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Let me begin soon after the beginning of economics: with money. Money is a concept whose centrality to Economics, especially to conventional Economics, is hard to overestimate: Money is the main means by which economists tend to appeal more easily to an alleged scientificity for their discipline, because it so easily lets them ‘Go forth and quantify’.

The article examines Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of paper money, which in the early 20th century wrote Risala Raf'u Al-Iltibas.

This paper uses a qualitative approach based on the critical extraction analysis that can reveal a set of concepts related to the thoughts of Sheikh Ahmad Khatib Al-Minangkabauwi on paper money.

Through an attentive reading of Sheikh Ahmad Khatib Al-Minangkabawi, the authors can formulate several significant results: First, Ahmad Khatib Al-Minangkabawi applies two methods in studying critically on paper money, namely, the comparative law method and qiyas. Second, Ahmad Khatib believes that paper money has similarities with dinars and dirhams, namely its nominal value function. It is just that the existence of these values is different. Briefly, there are set law consequences for those who used paper money in economic activities, i.e. payment of zakāt on paper money applies when used as business capital.

Sheikh Ahmad Khatib Al-Minangkabawi's work related to paper money is written heavily from the perspective of fiqh. Briefly, it is challenging to describe legal reasoning from work. As a result, articles are also thicker with fiqh analysis.

Sheikh Ahmad Khatib Al-Minangkabawi's view regarding paper money becomes the foundation for the theory of the value of money in Islam. However, it is rarely disclosed. In this regard, this paper can serve as the foundation of the value for money offered by scholars from Indonesia in the early 20th century.

Money is not a commodity. Still, it must be positioned as capital to be productive. It finally becomes why trade is compelling and becomes the most practical reason for paying out zakāt.

It is not easy finding out articles that attempt to reveal the concept of classical ulemas or clerics from Indonesia relating to paper money. This article manages to identify that, and at the same time, becomes a novelty.

The purpose of this paper is to examine how the influence of Western Christian fundamentalist religious ideology has influenced the core thinking behind anti‐money laundering (AML) control, and how this polarized set of values makes it more difficult for Asian bankers to understand and empathise with a moral philosophy which does not necessarily come within their own social or cultural experience.

The paper is based upon both empirical research undertaken during travels in South East Asia (SE Asia), and from anecdotal evidence provided by practitioners in the region.

It was discovered that the long‐term implications of US attitudes towards AML control had an effect of putting SE Asian financial institutions at a financial disadvantage when they came to deal with US regulatory demands, and that the question thereby raised was whether the US underpinning philosophies had more to do with financial self‐interest, than any real attempt to harness a moral philosophy.

Greater time and effort will have to be found to create a level‐playing‐field in international standards of AML definition, in order to satisfactorily include the moral precepts of SE Asian practitioners.

The paper seeks to stimulate genuine debate and discussion, and to avoid the retreat into a vague acceptance of un‐proven hypotheses.

Georg Simmel reached the conclusion that evolution drives money towards an ever‐higher level of functionality while, at the same time reducing its importance as a substance. This article confronts Simmel’s one hundred‐year‐old hypothesis with the changes money has undergone since the publication of his book, The Philosophy of Money, since the 1970s. We begin by presenting the main conclusions of Simmel’s inquiry into the essence of money. We focus on his findings concerning the unstable relationship between the substance and functions of money and on the notion of money as a social institution. The second part of the article relates Simmel’s analysis to various aspects of contemporary thinking on money, and presents the “double anchor” hypothesis on the monetary order. Then, this hypothesis is used to analyse how technology‐driven processes are causing specific monetary functions to become increasingly autonomous. What this implies, in turn, is the de facto break‐up of money. For the time being, this situation has not actually arisen, but the stage‐by‐stage break‐up of money is well under way, at various speeds, and taking advantage of any available technical opportunities, especially in the field of information technology. The expected total break‐up of money poses compelling problems that call for new conceptual, technical and institutional solutions.

The second part of a series that aims to provide an alternative viewpoint about the issues surrounding money laundering.

The paper combines narrative with argument and analysis to look closely at how the present state of the money laundering laws which are currently in force have arisen, to a greater or lesser extent, throughout the world.

No real understanding of this phenomenon can be achieved without understanding the political conflicts which are identified by the US approach to world affairs, and the part that the US currency plays in them, because it is as much the influence of the ex‐patriot US dollar which plays such a significant part in the world of funny money control, as any other aspect.

This comparative study enables readers to see more clearly the intentions behind the thinking (or lack of it) of those who have implemented the legislative changes, as well as their geo‐political ambitions.

The purpose of this paper is to describe philosophical positions about money laundering activities, depending on the way one looks at ethics and law.

The paper analyzes four philosophical positions about money laundering activities, given that one accepts/refuses to make connections between ethics and law. It explores the pitfalls of each philosophical position.

The sceptical way (ethical relativism) asserts that there cannot be any intrinsic notion of good/evil. The legally focused way (legal positivism) presupposes that ethics is irrelevant, when lawmakers are doing their job. The distorting way (legal moralism) takes for granted that lawmakers are deciding what is moral/immoral. The ethically focused way (normative ethics) means that ethics say something different than law. Each of the four philosophical positions about money laundering has its own pitfalls.

The four philosophical positions could influence the way ethical concerns are institutionalized in the organizational setting. Managers could better distinguish ethical discourse and legal/judicial realm. Ethical training sessions could be used to make organizational members circumscribing their moral duties, as to the detection/prevention of money laundering activities. Qualitative surveys could help to better understand if such philosophical positions are relevant for decision-making processes and philosophical questioning about ethical issues.

The paper addresses the issue of money laundering, from both a legal and moral perspectives. It is at the edge of ethics and philosophy of law.

Following Braudel’s conceptualization of capitalism and Arrighi’s periodization of systemic cycles of accumulation, the authors focus on the patterns of recurrence of financial expansions enabling capitalism to revitalize itself through crisis; in this, crisis is considered in both aspects ‐ crisis‐as‐restructuring and crisis‐as‐rupture. The ways in whichfinance aided by the blocks of governmental and business agencies in the present stage affects investment and business cycles result in a progressive increase of inequality between rich and poor countries, as well as inequality within the most developed countries. The authors tackle the crisis phenomenon through a genealogical analysis of the formation, consolidation and disintegration of the successive regimes of accumulation on a world scale through which the capital economy expands. They furthermore examine the crisis of capitalist accumulation through the relation of money and the state, which leads them to the field of debates on the changed relationship between the global economy and the national state. However, the crisis is also marked by a milestone which, despite dangers and pitfalls, opens up endless possibilities. They end the paper with a critique of the politics of money and advocate a socially responsible finance management, which will pave the way for a structure of society in which humanity will exist as an end in itself, rather than as a resource for the accumulation of money.

Money laundering is indeed a global phenomenon which undermines the economic and political stabilities of States. However, as much as money laundering is a global phenomenon, over the last decade, it has been apparent that development countries have been more exposed and vulnerable to its exploits. Thus, the purpose of this paper is to evaluate, specifically, the impact of money laundering on economic development, financial stability and also political development of “developing countries”. Hence, the aim and purpose of the paper is to deeply analyse the immense scale, concise effect and impact of the phenomenon of money laundering that hinders economic and political growth in developing countries in contrast to the developed countries. The paper also intends to examine the above issues in the context of Nigeria as a developing country.

In developing this paper, emphasis was placed on primary sources of information and references to secondary sources of information where relevant. Therefore, the methodology employed in this paper is analytical and based on the facts reflected in the secondary sources and also legal and socio‐economic analyses of money laundering phenomenon.

The phenomenon of money laundering, amongst other economic and financial crimes have had better success in infiltrating into the economic and political structures of most developing countries therefore resulting to economic digression and political instability. Although, developing countries have responded and continue to respond, through legislative measures, to the menace of money laundering, at national level, however, money launderers, have exploited the lax regulatory environment, vulnerable financial systems along with persistence civil and political unrest of most the developing countries. The findings of the paper also highlight the relationship between corruption and money laundering in developing countries.

The paper is very unique in its approach as it combines legal analyses with social philosophy or combating money laundering and from a perspective of law of development both at the national and international levels, it focuses on the negative impacts of money laundering on the development of developing countries such as Nigeria.

Frugal innovation is a term that has been used to describe the low-cost products and services, as well as the systems and processes adopted by organizations to develop them. The purpose of this paper is to examine the experience of multi-national companies (MNCs) in India as they adopt the philosophy of frugal innovation to develop products that are high in technology but low in terms of cost to meet the requirements of the market conditions in India, and similar low-income economies.

The case study methodology was adopted to understand the experiences of the Indian subsidiaries of two MNCs, Bosch India and 3M India. Data were acquired through interviews with key decision makers, documents, and publicly available information.

The two MNCs have increased research and development (R&D) in India and adopted the philosophy of frugal innovation which combines high technology with low costs. Based on the analysis, some propositions are presented indicating that MNCs will shift R&D to India if there are market opportunities; they will adopt the philosophy of frugal innovation to produce high technology products that are lost cost and low cost over product lifetime and will also expand to new-to-the-world innovation and finally contribute to global innovation.

The study is based on only two case studies and a large sample study may be required before the findings can be generalized.

Other MNCs can learn from Bosch India and 3M India in terms of adopting frugal innovation practices to be successful in low-income economies.

The field of frugal innovation is quite new and largely based on anecdotal accounts of successful low-cost innovation. This paper provides a more detailed account of the experiences of two well-known organizations to present propositions that may be used to conduct a large sample study.