Language
English
English
Degree
M.Sc
Select type of work
CIS Program Old
CIS publications
No
CIS Thesis
Yes
Student Name
Jumat, Zul Hakim
Year of Graduation
2018
QF Thematic Areas
CIS Program
Abstract
| Empowerment of investors in making the right decisions can discipline financial markets and put companies and, hence, economies on the 'right' track. This 'right' track seeks to promote shared prosperity, ensure environmental balance and achieve overall well-being. Over the last few decades, these value-driven investment considerations have been emphasised within the framework of Socially Responsible Investment (SRI) screening strategies. During the same period, similar endeavours are resonated by Islamic investment (Shariʿah) screening framework that is based on the permissibility (ḥalal) paradigm. Moreover, under the umbrella of the United Nations, the global initiative such as Responsible Investment Principles (PRIs), Global Compact Principles (GCPs) and Sustainable Development Goals (SDGs), further strengthen the ethical premise of Shariʿah investment and SRI. With these considerations of the shared interests, in the present research, we try to study the potential expansion of Shariʿah-compliance framework beyond the permissibility (ḥalal) paradigm to encompass the broader objectives of Islamic legislation (Maqaṣid al-Shariʿah). This study is done by analysing the similarities and differences between the rather constricted (permissibility paradigm) Shariʿah investment screening and the broader SRI screening framework Finally, the research concludes with proposing two new modified Shariʿah screening frameworks. We hope that these two frameworks will be instrumental in integrating local aspirations, national policy objectives and global goals. We also hope that the findings and the proposed modified models may promote further discussion, research and product development in the coming future. |
CIS Research Foci