Handbook of Ethics of Islamic Economics and Finance

Published by De Gruyter Oldenbourg 2020

Handbook of Ethics of Islamic Economics and Finance

Edited by: Abbas Mirakhor , Zamir Iqbal and Seyed Kazem Sadr

Volume 5 in the series De Gruyter Studies in Islamic Economics, Finance and Business

https://doi.org/10.1515/9783110593419

Overview
Contents

About this book

Since the financial crisis of 2007/2008, a renewed discussion on the ethics and finance is being examined from different dimensions – finance for good society, responsible finance, ethical finance, financial crimes, and financial repression. The principal objective of this Handbook on Ethics of Islamic Economics and Finance is to provide a deeper understanding of the ethical underpinning of Islamic economics and finance.

The reader will notice that the Handbook reflects a diversity of views on the subject of economic and business ethics in Islam across the intellectual spectrum of Muslim thought over the globe. Handbook attempts to find answers to some questions concerning the definition and characteristics of the ethical system in Islam. What is its goal and how do its rules and practices ensure welfare for individuals and society? Are the moral principles universal and invariable or do they change and adapt with the social changes of communities and progress in science and technology? Is the present generation accountable for the welfare of future generations? Where is the boundary between law and ethics and who guarantees their adoption and implementation?

Highlights embedded ethics of key concepts of Islamic economics such as social and economic justice
Significance of ethics within Islamic framework of business, economics, and finance

Author / Editor information

Abbas Mirakhor joined INCEIF in 2010 as Distinguished Scholar and the First Holder of INCEIF's Chair in Islamic Finance. His research interests include conventional and Islamic economics and finance. He is a graduate of the Kansas State University, USA, where he received his Bachelor, Master and PhD Degrees in Economics. In 1968, he started his academic career with University of Alabama, USA. Mirakhor has worked as a professor of economics at the University of Alabama, Alabama A&M University, and the Florida Institute of Technology. In 1984, he joined the IMF in Washington DC as an economist. He spent 24 years with the IMF, serving as the organisation's Executive Director and Dean of the Executive Board, retiring in 2008.

Zamir Iqbal is currently serving as the Vice President, Finance and CFO of the Islamic Development Bank. Prior to joining the Islamic Development Bank, he served as head of the World Bank Global Islamic Finance Development Center in Istanbul. He has more than 25 years of experience of capital markets, asset management, risk management, and financial sector at the World Bank. Islamic finance has been his research focus and he has co-authored several articles and books on Islamic finance on the topics of banking risk, financial inclusion, economic development, financial stability, and risk-sharing. He played an instrumental role in the publication of World Bank and IsDB’s first Global Report on Islamic Finance. He earned his PhD in international finance from the George Washington University and served as Professional faculty at Carey Business School of Johns Hopkins University.

Seyed Kazem Sadr ist Professor at the Shahid Beheshti University in Iran.

Topics

Frontmatter Publicly Available Download PDF	I
Preface Publicly Available Download PDF	V
Introduction Publicly Available Download PDF	VII
Contents Publicly Available Download PDF	XXV
Chapter 1: Ethics of Risk-Sharing Economics and Finance Zamir Iqbal and Abbas Mirakhor Requires Authentication Unlicensed Licensed Download PDF	1
Chapter 2: Ethics in the Light of Maqasid Al-Shari’ah: A Case Study of Islamic Economics and Finance Mohamad Akram Laldin Requires Authentication Unlicensed Licensed Download PDF	21
Chapter 3: The Status of Economic Operations and Business Ethics in the Historical Mindset of Muslim Scholars Mohammad Reza Yousefi Sheikh Robaat Requires Authentication Unlicensed Licensed Download PDF	48
Chapter 4: The Central Role of Spirituality and Ethics in Islamic Economics and Finance Amana Raquib, Junaid Qadir and Bilal S. Channa Requires Authentication Unlicensed Licensed Download PDF	65
Chapter 5: The Role of Spirituality and Morality in the Islamic Model of Economic Education and Training Mohammad Javad Tavakoli Requires Authentication Unlicensed Licensed Download PDF	91
Chapter 6: Sustainable Human Development Ethics: A Quranic Perspective Seif I. Tag el-Din Requires Authentication Unlicensed Licensed Download PDF	115
Chapter 7: Relationship Between Ethics and Economic Development from the Viewpoint of the Qur’an and Hadith Seyyed Reza Hosseini Requires Authentication Unlicensed Licensed Download PDF	132
Chapter 8: The Environmental Crisis in the Islamic World – Pertinence of the Teachings of Traditional Islam Seyyed Hossein Nasr Requires Authentication Unlicensed Licensed Download PDF	156
Chapter 9: Responsibility of Muslims versus Environment Saeed Farahanifard and Mohammad Ali Farahanifard Requires Authentication Unlicensed Licensed Download PDF	166
Chapter 10: Business Ethics Majid Reza’ei Davani Requires Authentication Unlicensed Licensed Download PDF	182
Chapter 11: Ethical Model of Business Ethics: Qur’an’s View Abdul Khaleq Karimi Requires Authentication Unlicensed Licensed Download PDF	200
Chapter 12: Spiritual Excellence (Iḥsān) for Professionals: A Ḥadīth-Based Perspective Junaid Qadir, Amana Raquib and Hafiz Saeed Ahmed Requires Authentication Unlicensed Licensed Download PDF	217
Chapter 13: Human and Role of Ethics in His Interactions in Makarim-ul-Akhlaq Prayer by Ali bin Hussain (PBUH) Majid Habibian Naghibi Requires Authentication Unlicensed Licensed Download PDF	238
Chapter 14: Shaheed Sadr’s Perspective on Property Rights in Islam Mohammad Javad Nourahmadi Requires Authentication Unlicensed Licensed Download PDF	255
Chapter 15: Significance of “Trust” in Capital Formation in Islamic Finance Omar Fisher Requires Authentication Unlicensed Licensed Download PDF	286
Chapter 16: Principle of Human Dignity: The Criteria for Ethical Assessment of Business Relations in Islamic Economy Behrouz Mohammadi Monfared and Mohammad Esma’eil Tavassoli Requires Authentication Unlicensed Licensed Download PDF	302
Chapter 17: Domains of Probity (“Sidaqat”) in Islamic Markets Seyyed Mohammad Kazem Raja’ee and Mostafa Kazemi Najafabadi Requires Authentication Unlicensed Licensed Download PDF	320
Chapter 18: An Index of Islamic Market Probity (“Sidaqat”) Seyyed Mohammad Kazem and Mostafa Kazemi Najafabadi Requires Authentication Unlicensed Licensed Download PDF	335
Chapter 19: Fair Wages in Islam Abulfazl Pasebani Some’eh Requires Authentication Unlicensed Licensed Download PDF	359
Chapter 20: Ethics and the Acknowledged Right of the Destitute in the Qur’an and Hadith Mojtaba Baqeri Tudeshki Requires Authentication Unlicensed Licensed Download PDF	387
Chapter 21: Influence of Piety (Taqwa) on Ethical Decision-makings in Business: Integration of Religious and Scientific Views Hassan Abedi Jafari, Pooya Pirmaleki and Mostafa Kazemi Najafabadi Requires Authentication Unlicensed Licensed Download PDF	410
Chapter 22: The Role of Religious and Ethical Teachings in Designing Social Welfare Function Seyyed Ziaoddin Kia al-Hosseini Requires Authentication Unlicensed Licensed Download PDF	439
Chapter 23: Towards an Integrative Framework for Understanding Producer Behaviour in Islamic Economics Framework Salman Ahmed Shaikh Requires Authentication Unlicensed Licensed Download PDF	460
Chapter 24: The Ethics of Consumption in Islam Morteza Ezzati Requires Authentication Unlicensed Licensed Download PDF	472
Chapter 25: A Glance at the Ethical Dimensions of Money in Islamic Economic System Mohammad Esma’eil Tavassoli and Behrouz Mohammadi Monfared Requires Authentication Unlicensed Licensed Download PDF	501
Chapter 26: Hoarding of Goods, Money and Financial Assets Seyed Kazem Sadr Requires Authentication Unlicensed Licensed Download PDF	526
Chapter 27: Ethics and Economy of Islamic Government Majid Reza’ei Davani Requires Authentication Unlicensed Licensed Download PDF	544
Chapter 28: Principles of Defining Public Domain in Islam in Contrast to Neoclassical and Communitarian Viewpoints Ali Reza Lashkari Requires Authentication Unlicensed Licensed Download PDF	573
List of Figures Requires Authentication Unlicensed Licensed Download PDF	597
List of Tables Requires Authentication Unlicensed Licensed Download PDF	599
Contributing Authors’ Short Bios Requires Authentication Unlicensed Licensed Download PDF	601
Index Requires Authentication Unlicensed Licensed Download PDF	607

(Deutsch)

Language: English
Publisher: De Gruyter Oldenbourg
Audience: Economists, Researchers in Islamic economics and finance
Pages
- Front matter: 27
- Main content: 621
Illustrations
- Illustrations: 7
- Tables: 13
Keywords: Ethics; Spirituality; Trust; Morality; Islamic Finance

eBook

Published: April 20, 2020
ISBN: 9783110593419

Hardcover

Published: April 20, 2020
ISBN: 9783110590425