Islamic Social Finance from the Quran and Sunnah

Sherin Kunhibava (), Aishath Muneeza (), Maryam Binti Khalid (), Zakariya Mustapha and Thong Ming Sen
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Sherin Kunhibava: University of Malaya
Aishath Muneeza: INCEIF
Maryam Binti Khalid: University of Malaya
Zakariya Mustapha: University of Malaya
Thong Ming Sen: University of Malaya

Chapter Chapter 1 in Islamic Social Finance, 2024, pp 1-21 from Springer

Abstract: Abstract This chapter provides a comprehensive exploration of the principles of Islamic social finance rooted in the Quran and Sunnah. Readers will gain insights into the various dimensions of Islamic social finance, understanding its core concepts and principles without compromising the ethical and legal frameworks defined by Shariah. The chapter outlines the Shariah injunctions that govern Islamic social finance institutions and instruments, offering a deep dive into the ethical and legal foundations that guide these financial practices. It also examines the historical context and emergence of Islamic social finance in contemporary development discourse, shedding light on its evolution over time. A significant focus of the chapter is on illustrating the impact of Islamic social finance on sustainability. By showcasing how these financial practices align with principles of social responsibility and ethical investing, the chapter emphasizes the positive contributions of Islamic social finance to broader societal and environmental goals. Additionally, the chapter explores the interconnections between Islamic social finance and blended finance, alternate finance, and the circular economy. Readers will gain a nuanced understanding of how Islamic social finance can seamlessly integrate with diverse financial models, contributing to a more holistic perspective on its role in the global economic landscape. Upon completing this chapter, readers will have a solid foundation in Islamic social finance, enabling them to appreciate its theological origins, legal frameworks, contemporary relevance, and its potential synergy with various financial paradigms.

Keywords: Islamic Social Finance; Shariah Injunctions; Sustainability; Blended Finance; Circular Economy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-1410-0_1

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DOI: 10.1007/978-981-97-1410-0_1

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