Jump to ContentJump to Main Navigation
The Middle Path of Moderation in IslamThe Qur'anic Principle of Wasatiyyah$
Users without a subscription are not able to see the full content.

Mohammad Hashim Kamali

Print publication date: 2015

Print ISBN-13: 9780190226831

Published to Oxford Scholarship Online: June 2015

DOI: 10.1093/acprof:oso/9780190226831.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 23 April 2019

Financial Imbalance, Extravagance, and Waste (Isrāf, Tabdhīr)

Financial Imbalance, Extravagance, and Waste (Isrāf, Tabdhīr)

(p.146) XVI Financial Imbalance, Extravagance, and Waste (Isrāf, Tabdhīr)
The Middle Path of Moderation in Islam

Mohammad Hashim Kamali

Oxford University Press

This chapter reviews scriptural evidence in the Islamic sources against greed, waste, usury, hoarding, and profiteering. It also expounds the Shari’ah rules pertaining to ownership, financial transactions, and business relations that seek to keep trading and finance in touch with the real economy and the people’s needs. Then follows an examination of the recurrent financial crises, the currency turmoil, the US subprime mortgage, the Eurozone debt crisis, and extensive fraudulent irregularities by some of the world’s leading banks. The chapter advances an argument that the in-built restraints in Islamic banking and finance can contribute to financial stability and health of the world economy.

Keywords:   capitalism, ownership, disparities, poverty, Islamic banking, finance

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .