Islamic finance values hold key to innovation - Islamic Finance - Zawya

?

By MUSHTAK PARKER

?

In the aftermath of the global financial crisis which was precipitated inter alia by the conduct and perceived greed of bankers chasing profits and bonuses seemingly at any cost, there has been a revisiting of the philosophy of banking and finance especially its relationship to the public good and the real economy.

In Islamic economics and finance, the concept of the Public Good (Maslaha) is well established. Islamic finance in essence should also pursue Maqasid Al-Shariah - the objectives of the Shariah relating especially to financial transactions, relationships and contracts.

Islamic finance, stress academics such as Professor Hashim Kamali, has provided sufficient evidence that the Shariah has enormous potential to contribute to the Public Good. One manifestation is the proscription on investments in speculative derivatives and transactions such as CDOs which were t

Source: http://www.zawya.com/story.cfm/sidZAWYA20111226034622/Islamic_finance_values_hold_key_to_innovation

lipitor lipitor kourtney kardashian pregnant again kourtney kardashian pregnant again apple juice apple juice jay cutler