Islamic Finance: The Ethical Ideals vs the Controversial Practice

Abderrafi EL MAATAOUI

Article Details

Islamic Finance: The Ethical Ideals vs the Controversial Practice

Authors:

Abderrafi EL MAATAOUI

Publisher:

Recherches et Applications en Finance Islamique (RAFI)

Journal:

Recherches et Applications en Finance Islamique (RAFI) Vol.2 Issue 2, pp.196-207

Document Type:

Article

Publication Date:

10/2018

Document Language:

English

Document ID (Org No.):

2001842771

pISSN:

2509-0224

Abstract:

 Ethics resonate well with the Islamic finance moral goals. But, the tremendous commercial and financial success of Islamic finance over the last three decades raises some questions about the compliance to the original moral goals of finance in Islam. The goal of this paper is to highlight the significant criticism addressed by prominent specialists to the excessive use of debt based products and non-participatory financing contracts such as Murabaha and Ijarah. The negligible part of participatory financing contracts such as Musharaka and Mudaraba is also pointed out by jurists and practitioners. Also, some key issues are involved in Islamic banks controls by the Shari’a Supervision Board, and in corporate governance related to investment accounts holders.

Article Details

Islamic Finance: The Ethical Ideals vs the Controversial Practice

Authors: Abderrafi EL MAATAOUI

Publisher: Recherches et Applications en Finance Islamique (RAFI)

Journal: Recherches et Applications en Finance Islamique (RAFI) Vol.2 Issue 2, pp.196-207

Document Type: Article

Publication Date: 10/2018

Document Language: English

Document ID (Org No.): 2001842771

pISSN: 2509-0224

Issues

Authors:

Abderrafi EL MAATAOUI

Publisher:

Recherches et Applications en Finance Islamique (RAFI)

Journal:

Recherches et Applications en Finance Islamique (RAFI) Vol.2 Issue 2, pp.196-207

Document Type:

Article

Publication Date:

10/2018

Document Language:

English

Document ID (Org No.):

2001842771

pISSN:

2509-0224