Counter-concept of Time Value of Money
Islamic economic principles which have come from both the legal sources of the Koran, Hadith and Muslim scholars thought. These fundamental values underlying the Muslim economists view the birth of thought, including reviewing the functions of money in economic life. In their opinion, the functions of money there are only two, namely: 1. as a measure of prices, and 2. means of payment. The function of money as a store of value is not recognized because it was considered something close to usury. The function of money is prohibited from actually gave birth to the theory that time value of money. Corollary, Muslim economists do not agree with this concept.
Islamic economic principles which have come from both the legal sources of the Koran, Hadith and Muslim scholars thought. These fundamental values underlying the Muslim economists view the birth of thought, including reviewing the functions of money in economic life. In their opinion, the functions of money there are only two, namely: 1. as a measure of prices, and 2. means of payment. The function of money as a store of value is not recognized because it was considered something close to usury. The function of money is prohibited from actually gave birth to the theory that time value of money. Corollary, Muslim economists do not agree with this concept.
