Islamic Finance and Sustainable Development

This book discusses in detail the role that Islamic economics and finance can play in guiding the moral and ethical state of an economy or society. It explores the significance of the Islamic financial industry under the umbrella of sustainable development and climate emergency.

The Islamic economic and financial system’s main objective is to give priority to the people, and the authors assert that, theoretically, the efforts that we put into achieving sustainable development are for the well-being of the people. If people are not treated fairly by the Islamic financial industry, then the efforts towards sustainable development are fruitless. If these efforts are not based on any moral foundation, then action directed at realizing the desired outcomes may not achieve its target. The book first examines sustainable development within the framework of Islamic shari’ah, and then proceeds to look at the role Islamic financial institutions play in the growth and development of society and future financial responsibilities. Next, it focuses on sustainability and the role of Islamic finance in the context of intergenerational justice. The authors discuss different dimensions of sustainable development, halal institutions and how they integrate. By covering a range of perspectives on economic, social and moral life, within the context of Islamic finance, the book sheds light on the challenges and possible solutions to sustainable development.

This is essential reading for students and researchers across a range of disciplines, including but not limited to, economics, finance, accounting, business, Islamic and development studies.