Book Review

The Islamic Currency


Abdullah’s book is dedicated to solving the major problems and questions about monetary theory. The title of the book is derived from Ibn Khaldun’s student, Al-Maqrizi, who wrote the book, ‘The Islamic Currency’ in 1415 as an objection to fiat money formed from copper (Abdullah, 2016, p. 33). The book consists of 7 chapters and contains 477 pages of which almost 200 are appendices. There is no doubt that he employs vast historical data and presents them in form of valuable charts and figures. His main argument is that the worst monetary system in the history is the modern fiat standard. It is not preserving the public interest and is fundamentally harmful to an economy (Abdullah, 2016, p.35).