Considering the Dichotomy between the Ideals and Realities of Islamic Finance

New Horizon, No. 174, p. 32, January-March 2010

2 Pages Posted: 7 Jan 2011 Last revised: 24 Jun 2012

Date Written: 2010

Abstract

The criticisms of the financial system opened up a new discussion on the importance of moral in economic and financial life. Islamic moral economy (IME) provides a constructivist response to this through integrating moral into IBF in a systematic and spiritual manner. However, a critical examination of the developments and trends in IBF since its globalisation in 1990s indicate that the convergence has been from IBF to conventional finance in terms of operations and functioning; and that IBF, through its commercial banking and finance nature, does not necessarily uphold the spirit of IME.

Suggested Citation

Asutay, Mehmet, Considering the Dichotomy between the Ideals and Realities of Islamic Finance (2010). New Horizon, No. 174, p. 32, January-March 2010 . Available at SSRN: https://ssrn.com/abstract=1735677 or http://dx.doi.org/10.2139/ssrn.1735677

Mehmet Asutay (Contact Author)

Durham Business School ( email )

Mill Hill Lane
Durham, Durham DH1 3LB
United Kingdom

Register to save articles to
your library

Register

Paper statistics

Downloads
182
Abstract Views
692
rank
165,594
PlumX Metrics