Islamic Perspectives on Wealth Creation: Studies in Honour of Robert Hillenbrand

A comprehensive discussion of the ethical issues facing wealth creation in the Muslim world Debt finance involving interest payments - the standard method in the global economy - goes against Qur'anic teaching and Shariah law. Wealth creation is therefore one of the greatest challenges facing Muslims and the Islamic world. This book explores the longer term issues of Islamic capital accumulation and its contribution to the development of Muslim societies in the East and West. Although many of these societies remain poor, it is shown that there is much positive experience to learn from - especially that wealth creation is most successful when the institutions created to harness and deploy funds share the values of the societies they serve. It can be seen that adherence to religious values brings social development, and that moral financing makes good business sense. The potential for Islamic mortgages and insurance, and the scope for Islamic venture capital funding and other forms of equity financing are explored by a range of contributors drawing on a wealth of varied experiences from Malaysia to Iran, Kuwait, Egypt and Sudan.