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E-book A Treatise on Christian Banking

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Penilaian

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Economic activities for individuals and societies need to be financed, whether they are business projects and enterprises, or expenditures of a private nature, such as purchasing a home or paying for education. Financing human activity can be conducted in two principally different ways: by using equity belonging to the initiator, or by receiving loans, credit or equity from a third party. At a basic level, it may be assumed that there is a defined line between moneylending and equity financing, but these methods may also coexist in an equity–loan mix. When both are in use, it could be of interest to examine the sustainable and moral degree of loan as seen against the applied loan to equity ratio. This is a question that has different solutions under different moral, legal and religious paradigms.In this treatise, both third-party financing and equity financing (investments) are covered contrary to expectations of some of the readers. For readers from outside the world of finance, the use of the term ‘banking’ will give rise to connotations of third-party financing more than investments, whereas among seasoned banking professionals, banking and equity investments are typically perceived as two sides of the same coin. As seen from the side of the one in need of financing, equity may be the preferred mode of financing a said activity, but in lacking sufficient equity, or perhaps in search of alleviating risk, third-party financing may be preferred, in whole or as part of their financing mix. This is the case even when the financier is required to get an activity started, as the choice to initiate has to be taken by the borrower. However, from the lender’s perspective, usage of the lent equity remains a concern, and as explained in this treatise, the two main forms of financing will be equal when seen from a moral perspective. Views on financing and interest vary among different cultural and religious affiliations and are subject to rules and regulations that vary in strictness and often involve limits protecting the debtor against the power of the creditor. From historical sources for India and China in the medieval era for example, it appears that there were governmental concerns to protect the (perceived) weaker debtor against the creditor, and that rules were introduced stating maximum interest rates as well as the principle that interest could not exceed the principal (Graeber 2012). From sources within Christendom, we know of similar impulses for regulating credit, ranging from the Old Testament (NIV 2011) law of debt cancellation every 7 years (Dt 15:1–3), and the release of those held in debt bondage every 49 years (Lv 25:39), to Calvin’s moderate scepticism of letting capitalism exist unchecked (Graafland 2009).Interestingly, within the Islamic world, the matter of debt, interest and capital hoarding has been subjected to closer scrutiny when compared to the predominantly Christian West. Within Islam, a tradition of banking based on Islamic moral rules has been developed, and a paradigm of capital use has evolved covering most aspects of third-party financing and the application of capital. This financial model is often referred to as sharia banking or Islamic banking, and was developed in the 1970s (Abdul-Rahman 2010; Jamaldeen 2012).

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Ketersediaan

Informasi Detail

Judul Seri

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No. Panggil

248 BOS a

Penerbit

South Africa : AOSIS Publishing., 320 hlm

Deskripsi Fisik

320 hlm

Bahasa

English

ISBN/ISSN

9781776341573

Klasifikasi

248

Tipe Isi

text

Tipe Media

computer

Tipe Pembawa

online resource

Edisi

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Subjek

Christian Experience, Practice, Life

Info Detail Spesifik

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Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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