Ethics in Islamic finance: Qur'anic guide & consumer perfection

Islamic financial institutions (IFI) that are governed by sharī‘ah principles are expected to have inherently strong ethical roots such as promoting justice and avoiding any illegal and unethical elements. Hence, ethics has become a vital component in order to provide “value” for consumers. Indeed,...

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Bibliographic Details
Main Authors:	Sumairi, Nor Sazwana, Ahmad, Nadzrah
Format:	Book
Language:	English
Published:	IIUM Press, International Islamic University Malaysia 2017
Subjects:	HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/61830/ http://irep.iium.edu.my/61830/ http://irep.iium.edu.my/61830/1/61830_Ethics%20in%20Islamic%20finance.pdf

id	iium-61830
recordtype	eprints
spelling	iium-618302018-12-27T04:01:55Z http://irep.iium.edu.my/61830/ Ethics in Islamic finance: Qur'anic guide & consumer perfection Sumairi, Nor Sazwana Ahmad, Nadzrah HG3368 Islamic Banking and Finance Islamic financial institutions (IFI) that are governed by sharī‘ah principles are expected to have inherently strong ethical roots such as promoting justice and avoiding any illegal and unethical elements. Hence, ethics has become a vital component in order to provide “value” for consumers. Indeed, there are numerous Qur’anic injunctions and Prophetic guidance concerning ethical principles pertaining to Islamic finance, particularly those related to the ethics of business transactions. This book emphasises Islamic revealed guidance by compiling the Qur’anic verses related to financial transactions using selected exegeses (tafasir). Furthermore, it is also discusses on how consumers perceive the ethicality of products and services offered by IFIs. It delineates the importance of ethical finance and the need for Islamic banking to align with ethical banking. Meanwhile, a quantitative research methodological approach was adopted by utilising a structured questionnaire comprised of close-ended questions. The questionnaire was distributed among IIUM academic and administrative staff. The findings show that the majority of respondents had a positive perception of the ethicality of Islamic finance products and services. Thus, it found that Islamic banking should formulate strategies to educate and offer unique products and services differentiated by underlying ethical values to increase its appeal to customers. The findings also suggest that ethics could be considered as a factor that encourages patronage of IFIs. Hence, it is expected to assist IFIs to demonstrate their commitment and efforts in providing added value to customers. IIUM Press, International Islamic University Malaysia 2017 Book NonPeerReviewed application/pdf en http://irep.iium.edu.my/61830/1/61830_Ethics%20in%20Islamic%20finance.pdf Sumairi, Nor Sazwana and Ahmad, Nadzrah (2017) Ethics in Islamic finance: Qur'anic guide & consumer perfection. IIUM Press, International Islamic University Malaysia, Kuala Lumpur. ISBN 978-967-418-481-0 (In Press) http://www.iium.edu.my/office/iiumpress
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG3368 Islamic Banking and Finance
spellingShingle	HG3368 Islamic Banking and Finance Sumairi, Nor Sazwana Ahmad, Nadzrah Ethics in Islamic finance: Qur'anic guide & consumer perfection
description	Islamic financial institutions (IFI) that are governed by sharī‘ah principles are expected to have inherently strong ethical roots such as promoting justice and avoiding any illegal and unethical elements. Hence, ethics has become a vital component in order to provide “value” for consumers. Indeed, there are numerous Qur’anic injunctions and Prophetic guidance concerning ethical principles pertaining to Islamic finance, particularly those related to the ethics of business transactions. This book emphasises Islamic revealed guidance by compiling the Qur’anic verses related to financial transactions using selected exegeses (tafasir). Furthermore, it is also discusses on how consumers perceive the ethicality of products and services offered by IFIs. It delineates the importance of ethical finance and the need for Islamic banking to align with ethical banking. Meanwhile, a quantitative research methodological approach was adopted by utilising a structured questionnaire comprised of close-ended questions. The questionnaire was distributed among IIUM academic and administrative staff. The findings show that the majority of respondents had a positive perception of the ethicality of Islamic finance products and services. Thus, it found that Islamic banking should formulate strategies to educate and offer unique products and services differentiated by underlying ethical values to increase its appeal to customers. The findings also suggest that ethics could be considered as a factor that encourages patronage of IFIs. Hence, it is expected to assist IFIs to demonstrate their commitment and efforts in providing added value to customers.
format	Book
author	Sumairi, Nor Sazwana Ahmad, Nadzrah
author_facet	Sumairi, Nor Sazwana Ahmad, Nadzrah
author_sort	Sumairi, Nor Sazwana
title	Ethics in Islamic finance: Qur'anic guide & consumer perfection
title_short	Ethics in Islamic finance: Qur'anic guide & consumer perfection
title_full	Ethics in Islamic finance: Qur'anic guide & consumer perfection
title_fullStr	Ethics in Islamic finance: Qur'anic guide & consumer perfection
title_full_unstemmed	Ethics in Islamic finance: Qur'anic guide & consumer perfection
title_sort	ethics in islamic finance: qur'anic guide & consumer perfection
publisher	IIUM Press, International Islamic University Malaysia
publishDate	2017
url	http://irep.iium.edu.my/61830/ http://irep.iium.edu.my/61830/ http://irep.iium.edu.my/61830/1/61830_Ethics%20in%20Islamic%20finance.pdf
first_indexed	2023-09-18T21:27:42Z
last_indexed	2023-09-18T21:27:42Z
_version_	1777412302230781952

Ethics in Islamic finance: Qur'anic guide & consumer perfection

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