"Interest and the Modern Economy," The Lahore Journal of Economics, Vol 6, No.1, p113-127, Jan-June 2001 also published in Islamic Economic Studies Vol. 8, No. 2, Muharram 1422H (April 2000) p 61-74
"All that we had borrowed up to 1985 or 1986 was around $5
billion and we have paid about $16 billion yet we are still being
told that we owe about $28 billion. That $28 billion came about
because of the injustice in the foreign creditors' interest rates. If
you ask me what is the worst thing in the world, I will say it is
compound interest."
President Obasanjo of Nigeria, G8 summit, Okinawa, 2000
SSRN Download Link: http://ssrn.com/abstract=1335668
"Interest and the Modern Economy," The Lahore Journal of Economics, Vol 6, No.1, p113-127, Jan-June 2001
"Interest and the Modern Economy" Islamic Economic Studies Vol. 8, No. 2, Muharram 1422H (April 2000) p 61-74
Talks based on this paper were delivered at the State Bank in Iran and also in Indonesia
ABSTRACT
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