Includes bibliographical references (p. 351-367) and index.

1. An Evaluation of Money: A New Perspective -- Commodity Money -- Metallic Money -- Dinar and Dirham (D-D) -- What is (Paper) Money? -- An Impure Public Good -- Quantity Theory of Money and a Country's Balance Sheet -- Functions of Money in an Islamic Setting -- The General Theory as Monetary Theory -- Cooperation in Islam -- A Just Voting System -- Islamic Foundation of Norms for Cooperation -- Equivalence between Functions of and Demand for Money -- 2. Interest on Money and Its Scope -- A Brief History of Interest -- The Place of Interest in Capitalist Economics -- The Place of Labor -- Western Justifications for Interest -- Time Preference and its Relation to the Rate of Interest -- Is Time Preference Positive in all Circumstances? -- Some Further Thoughts on Interest -- Exchange Cost, Seigniorage and Inflation -- The Socially Optimal Provision of Money in the Capitalist System -- Interest (Riba) in Islam -- 3. A legal Perspective on Islamic Finance -- Capital Theory: A Brief Recapitulation -- The Legalities of Money and Capital -- Money and Capital Reconsidered -- Supply of Money Unidentified -- Extended Model -- Implications of the Model -- 4. Interest: Fact and Fiction -- The Place of Man in the Economic System -- The Evils of Interest -- 5. Islamic Banking versus Conventional Banking -- The Structure and Functions of Banking -- Underlying Conditions For Success in Islamic Finance -- The Philosophical Foundations of the Place and the Ultimate Goal of Man -- Islamic Modes of Finance -- Islamic Bank Structure -- Islamic Contracts -- New Products -- 6. The Role of Conventional and Islamic Banks in Investment: Certainty and Risk Conditions -- Introduction -- Investment in a Capitalist Economy -- Investment Expenditure: A Function of Interest Rate? -- Investment in an Islamic Economy -- Portfolio Management for Households -- 7. The Role of Central Banks in Islamic Banking -- Revising Roles: Learning from Experience -- Revisions (Beyond Amendments) -- The Role of the Central Bank in Islamic Banking -- Assertions -- Classification of Islamic Modes of Contract -- Application of IRR and Zero Cost of Capital -- The Transmission Mechanism for Creating Money.