The Evolutionary stages of money and the Effects of the Islamic sharia Infunctions on it.

(An Islamic Jurisprudence and Historical Review)

  • Bakht Shaid Federal Urdu University Karachi
Keywords: Currency, Sharia, Jurisprudence, Quraan, Sunnah

Abstract

Money has been acquiring the primordial position throughout the periods of human history as every matter and dealing of give and take and sale and purchase have been based on money here money means every barter instrument that has been in use and practice it may have been in any shape and form people have been using different shapes and forms of money for there give and take since the primitive time till now. It has been changing its shapes and forms in different time had been gold and silver coins in use for a long time. So, the gold and silver coins there remained in use and practice in the era of the holy prophet. This use remained in practice for centuries later on the paper money was introduced in use and practice. In those time there used to be hundred (100%) percent gold used on the back of the paper note (Currency) This practice of gold with the currency in paper form money rendered it to a receipt. However, with the passage of time the conditions and positions kept on changing and the ratio of gold in the used had been reduced on the note (Currency) up till the paper money acquired its permanents position and value as the currency of the day. This gave the paper money the position and value of a legal tender and customer price. In the present time the use of digital money is in increasing, many countries, around the world, are increasing introducing the use of digital currency. The digital currency has been in use and practice in many countries of the world. The most famous is the butt queen which is saved in computer or in any other device and its prepared without the involvement of the government.

In view the research article brings out in light the Evolutionary history of money during the its evolutionary stages and review of the infunction of the Sharia and Islamic Jurisprudence taking the effects. 

Published
2020-07-10
How to Cite
Shaid, B. (2020). The Evolutionary stages of money and the Effects of the Islamic sharia Infunctions on it. The Islamic Culture "As-Saqafat-Ul Islamia" الثقافة الإسلامية - Research Journal - Sheikh Zayed Islamic Centre, University of Karachi, 43(43). Retrieved from http://theislamicculture.com/index.php/tis/article/view/653