| Description |
1 online resource |
| Series |
Palgrave studies in Islamic banking, finance and economics |
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Palgrave studies in Islamic banking, finance, and economics.
|
| Contents |
Machine generated contents note: 1. Ethics and Finance -- 1.1. Ethics and Economics and Finance -- 1.1.1. Frequent Financial Crises and Crimes -- 1.1.2. Expropriation of Value and Fair Valuation -- 1.1.3. Corporate Governance -- 1.1.4. Business Leadership -- 1.1.5. Due Care, Honesty, and Transparency -- 1.2. Moral Failure of Capitalism -- 1.3. Financial Repression -- 1.4. Case of Economic Crimes -- 1.5. Summary -- References -- 2. Moral Sense and Ethics in Economics and Finance -- 2.1. Perspectives on Moral Sense -- 2.2. Search for a Universal Moral Principle -- 2.2.1. Golden Rule in Historical Context -- 2.2.2. Golden Rule as Universal Moral Principle -- 2.3. Applying Golden Rule to Economics and Finance -- 2.4. Theories of Business Ethics -- 2.4.1. What Is Virtue Ethics? -- 2.5. Islamic Perspective on Business Ethics -- References -- 3. Key Virtues of Business Ethics in Islam -- 3.1. Embracing the Unity of Creation -- 3.2. Being Just and Striving for Justice -- 3.3. Preservation of Rights -- 3.4. Sanctity of Contracts -- 3.5. Truthfulness and Integrity -- 3.6. Trustworthiness -- 3.7. Goodness and Excellence (Ihsan) -- 3.8. Compassion and Generosity -- 3.9. Prudence and Humility -- 3.10. Honesty in Business Transaction -- 3.11. Cooperation and Solidarity -- References -- 4. Business Ethics in Islam -- 4.1. Market Conduct -- 4.2. Work and Work Ethics -- 4.3. Production, Consumption, and Distribution -- 4.4. Competition and Cooperation -- 4.5. Stakeholders' Rights -- 4.6. Transparency -- 4.7. Business Leadership -- 4.8. Respecting and Protecting Environment -- 4.9. Avoidance of Vices or Unethical Practices -- 4.10. Conclusion -- References -- 5. Ethical Dimensions of Islamic Economics and Finance -- 5.1. Risk Sharing -- 5.2. Ethics of Risk Sharing -- 5.2.1. Avoidance of Risk Shifting and Exploitation -- 5.2.2. Materiality and Financing of Real Economy Versus Financialization -- 5.2.3. Reduced Information and Agency Problems -- 5.2.4. Stability of the Financial System -- 5.2.5. Overcoming Financial Repression -- 5.2.6. Enhancing Cooperation Among Economic Agents -- 5.2.7. Government as Agent for Risk Sharing -- 5.3. Economic and Social Justice -- 5.4. Redistributive Justice -- 5.5. Role of Regulations -- 5.6. Governance and Prudence -- References -- 6. Sacralizing Finance: Risk-Sharing Islamic Finance -- 6.1. Is the Regime of Risk Transfer Sustainable? Impossible Contract and Inequality -- 6.2. Risk Transfer System: Debt-Economy -- 6.3. Is Risk Sharing a Better Alternative? -- 6.4. How Does Risk Sharing Make a Financial System Antifragile? -- 6.5. Conclusion -- References -- 7. Ethical and Responsible Finance for Development -- 7.1. Need for New Perspective on Economic Development -- 7.2. Development Approaches: Conventional Versus Islamic -- 7.3. Ethics of Islamic Perspective of Development -- 7.3.1. Social and Economic Justice -- 7.3.2. Equitable and Fair Distribution -- 7.3.3. Redistribution (Inclusion) -- 7.4. Conclusion -- References |
| Summary |
This book provides an introductory theoretical foundation of the ethics embedded in Islamic economics and finance, and it shows how this ethical framework could pave the way to economic and social justice. It demonstrates how Islamic finance--a risk-sharing and asset-backed finance--has embedded universal values, ethical rules, and virtues, and how these qualities may be applied to a supposedly value-neutral social science to influence policy-making. This book argues that ethical and responsible finance, such as Islamic finance, could lead the efforts to achieve sustainable economic development. Iqbal and Mirakhor then conduct a comparative analysis of Islamic and conventional financial systems and present Islamic finance as an alternative that can address today's growing problems of inequality, social injustice, financial repression, unethical leadership, and lack of opportunity to share prosperity |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Online resource; title from PDF title page (EBSCO, viewed October 12, 2017) |
| Subject |
Finance -- Islamic countries
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Banks and banking -- Islamic countries.
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Banking law -- Islamic countries
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Macroeconomics.
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Microeconomics.
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Banking.
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BUSINESS & ECONOMICS -- Finance.
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Banking law
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Banks and banking
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Finance
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Islamic countries
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| Form |
Electronic book
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| Author |
Mirakhor, Abbas, author.
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| ISBN |
9783319663906 |
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3319663909 |
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