Debt finance involving interest payments - the standard method in the global economy - goes against Qur'anic teaching and Shariah law. Wealth creation is therefore one of the greatest challenges facing Muslims and the Islamic world.
This book explores the longer term issues of Islamic capital accumulation and its contribution to the development of Muslim societies in the East and West. Although many of these societies remain poor, it is shown that there is much positive experience to learn from - especially that wealth creation is most successful when the institutions created to harness and deploy funds share the values of the societies they serve. It can be seen that adherence to religious values brings social development, and that moral financing makes good business sense.
|Publisher:||Edinburgh University Press|
|Product dimensions:||9.30(w) x 6.30(h) x 0.90(d)|
|Age Range:||18 Years|
About the Author
Munawar Iqbal is Chief of Research at the Islamic Development Bank's Islamic Research and Training Institute, Jeddah, Saudi Arabia Rodney Wilson is Founder of the Islamic Finance Programme at the Durham University