Ethical Dimensions of Islamic Finance : Theory and Practice /
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 unive...
محفوظ في:
| المؤلفون الرئيسيون: | , |
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| الوثيقة: | كتاب إلكتروني |
| اللغة: | English |
| منشور في: |
Cham :
Springer International Publishing : Imprint: Palgrave Macmillan,
2017.
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| الطبعة: | 1st ed. 2017. |
| سلاسل: | Palgrave Studies in Islamic Banking, Finance, and Economics,
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| الموضوعات: | |
| الوصول للمادة أونلاين: | http://library.sama.gov.sa/cgi-bin/koha/opac-retrieve-file.pl?id=1be672a5ea13c19668671be43e3802a4 |
| الوسوم: |
إضافة وسم
لا توجد وسوم, كن أول من يضع وسما على هذه التسجيلة!
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جدول المحتويات:
- Contents 1 Ethics and Finance 1 1.1 Ethics and Economics and Finance 4 1.1.1 Frequent Financial Crises and Crimes 6 1.1.2 Expropriation of Value and Fair Valuation 8 1.1.3 Corporate Governance 9 1.1.4 Business Leadership 10 1.1.5 Due Care, Honesty, and Transparency 10 1.2 Moral Failure of Capitalism 11 1.3 Financial Repression 15 1.4 Case of Economic Crimes 16 1.5 Summary 20 References 22 2 Moral Sense and Ethics in Economics and Finance 25 2.1 Perspectives on Moral Sense 27 2.2 Search for a Universal Moral Principle 31 2.2.1 Golden Rule in Historical Context 33 2.2.2 The Golden Rule as Universal Moral Principle 34 2.3 Applying Golden Rule to Economics and Finance 39 2.4 Theories of Business Ethics 43 2.4.1 What Is Virtue Ethics? 45 2.5 Islamic Perspective on Business Ethics 48 References 54 x Contents 3 Key Virtues of Business Ethics in Islam 61 3.1 Embracing the Unity of Creation 64 3.2 Being Just and Striving for Justice 66 3.3 Preservation of Rights 68 3.4 Sanctity of Contracts 70 3.5 Truthfulness and Integrity 72 3.6 Trustworthiness 73 3.7 Goodness and Excellence (Ihsān) 75 3.8 Compassion and Generosity 76 3.9 Prudence and Humility 76 3.10 Honesty in Business Transaction 78 3.11 Cooperation and Solidarity 79 References 79 4 Business Ethics in Islam 81 4.1 Market Conduct 82 4.2 Work and Work Ethics 86 4.3 Production, Consumption, and Distribution 89 4.4 Competition and Cooperation 91 4.5 Stakeholders’ Rights 92 4.6 Transparency 93 4.7 Business Leadership 94 4.8 Respecting and Protecting Environment 96 4.9 Avoidance of Vices or Unethical Practices 98 4.10 Conclusion 99 References 101 5 Ethical Dimensions of Islamic Economics and Finance 103 5.1 Risk Sharing 104 5.2 Ethics of Risk Sharing 108 5.2.1 Avoidance of Risk Shifting and Exploitation 109 5.2.2 Materiality and Financing of Real Economy Versus Financialization 110 5.2.3 Reduced Information and Agency Problems 111 5.2.4 Stability of the Financial System 113 5.2.5 Overcoming Financial Repression 115 5.2.6 Enhancing Cooperation Among Economic Agents 116 5.2.7 Government as Agent for Risk Sharing 117 Contents xi 5.3 Economic and Social Justice 119 5.4 Redistributive Justice 122 5.5 Role of Regulations 124 5.6 Governance and Prudence 128 References 131 6 Sacralizing Finance: Risk-Sharing Islamic Finance 135 6.1 Is the Regime of Risk Transfer Sustainable? Impossible Contract and Inequality 140 6.2 Risk Transfer System: Debt-Economy 146 6.3 Is Risk Sharing a Better Alternative? 154 6.4 How Does Risk Sharing Make a Financial System Antifragile? 156 6.5 Conclusion 157 References 159 7 Ethical and Responsible Finance for Development 163 7.1 Need for New Perspective on Economic Development 165 7.2 Development Approaches: Conventional Versus Islamic 169 7.3 Ethics of Islamic Perspective of Development 175 7.3.1 Social and Economic Justice 177 7.3.2 Equitable and Fair Distribution 178 7.3.3 Redistribution (Inclusion) 181 7.4 Conclusion 185 References 186 Index 189