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© 2017

Ethical Dimensions of Islamic Finance

Theory and Practice

Book

Table of contents

  1. Front Matter
    Pages i-xv
  2. Zamir Iqbal, Abbas Mirakhor
    Pages 1-24
  3. Zamir Iqbal, Abbas Mirakhor
    Pages 25-59
  4. Zamir Iqbal, Abbas Mirakhor
    Pages 61-80
  5. Zamir Iqbal, Abbas Mirakhor
    Pages 81-102
  6. Zamir Iqbal, Abbas Mirakhor
    Pages 103-134
  7. Zamir Iqbal, Abbas Mirakhor
    Pages 135-162
  8. Zamir Iqbal, Abbas Mirakhor
    Pages 163-187
  9. Back Matter
    Pages 189-192

About this book

Introduction

This book provides an introductory theoretical foundation of the ethics embedded in Islamic economics and finance, and it shows how this ethical framework could pave the way to economic and social justice. It demonstrates how Islamic finance—a risk-sharing and asset-backed finance—has embedded universal values, ethical rules, and virtues, and how these qualities may be applied to a supposedly value-neutral social science to influence policy-making. This book argues that ethical and responsible finance, such as Islamic finance, could lead the efforts to achieve sustainable economic development. Iqbal and Mirakhor then conduct a comparative analysis of Islamic and conventional financial systems and present Islamic finance as an alternative that can address today’s growing problems of inequality, social injustice, financial repression, unethical leadership, and lack of opportunity to share prosperity.

Keywords

Muslim unethical practices accountability wealth and income inequality virtue ethics golden rule risk-sharing justice stakeholders financial repression micro-lending economic development

Authors and affiliations

  1. 1.Islamic Development BankJeddahSaudi Arabia
  2. 2.INCEIFKuala LumpurMalaysia

About the authors

Zamir Iqbal is VP Finance and CFO of the Islamic Development Bank. Prior to this role, he served as head of the World Bank's Global Islamic Finance Development Center in Turkey. He is a coauthor of Challenges in Economic and Financial Policy Formulation (2014) and a coeditor of the Palgrave Studies in Islamic Banking, Finance, and Economics series.

Abbas Mirakhor is the First Holder of Islamic Finance Chair at INCEIF - The Global University of Islamic Finance, Malaysia. He is a coauthor of Challenges in Economic and Financial Policy Formulation (2014), Introduction to Islamic Economics (2015), and Intermediate Islamic Finance

Bibliographic information

  • Book Title Ethical Dimensions of Islamic Finance
  • Book Subtitle Theory and Practice
  • Authors Zamir Iqbal
    Abbas Mirakhor
  • Series Title Palgrave Studies in Islamic Banking, Finance, and Economics
  • Series Abbreviated Title Palgrave Studies in Islamic Banking, Finance, and Economics
  • DOI https://doi.org/10.1007/978-3-319-66390-6
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2017
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance Economics and Finance (R0)
  • Hardcover ISBN 978-3-319-66389-0
  • Softcover ISBN 978-3-319-88233-8
  • eBook ISBN 978-3-319-66390-6
  • Edition Number 1
  • Number of Pages XV, 192
  • Number of Illustrations 0 b/w illustrations, 3 illustrations in colour
  • Topics Banking
    Macroeconomics/Monetary Economics//Financial Economics
    Microeconomics
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking