Handbook of Ethics of Islamic Economics and Finance

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The principal objective of this Handbook is to provide a deeper understanding of the ethical underpinning of Islamic economics and finance. Since the financial crisis of 2007/2008, discussions on ethics and finance have attracted attention in academic research as well as in public policy debates. This topic is being examined from different dimensions - finance for good society, responsible finance, ethical finance, and financial repression. Leading business schools such as Harvard have realized the importance of including dedicated courses on ethics in their business curriculum. As Islamic finance experiences a high growth rate, advocates of Islamic finance are making a case for Islamic finance as an ethical finance alternative. The main objective of the Handbook is to provide the theoretical foundation and perspective of the ethics embedded in Islamic economics and finance to demonstrate how this ethical framework would achieve economic and social justice leading to a just society. Most of the economic and finance issues are actually ethical issues such as dealing with moral hazard, self-interest, and social good. However, economics and finance as disciplines have been developed as 'value-neutral' social sciences. The Handbook will discuss the philosophical foundation of the ethics of business transactions and of Islamic economics and finance and how ethics shape the decision-making in such system.