Critical insights into contemporary Islamic accounting

Rania Kamla

CRITICAL PERSPECTIVES ON ACCOUNTING, 2009, vol. 20, issue 8, 921-932

Abstract: Much of the theoretical, normative and prescriptive research in Islamic economics, finance and accounting emphasizes the social and moral character of these disciplines. Considering such emphases, this paper critically explores the potential of aspects of contemporary Islamic accounting research and practice to contribute to the critical accounting project in the latter's efforts to achieve more emancipatory and enabling forms of accounting. The paper concludes that minimal critical theorizing, as well as the narrow instrumental and mechanical emphasis of the majority of Islamic accounting research, are indications that Islamic accounting research is diverting from its primarily proclaimed social and moral roles. This is further exacerbated by the uncritical emulation and embracing of conventional accounting operations and standards by so-called Islamic ones. The paper also attempts to identify ways forward for Islamic banking and accounting research to realize more emancipatory praxis.

Keywords: Islam; Accounting; Critical accounting; Islamic banking; Accounting and Auditing Organization for Islamic Financial Institutions; AAOIFI; Islamic accounting research (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:crpeac:v:20:y:2009:i:8:p:921-932

DOI: 10.1016/j.cpa.2009.01.002

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