The paper critically examines the proposal to create a Trade Referenced Currency (TRC) at the global level that can be potentially used as a common unit of account and internationally accepted means of payment. To put the proposal in a historical perspective the paper analyzes various monetary...

Al-qawāʿid al-fiqhīyah or legal maxims of Islamic Law are the general rules of fiqh that portray the goals and objectives of the Sharīʿah. They are applied in various cases that come under the common rulings and play a very important role in deducing many rules of fiqh since they provide a...