IGNOU MPYP-01 Project – Analytical Study on Ethical Philosophy of Islamic Banking

Islamic economics and finance has emerged as a new discipline and it’s much discussed and proving to be a practical alternative interest-based financial pragmatism. This new system is based on divine supervision (Quran) and Sunnah for the guidance of human economic and financial dealings. The Holy Prophet, being himself an affluent trader, was directed for the eradication of all the biased transactions and established the policy of circulation of wealth.

Objectives

• The research will provide logic and ethos of the Islamic banking system. The research is to analyze the theological consequence which will be specifically an innovation in the area. The research will achieve the objective of spiritual being with the balanced economic resources.

Topic Covered

• Introduction
• Ethical Philosophy of Islam
• Institutionalization of Finance in Islamic Genesis, Evolution and Growth
• Theological Prohibition of Usury (Riba) and Philosophy of Its Prohibition
• Globalization and Intellectual Acceptance of Islamic Banking
• Ethical Modes of Transactions in Islamic Banking
• Conclusion & Recommendations
• Bibliography
• References