Returning

Umar F. Moghul

Chapter Chapter 7 in A Socially Responsible Islamic Finance, 2017, pp 295-296 from Palgrave Macmillan

Abstract: Abstract Moving beyond present-day Islamic finance to serve the common good requires an expansion of the applications of Islamic norms. The Shari’ah, as hopefully has been demonstrated, invites humanity to sustainable and responsible living, compassionate relationships, and institutions and economies marked by inclusivity, sustainability, and resiliency. In earning, businesses choosing to place themselves within the fold of the Shari’ah aspire to realize and preserve the objectives of Islamic ethics, particularly of wealth comprehensively understood to ensure its continuity and that of life—of the Earth, its diverse inhabitants, and interrelated systems. Foremost among these universals is the religion (din) itself, namely the preservation of faith, worship and religious devotions, and the relevancy of its continued applicability. To seek out these higher objectives, financial institutions and businesses must intend positive impact through avoiding harm and seeking benefit, as countenanced by the Shari’ah. A precursor to this expansion is the paths of tazkiyyah, as a necessary enabling spiritual transformative effort.

Keywords: Islamic Finance; Seeking Benefits; Islamic Ethics; Compassionate Relationships; Diverse Inhabitants (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:psibcp:978-3-319-48841-7_7

Ordering information: This item can be ordered from
http://www.palgrave.com/9783319488417

DOI: 10.1007/978-3-319-48841-7_7

Access Statistics for this chapter

More chapters in Palgrave Studies in Islamic Banking, Finance and Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().