Ethical Investment vs Islamic Investment: Will the Two Ever Converge in the Globalized World?

Rosita Chong and Alex Anderson
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Rosita Chong: University Malaysia Sabah
Alex Anderson: Universiti Malaysia Sabah

No 1134, International Trade and Finance Association Conference Papers from International Trade and Finance Association

Abstract: Faith and moral have not been the only factors that influenced people to invest ethically, but also their conscience too. People has long shun away from unethical forms of business activity. Therefore, many view that ethical investment overlaps Islamic investment. Though there are many similarities between them such as the prohibition of investment in business activities that are harmful to human being, and that both forms of investment required screening processes in order to determine the ethically acceptable form of investment. Nevertheless, there are some distinct differences. This is because Islamic investment is much more than merely investing activities as it is deeply rooted in the teaching of the Qur'an. Hence, principally the two types of investment are different. With the intense process of globalisation, there is a belief that they will converge. This study tries to show that while the types of investment possess similarities, however they differ in many aspects. This paper was presented May 22, 2008, at the 18th International Conference of the International Trade and Finance Association, meeting at Universidade Nova de Lisboa, Lisbon, Portugal.Key Words: Islamic investment, Ethical Investment, Converge

Date: 2008-08-16
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