Summary and Conclusions

Mohammad Mansoor Khan and Muhammad Bhatti
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Mohammad Mansoor Khan: University of South Australia

Chapter 10 in Developments in Islamic Banking, 2008, pp 200-206 from Palgrave Macmillan

Abstract: Abstract Islam envisages economic activities absolutely essential for the material and spiritual growth and prosperity of human beings, within moral and social contexts. Islam clashes seriously with interest, which violates the cardinal principle of fairness and justice by causing the concentration of wealth and social power in the hands of a few. Islamic Economics bans interest along with all other exploitative and anti-social elements. It promotes business and economic dealings based on private ownership, free consent, mutual trust and co-operation, fairness and risk-sharing.

Keywords: Financial Institution; Middle East; Hedge Fund; Islamic Banking; Supreme Court (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-58230-9_10

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DOI: 10.1057/9780230582309_10

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