Islamic Finance and the Pursuit of Sustainable Prosperity: an introduction

Umar A. Oseni

Chapter 1 in Islamic Finance and the Pursuit of Sustainable Prosperity, 2025, pp 2-12 from Edward Elgar Publishing

Abstract: Over the past few decades, significant strides have been made in integrating Islamic finance into the global economic system. With the global shift towards social finance and the prioritization of environmental, social, and governance (ESG) principles, it is worth exploring the contributions of Islamic finance to sustainable economic development and, more importantly, sustainable prosperity. Rooted in principles that have endured for over 1,440 years, Islamic economic jurisprudence encompasses environmental sustainability, social and economic empowerment, and sound governance frameworks. This introductory chapter examines these principles in the context of modern sustainability discourses, as discussed in the subsequent chapters of this book. It concludes that the principles of Islamic finance, which emphasize ethical conduct, social responsibility, and the welfare of humanity, provide a unique framework for achieving sustainable prosperity. By integrating these values into financial systems, we can foster a more equitable and sustainable future for all.

Keywords: Sustainable prosperity; Sustainable development goals; Islamic social finance; ESG; Maqasid framework (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035349678
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