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Paper Faces: Currencies, Users, and Usury
Abstract
Paper Faces: Currencies, Users, and Usury Mesa 2009 This study examines currency as a key nexus between economy and culture in contemporary Arab and Islamic contexts. It will also consider the issue of usury/interest in religious and economic terms, with a focus on Shari`a-based, interest-free banking. What do the two faces of the currency tell us about relationships between the state, economic institutions, religion, cultural landmarks, and local and global users of the currency? I will focus on contemporary paper currency in Arab countries, with some attention to coinage. Whether it is a poet or a prince, the images, along with symbols, languages, denominations, usage patterns and distribution, provide crucial insights into a culture’s inner workings and outward interactions. Under whose auspices is the currency issued, and what personal and institutional names appear? While a currency constitutes a concrete demonstration of a state’s authority, it also represents a populace’s self-identification. What personages and images tell the country’s story? How far back do they reach into history and how closely do they approach contemporary developments? Do they include art, architecture, flora, fauna, proverbs, or texts? Are these unique to the issuing country or are they shared with others? Considering the notion that some interpretations of Islam frown on human images, how much of the human head and figure do the bills depict? Are the garments traditional or modern? How do age and gender fit in? Many currencies in Arab countries include English on one face of the bill: Which pictures and symbols appear on the English side? Does the use of English tend to propel users into a more global sphere, or is it a reflection of the general view of their nation’s place in the larger economic scheme? I will briefly contextualize the historic development of attitudes regarding usury, and current trends toward Islamic interest-free banking. Do the currency’s images and text give clues about the Qur’anic ban on usury/riba? “God has permitted trading and made usury unlawful,” Qur’an 2:275-278, and related texts in 3:130, 4:161, 30:39. This paper seeks cultural perspectives on paper money, its representation of different levels of identity, and users’ relationships to these identifications. The individual, the market, the nation, and religion stamp various impressions on contemporary currencies. My study draws upon published works in English and Arabic on currencies, usury, and legal thought, in addition to interviews with users at various places on the economic spectrum. Computer projection for powerpoint, please.
Discipline
Language
Geographic Area
Arab States
Sub Area
Identity/Representation