-Modigliani Theorem, which is of direct relevance to Islamic banks which are prohibited to charge interest and often

interest The concept of time value Utility theory, risk aversion and risk premium The individual's optimal

expansion of interest-bearing debt and monetary expansion though the fractional reserve banking system. In

Islamic Finance: Absolute Prohibition against Interest Rates 69 Ethical Foundations of Islamic Finance 76

. Along with an expanded section on the history of the ban on interest, this second edition contains a