God Conscious Organization And The Islamic Social Economy

Can there be God-conscious organizational behaviour in the real world of today’s capitalist corporations and the alternatives? In this overview of God-consciousness as a moral-awareness model of preference formation, functions, structures, and programs of organization within the purview of institutions and society, the authors explain and compare the major ethical issues of organizational behaviour and structure in Islamic economic theory and application. By analysing the nature of inclusive organizations and institutions, and the ethical preferences in Islamic choice framework, the authors from Saudi Arabia, Australia, Malaysia, Bangladesh, Canada, Indonesia and the UK, can highlight individual aspects to show whether capitalist organizational behaviour is sustainable. They describe how The Tawhidi epistemological framework governing conscious moral decision-making by institutions and organization, are used to establish the meaning and potential application of the concept of sustainability, and whether organizational moral objectives achieve their goals of life-fulfilment development, Poverty alleviation and the equitable distribution of wealth and resources.

Can there be God-conscious organizational behaviour in the real world of today's capitalist corporations and the alternatives? In this overview of God-consciousness as a moral-awareness model of preference formation, functions, structures, and programs of organization within the purview of institutions and society, the authors explain and compare the major ethical issues of organizational behaviour and structure in Islamic economic theory and application. By analysing the nature of inclusive organizations and institutions, and the ethical preferences in Islamic choice framework, the authors from Saudi Arabia, Australia, Malaysia, Bangladesh, Canada, Indonesia and the UK, can highlight individual aspects to show whether capitalist organizational behaviour is sustainable. They describe how The Tawhidi epistemological framework governing conscious moral decision-making by institutions and organization, are used to establish the meaning and potential application of the concept of sustainability, and whether organizational moral objectives achieve their goals of life-fulfilment development, Poverty alleviation and the equitable distribution of wealth and resources.

In this book Dr. Irfan Ul Haq examines the primary sources of Islam to extract and formalize from them the Islamic economic doctrines as well as the sociopolitical framework which guides the development of society. In particular, emphasis is placed on the problems of poverty, unemployment and lack of human resource development. What the study suggests is that if Islam is properly studied through an idealistic-rational integrated methodology and understood in its spirit and purposes, it reveals a core set of permanent values and principles that form the fixed dimension of Islam which then are applicable to virtually all human situations of society, polity and economy in all space-and-time. It is this in-built dynamism of Islam, demonstrated here with historical examples, that is utilized in approaching and providing solutions to contemporary economic problems and issues. Written for students of social science and economics and students of Islam. Economic Doctrines of Islam nevertheless addresses itself to all such individuals who are interested in seeking divine guidance in the realm of ethical social and economic development of human societies at large.

Under the rule of the current economic order, social injustice is ever-increasing. Issues such as poverty, inhumane working conditions, inadequate wages, social insecurity and an unhealthy labor market continue to persist. Many states are also unable to produce policies capable of resolving these problems. The characteristics of the capitalist system currently render it unable to provide social justice. In fact, on the contrary, the system reinforces these injustices and prevents economic and social welfare from reaching the masses. Many Muslim scholars have analyzed and, indeed, criticized this system for years. This book argues that an alternative and more equitable theoretical and practical economical order can been developed within the framework of Islamic principles. On the other hand, the experiences of societies under the rule of Muslim governments do not always seem to hold great promise for an alternative understanding of social justice. In addition, the behaviors of Muslim individuals within their economic lives are mostly shaped by the necessities of daily economic conditions rather than by the tenets of Islam that stand with social justice. Until 1990s, studies of Islamic economics made connections between finance and the notion of social justice, but work conducted more recently has neglected this issue. It is therefore evident that the topic of social justice needs to be revisited in a more in-depth manner. Filling an important gap in existing literature, the book uniquely connects social justice and Islamic finance and economics on this topic. Theory, practice and key issues are presented simultaneously throughout this book, which is based on the writings of a number of eminent scholars.

The current dynamics of world economy show remarkable changes in the socio-economics of credit provision and entrepreneurship. If the emergence of the sharing economy is fostering innovative models of collaborative agency, networking and venture business, economic actors are also looking for a more sustainable development, able to foster profitability as well as community welfare. This book investigates Islamic social finance as a paramount example of this economy under change, where the balance between economic efficiency and social impact is contributing to the transformation of the market from an exchange- to a community-oriented institution. The collected essays analyse the social dimension of entrepreneurship from an Islamic perspective, highlighting the extent to which the rationales of "sharing," distribution and cooperation, affect the conceptualization of the market in Islam as a place of "shared prosperity." Moving from the conceptual "roots" of this paradigm to its operative "branches," the contributing authors also connect the most recent trends in the financial market to Shari‘ah-based strategies for community welfare, hence exploring the applications of Islamic social finance from the sharing economy, FinTech and crowdfunding to microcredit, waqf, zakat, sukuk and green investments. An illuminating reference for researchers, practitioners and policy-makers dealing with the challenges of a global market where not only is diversity being perceived as a value to be fostered, but also as an important opportunity for a more inclusive economy for everybody.

In any field—whether scientific, business, or social—ethics plays a critical role in determining what is acceptable in a particular community and what is considered taboo. The source of these preconditions is often a complex interweaving of tradition and rational thought. Socio-Cybernetic Study of God and the World-System investigates morality in a socio-scientific worldview, examining the epistemology of existence in conjunction with Islamic monotheistic law to generate a world-system that governs action and reaction in the context of a variety of cognitive and social environments. Readers with backgrounds in finance and economics can utilize this book to construct a more thorough theoretical understanding of their societal and professional associations.

This book explores how, through spirituality and the development of character, Islamic financial institutions and Muslim communities can integrate their businesses with contemporary social responsibility initiatives to produce positive social and environmental impact. From the looming environmental crisis to the divide between mainstream and extremist interpretations of Islam, the book addresses significant questions facing Muslim communities – and humanity – and demonstrates why Islam should sit ‘at the table’ with other faiths and ethical traditions discussing humanity’s great obstacles. Unlike existing literature, this work explores the intersections between classical Islamic ethics and spirituality, contemporary Islamic finance and economic markets, and select sustainability and impact initiatives (such as the Equator Principles and UN Principles of Responsible Investment) designed to make the worlds of business and finance responsible for the environments in which they operate and the communities that support them. Drawing on his years of experience in Islamic banking, Moghul addresses these applications in light of real-world practices and dilemmas, demonstrating how Islamic organizations and Muslim communities should embrace the broad range of stakeholders countenanced by the Shari’ah in conversations that affect them. By situating his exploration of Islamic finance in the light of the much larger critical issues of balance, justice, and moderation in Islamic praxis, Moghul creates an interdisciplinary book that will appeal to academics and researchers in economics, finance, business, government and policy, and law.

The SDGs, developed by the UN in 2012, focuses on 17 goals for the betterment of humanity and humanitarian causes. Among the core objectives of Shari'ah in Islamic finance is to offer a helping hand, emphasizing the efforts and scope of the SDGs. This book explores how Islamic ethical wealth is structured to contribute to the SDGs and an overall socio-economic impact within the principles of Maqasid al-Shari’ah. Focusing areas such as Islamic micro-finance, wealth inclusion, corporate and agro-Zakat, Awqaf, SRI Sukuk, and green Sukuk, this book will feature contributions from the leading researchers in sustainability and Islamic finance and will be of interest to scholars, researchers, industrialists, NGOs, UNDP and students studying both areas.