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Shari’ah principles of preventing financial crisis in Islamic finance

Sa'ad, Auwal Adam and Ibrahim, Badruddin and Abdul Kadir Malim, Nurhafiza (2018) Shari’ah principles of preventing financial crisis in Islamic finance. In: 6th Global Waqf Conference 2018, 19th -22nd November, Bangkok, Thailand. (Unpublished)

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Abstract

The study looks into the potential Shari’ah principles and ethics as measures to preventing financial crisis in Islamic finance. Library research method adopted to gather information related to the Islamic principles preventing financial crisis in Islamic finance. Islamic ethics and Shari’ah principles are vital to preventing financial crisis in Islamic finance. Shari’ah promotes trustworthiness, God-fearing and general ethics while doing business in an Islamic marketplace. The system encourages market observation and surveillance to ensure a strict adherence to the Islamic ethics and trustworthiness. Islamic financial system prohibits interest taking, gambling, sale of debt for debt. This has prevented the Islamic financial market atmosphere from deceptive activities that actually cause mistrust and panic which lead to a financial crisis. Islamic business ethics and the Shari’ah principles are the twin factors which can sustain the investor confidence within the Islamic financial institutions.

Item Type: Conference or Workshop Item (Slide Presentation)
Additional Information: 8761/71692
Uncontrolled Keywords: Shari'ah; Financial Crisis; Islamic Finance
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP190.5 Islamization of Knowledge
H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Ahmad Ibrahim Kulliyyah of Laws
Institute of Islamic Banking & Finance (IIiBF)
Depositing User: DR. Auwal Adam Sa'ad
Date Deposited: 22 Apr 2019 11:47
Last Modified: 13 Nov 2019 09:41
URI: http://irep.iium.edu.my/id/eprint/71692

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