Since the financial crisis of 2007/2008, a renewed discussion on the ethics and finance is being examined from different dimensions – finance for good society, responsible finance, ethical finance, financial crimes, and financial repression. The principal objective of this Handbook on Ethics of Islamic Economics and Finance is to provide a deeper understanding of the ethical underpinning of Islamic economics and finance.
The reader will notice that the Handbook reflects a diversity of views on the subject of economic and business ethics in Islam across the intellectual spectrum of Muslim thought over the globe. Handbook attempts to find answers to some questions concerning the definition and characteristics of the ethical system in Islam. What is its goal and how do its rules and practices ensure welfare for individuals and society? Are the moral principles universal and invariable or do they change and adapt with the social changes of communities and progress in science and technology? Is the present generation accountable for the welfare of future generations? Where is the boundary between law and ethics and who guarantees their adoption and implementation?
About the author
Abbas Mirakhor joined INCEIF in 2010 as Distinguished Scholar and the First Holder of INCEIF’s Chair in Islamic Finance. His research interests include conventional and Islamic economics and finance. He is a graduate of the Kansas State University, USA, where he received his Bachelor, Master and Ph D Degrees in Economics. In 1968, he started his academic career with University of Alabama, USA. Mirakhor has worked as a professor of economics at the University of Alabama, Alabama A&M University, and the Florida Institute of Technology. In 1984, he joined the IMF in Washington DC as an economist. He spent 24 years with the IMF, serving as the organisation’s Executive Director and Dean of the Executive Board, retiring in 2008.
Zamir Iqbal is currently serving as the Vice President, Finance and CFO of the Islamic Development Bank. Prior to joining the Islamic Development Bank, he served as head of the World Bank Global Islamic Finance Development Center in Istanbul. He has more than 25 years of experience of capital markets, asset management, risk management, and financial sector at the World Bank. Islamic finance has been his research focus and he has co-authored several articles and books on Islamic finance on the topics of banking risk, financial inclusion, economic development, financial stability, and risk-sharing. He played an instrumental role in the publication of World Bank and Is DB’s first Global Report on Islamic Finance. He earned his Ph D in international finance from the George Washington University and served as Professional faculty at Carey Business School of Johns Hopkins University.
Seyed Kazem Sadr ist Professor at the Shahid Beheshti University in Iran.
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