectuals about the possibility, necessity and the status of that science. Because it is only in this way that their intellectual capacities for the formation of new concepts and copiling of them in the form of a new science will become readier. Enquiry into the possibility of the science of Islamic economics, is too one of the debates that has occupied the minds of scientists and intellectuals, and Islamic economists in particular. This article, by adopting a logical method, is trying to research the structural theoretical basis which may enable us to have a clear judgment about this dilemma. The study of what has gone before in a comparative way is a comparison having taken place with classic economics, so that this experiment will act as a specimen towards the verifiability of this structure.The conformity of the structure of the prefaces with has been for this porpose a few, subject's accordance with the limited opportunity the article allows.

The aim of this article is to study about one possibility:Had there been the possibility of formation of economic science (which had concern to recognition of economic reality), in Islamic noble civilization.If the answer is positive, then, which facilities (i.e. epistemology's background and methodological tools which such science is originated from their heart) have mad possible the realization of this possibility? And if the answer is negative then what were the obstacles (epistemological or non epistemological).Undoubtedly, this possibility has had a strong relation with the kind of Moslems view to economic phenomena and above it, with the kind of their view to the world and human being. History give us a suitable background for studying the mentioned possibility.As it is clear from the topic of the article and last sentences, the stand taken in This article is only referred to past tense and is mute about current time and future.

Despite the importance and the status of goals in any economic system, the literature applied to the Islamic economic research into the goals of such an economic system tends to be inappropriate and lacking in scientific logic. Some researchers have not differentiated between the aims of an Islamic economic system and other economic systems, while others see political and cultural affairs counting as the goals of an Islamic economic system. Some others consider welfare as the goal of an Islamic economic system. In any event, it can be claimed that an Islamic economic system, in so far as its aims are concerned, is in a state of ambiguity. To clear the doubts and uncertainties, calls for adopting a logical method in the designation of the ends and aims. In this paper, primarily the status of the social system has been determined with the economic system being introduced as one of its subsystems. We have also stated that the aims of such an economic system vary from the aims of other subsystems, and that the belief basis of an economic system plays a key role in the designation of its goals. Based on the fundaments of Islamic belief, all individuals and the economic system as a whole, needs the perpetual guidance of God almighty through both the innate disposition and guidance of the prophets. God has created human beings with wisdom and the power of reason, and by sending His prophets and Holy Books, He has presented the most desirable Islamic economic behaviors, policies and strategies. Therefore, in determining the goals of an Islamic economic system, we can benefit from wisdom and tradition (Koranic verses and what has been narrated from the life of the prophet by his followers as setting an example for a desirable Islamic behavior). By turning to what we learn from revelation through the Holy Koran, tradition and wisdom, three levels of goals for the Islamic economic system can be discovered. Public welfare is seen as the ultimate goal of an Islamic economic system while justice, security and economic growth have been identified as intermediate goals, and affairs such as creating employment opportunities, stabilizing the general price level, balance in levels of payments (balance of payments) are the primary goals. The realization of goals at one level creates the precedence for the realization of goals at a higher level. By the same token, if there should be a conflict in aims at one level with the aims of a higher level, the latter has precedence. In case there should be a crossing of paths between goals at the same level, then those goals which are more important should have precedence over the simply important goals.

We have tried in this paper to extract the theory of “religious knowledge demand” in the framework of economics but with an Islamic approach. Its empirical examination entails another opportunity. To include a broader scope, the term “knowledge” has been used instead of “science” because it often used in empirical sciences.Explaining capital and consumer nature of “religious knowledge” based on new institutionalism methodology, the demand function of religious knowledge is extracted finally. The author regarding his research proposal is bound to launch an empirical study based on this theoretical framework after its accomplishment. Need not to say that the commentaries and complementary notes on this paper, which have been an object of its publication, will be highly appreciated.