There are differences between Islamic and Western legal systems. For example, Sharia classically recognizes only natural persons, and never developed the concept of a legal person, or corporation, i.e., a legal entity that limits the liabilities of its managers, shareholders, and employees; exists beyond the lifetimes of its founders; and that can own assets, sign contracts, and appear in court through representatives. Interest prohibitions imposed secondary costs by discouraging record keeping and delaying the introduction of modern accounting. Such factors, according to Timur Kuran, have played a significant role in retarding economic development in the Middle East.