In this illuminating book, esteemed scholars examine how Islamic finance, guided by strong ethical and moral principles, can help to create a more just and sustainable global economy. The book argues that Islamic finance, which is rooted in social justice and responsibility, holds the potential to provide inclusive, forward-looking financial models.
Multidisciplinary chapters integrate perspectives from economics, finance, and environmental studies to emphasize how Islamic finance can uphold ethical values and promote economic growth. The book combines Islamic values with novel financial solutions to address urgent challenges such as climate change, social welfare, and economic inequalities. It includes practical case studies to demonstrate applications in small and medium-sized enterprise financing as well as for microfinancing in conflict zones, and details innovative financial tools such as sukuk and debt alternatives. Ultimately, it concludes that embracing sustainability, ethical governance, and emerging technologies can strengthen Islamic finance's role in shaping a prosperous future.
Bridging the gap between theory and practice on how environmental, social, and governance challenges intersect with sustainability in finance, this book is an invaluable resource for scholars and students of Islamic economics and finance. Industry experts, policymakers, regulators, and professionals in Islamic finance and sustainability will also benefit from its actionable insights.
Rezensionen / Stimmen
'This seminal book underscores the potential of Islamic finance to bridge funding gaps, align with ESG principles, and foster a circular economy through innovative products and community engagement, all rooted in a tradition of over 1,440 years of ethical and moral guidance. An essential read for anyone wanting to learn more about Islamic finance and sustainability.' -- Azmi Omar, President, INCEIF University, Malaysia 'This timely book presents viable alternatives to achieving shared and sustainable prosperity based on sound principles of Islamic economics and finance rooted in ethics, social and economic justice, and welfare of humanity. The editors and contributors are to be congratulated for this effort which is a significant contribution to the field and offers a path forward for researchers, policymakers and practitioners.' -- Zamir Iqbal, Vice President and CFO, Islamic Development Bank 'This book is a timely addition to Islamic finance literature, which explores the role of Islamic finance in addressing global challenges like inequality and environmental degradation. Combining theory and case studies, it offers practical insights for sustainable development and inclusive prosperity through ethical financial systems. A good guide for readers who have an interest in Islamic finance and the sustainability agenda.' -- Nafis Alam, Monash University Malaysia
Reihe
Sprache
Verlagsort
Zielgruppe
Maße
Höhe: 234 mm
Breite: 156 mm
ISBN-13
978-1-0353-4967-8 (9781035349678)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Klassifikation
Edited by Syed Nazim Ali, Professor and Director, Research Division, College of Islamic Studies, Hamad Bin Khalifa University, Qatar, Umar A. Oseni, Secretary General, Organisation of Islamic Cooperation Arbitration Centre, Istanbul, Turkey, Zul Hakim Bin Jumat, Islamic Wealth Specialist, Community Financial Services - Islamic Wealth Management, Maybank Singapore Ltd, Singapore
Contents
Preface
Syed Nazim Ali
PART I INTRODUCTION
1 Islamic Finance and the Pursuit of Sustainable Prosperity:
an introduction 2
Umar A. Oseni
PART II EVOLVING ETHICAL NARRATIVES: ISLAMIC
FINANCE IN A SUSTAINABLE WORLD
2 Sustainability, regenerative, and humane transition: role of
Islamic finance 14
Tariqullah Khan
3 Ethics and economics: meaningful axiological discourse of
Islamic economics 53
Hafas Furqani, Mohammad Arifin and Mohamed Aslam
Mohamed Haneef
4 Embracing ethical consumption: integrating Islamic values
and minimalism for sustainable lifestyles 70
Mohamed Aslam Akbar
5 Fintech and the ethical dimensions of money creation in the
age of hard forks 92
Mohammed Khaiata and Abdulazeem Abozaid
PART III ISLAMIC FINANCE AND SUSTAINABLE DEVELOPMENT
6 Leaving no one behind: sustainable development through the
lens of Islamic finance products and services 107
Umar A. Oseni
7 ESG adjustment in country risk premium in sovereign sukuk 134
Salman Ahmed
8 The impact of Aid for Trade and institutional quality on green
GDP in OIC countries 161
Zakaria Lacheheb and Sumia Faisal Abdulkadir
9 Climate footprints of GCC's economic sectors and the role of
Islamic finance in building a sustainable future 180
Imene Tabet
PART IV CASE STUDIES AND EMPIRICAL DIMENSIONS
OF SUSTAINABLE STRATEGIES AND DYNAMICS
10 Assessing consumer participation in the circular economy:
a study of education, awareness, and pro-environmental
behavior in Qatar 198
Nasim Shah Shirazi, Syed Nazim Ali and Bushra Faizi
11 Unveiling the puzzle of Islamic economics and finance,
behavioral economics and experimental studies: an
exploration from a gift-exchange game experiment 232
Azizon
12 Sustainable alternatives to Tawarruq-based debt financing for
SMEs in Malaysia 255
Phei Wen Ooi and Obiyathulla Ismath Bacha
13 Exploring the sustainable business model components of
Islamic banking in Malaysia 291
Norbihan Mohammad, Nurhafiza Abdul Kader Malimand
Normalini Md Kassim
14 Sustainable investing and corporate performance: evidence
from Shariah-compliant companies in Malaysia 321
Norashikin Ismail, Farha Ghapar, Mohamad Azwan Md Isa,
Ruziah A. Latifand Yuslizawati Mohd Yusoff
15 On the dynamic links between commodities and Islamic
equities: an extended analysis 338
Ruslan Nagayev, Mustafa Disli and Edib Smolo
