Ethical Dimensions in Islamic Finance: The Way Forward

Abstract

At a seminar organised by the Securities Commission about two years ago on the financial crisis in the West, I asked a professor from Australia whether the crisis was a result of the system itself, or of the abuse of the system. He replied, “Abuse.” Then I said, “Well, if it is abuse, then abuse may also happen in the Islamic system.” He agreed, but argued that there was a difference because the Islamic system is faith-based.