Abstract
The Ninth Harvard University Forum on Islamic Finance provided an
opportunity for shari‘a scholars, clergymen and economists to hold deeper
critical discussions on how to build bridges across financial communities
through the promotion of Socially Responsible Investments (SRIs). This
forum took place in the aftermath of the recent global financial crisis whose
impact is still being felt across the world. For once, the global financial community agrees on the importance of ethical business in stabilizing the global economy. As part of the efforts to build bridges across financial communities in order to create a new global agenda, the nexus between faith and finance and, more importantly, the need to instill a sense of moral responsibility in global business, are trends emphasized by the contributors to this book. It is not surprising that the Financial Times observed that “[i]t is striking that even big-name bankers have been looking back at the crisis through a religious prism.”1 To this end, the recent global economic meltdown has recast the need to evaluate the relevance of faith-based initiatives and SRIs
in the global economy. Examining the economic meltdown through a religious prism leads to three related considerations: SRIs, faith-based initiatives and the role of ethics in global finance. There is no doubt that the economic crisis has thrown many business schools into array, which has in turn led to the increasing importance of ethics in the curriculum of such schools. In order to forestall a future economic crisis, the obvious solution begins at the business schools. It is, however, very gratifying to observe that most business schools across the world have begun to integrate ethics into their curriculums.
opportunity for shari‘a scholars, clergymen and economists to hold deeper
critical discussions on how to build bridges across financial communities
through the promotion of Socially Responsible Investments (SRIs). This
forum took place in the aftermath of the recent global financial crisis whose
impact is still being felt across the world. For once, the global financial community agrees on the importance of ethical business in stabilizing the global economy. As part of the efforts to build bridges across financial communities in order to create a new global agenda, the nexus between faith and finance and, more importantly, the need to instill a sense of moral responsibility in global business, are trends emphasized by the contributors to this book. It is not surprising that the Financial Times observed that “[i]t is striking that even big-name bankers have been looking back at the crisis through a religious prism.”1 To this end, the recent global economic meltdown has recast the need to evaluate the relevance of faith-based initiatives and SRIs
in the global economy. Examining the economic meltdown through a religious prism leads to three related considerations: SRIs, faith-based initiatives and the role of ethics in global finance. There is no doubt that the economic crisis has thrown many business schools into array, which has in turn led to the increasing importance of ethics in the curriculum of such schools. In order to forestall a future economic crisis, the obvious solution begins at the business schools. It is, however, very gratifying to observe that most business schools across the world have begun to integrate ethics into their curriculums.
| Original language | English |
|---|---|
| Publication status | Published - 2012 |
| Externally published | Yes |