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Financing ethos: The socially and economically transformative role of Islamic Finance

Financing ethos: The socially and economically transformative role of Islamic Finance

Wilson, Jon (2014) Financing ethos: The socially and economically transformative role of Islamic Finance. In: Financing Ethos: The socially and economically transformative role of Islamic finance, 2 Jul 2014, Committee Room G, House of Lords, Westminster, London, UK.

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Abstract

The global crisis highlighted that our financial system, blinded by excessive short-term returns, had lost the ethos and values that ought to underpin such a crucial aspect of our economy. In what can be termed the ‘new age’ for financial services we need a diverse mix of banking institutions, underpinned by strong and coherent ethical codes, to support the economic recovery and rejuvenate our communities.

Bound by tradition and ethics, Islamic finance follows a moral code that could transform our financial sector and restore ethos and values to British banking. Already prominent in the UK, and with a projected global market worth of $2 trillion in assets by the end of 2014, it is not only ethical but profitable. In order to harness the opportunities presented by Islamic finance, and to cater for the UK’s young and growing Muslim community, the economic and social benefits of Islamic Finance need to make their mark in the mainstream political debate.

In light of this, ResPublica and the All Party Parliamentary Group on Islamic Finance & Diversity in Financial Markets, are holding a roundtable discussion to engage with stakeholders in the Islamic finance sector, Parliamentarians and academics, to explore how Islamic finance could be better utilised in the UK and discuss the transformative role it could play in our communities.

Item Type: Conference or Conference Paper (Plenary)
Additional Information: [1] Part of Private Roundtable event, held Wednesday 2 July 2014, 2.15 - 4.00pm, Committee Room G, House of Lords, Westminster, London, UK. Organised byt ResPublica and the APPG for Islamic Finance & Diversity in Financial Markets to discuss the socially and economically transformative role of Islamic finance.
Uncontrolled Keywords: Islamic finance, alternative finance, Islamic banking, Islamic economics
Subjects: H Social Sciences > HG Finance
Faculty / Department / Research Group: Faculty of Business > Department of Marketing, Events & Tourism
Related URLs:
Last Modified: 14 Oct 2016 09:28
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/11789

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