Responsible Ethical Finance: An Islamic Perspective
There is a universal demand for a fair and just financial system. One that is socially responsible and sustainable. The question is: how do we get there?
By Almir Colan
Financial uncertainty can magnify who we really are. It can bring out the best or the worst in us, and that struggle goes back to the very beginning of human existence. The very first business deal in the history of humankind was made soon after God created the first man and woman. A cunning broker approached these newly created beings with the following proposition: “Your Lord did not forbid you this tree except that you become angels or become of the immortal.” And he swore to them, “Indeed, I am to you from among the sincere advisors.” (Qur’an 7:21-22.) This salesperson knew how to manipulate human fears and aspirations. He sold the first ever triple “A” rated security and shrouded it in ‘sincere’ financial advice. Until that time, Adam and Eve had never...