Ethical Dimensions of Islamic Finance

Theory and Practice

  • Zamir Iqbal
  • Abbas Mirakhor

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

  • Zamir Iqbal
    • 1
  • Abbas Mirakhor
    • 2
  1. 1.Islamic Development BankJeddahSaudi Arabia
  2. 2.INCEIFKuala LumpurMalaysia

Bibliographic information

  • 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
  • Print ISBN 978-3-319-66389-0
  • Online ISBN 978-3-319-66390-6
  • About this book
Industry Sectors
Finance, Business & Banking