By Umar F. Moghul
This e-book explores how, via spirituality and the advance of personality, Islamic monetary associations and Muslim groups can combine their companies with modern social accountability projects to provide optimistic social and environmental effect. From the looming environmental concern to the divide among mainstream and extremist interpretations of Islam, the publication addresses major questions dealing with Muslim groups – and humanity – and demonstrates why Islam should still take a seat ‘at the desk’ with different faiths and moral traditions discussing humanity’s nice hindrances. not like current literature, this paintings explores the intersections among classical Islamic ethics and spirituality, modern Islamic finance and financial markets, and choose sustainability and influence tasks (such because the Equator ideas and UN rules of in charge funding) designed to make the worlds of commercial and finance accountable for the environments during which they function and the groups that aid them. Drawing on his years of expertise in Islamic banking, Moghul addresses those functions in gentle of real-world practices and dilemmas, demonstrating how Islamic firms and Muslim groups may still include the wide variety of stakeholders countenanced by means of the Shari’ah in conversations that have an effect on them. by means of situating his exploration of Islamic finance within the gentle of the a lot better severe problems with stability, justice, and moderation in Islamic praxis, Moghul creates an interdisciplinary e-book that would entice teachers and researchers in economics, finance, enterprise, govt and coverage, and law.
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Extra resources for A Socially Responsible Islamic Finance: Character and the Common Good
It is not hard to imagine definitions of wealth growing in light of prevailing customs and other contextual factors. As a result of new technologies, for example, some garbage, which may not be wealth for many, is valuable to others as it is recycled into useful goods or transformed into energy. There are thus ISLAMIC SPIRITUALITY: AN IMPETUS TO RESPONSIBILITY AND IMPACT 27 very real-world consequences to whether a thing is wealth (or wealth- enough), not only for the preservation of community possessions but the preservation of life and other Islamic objectives.
131. Adi Setia, “The Restoration of Wealth: Introducing Ibn Abi al- Dunya’s Islah al-Mal”, Islamic Sciences 13 (Winter 2015): 91. 132. Qur’an 24: 36–37. 133. Kamali, Work, 133; See generally Abu Hamid Al-Ghazali, Lawful and Unlawful, trans. Yusuf T. DeLorenzo (Cambridge, Islamic Texts Society, 2014). 134. Kamali, Work, 98. 135. Qur’an 35:7. 136. Kamali, Work, 100–01. 137. Kamali, Work, 117. 138. Warde, Global, 60. 139. Muslim, Sahih Muslim, Book of Zakat, Hadith No. (1044). 140. Ibrahim Warde, Islamic Finance in the Global Economy (Edinburgh: Edinburgh University Press, 2010), 60 (quoting Khalid Ishaque, “The Islamic approach to economic development”, Voices of Resurgent Islam, ed.
174. Abu Hamid Al-Ghazali, The Book of the Proprieties of Earning and Living, trans. Adi Setia (Kuala Lumpur: IBFIM, 2013), 69. 175. Al-Ghazali, Proprieties, 7. The hadith is found in al-Tirmidhi, al- Hakim, and Ibn Majah. 176. Qur’an 83:1–3. 177. Qur’an 55:7–9. 178. Al-Ghazali, Proprieties, 71. The hadith is found in Sahih Muslim. 179. Muhy al-Din al-Nawawi, Forty Hadith, Hadith 13. F. MOGHUL 180. Quran 4:135. 181. Qur’an 4:58. ), 528. 183. Kamali, Moderation, 85. 184. Shaybani, Earning, 54. 185.