Ethics and banking a growing industry

Western ethical investing and Islamic banking, both value-oriented financial movements, gained popularity ten years ago due to disillusionment with the prevailing capitalist and communist systems. The number of ethical investment organizations has increased in the West. Simultaneously, Islamic banking has been established both in the Muslim world and in other countries. Such banking is based on Islamic ethics and prohibits investment in unlawful activities. Islamic banking not only avoids interest but is also designed to further the socioeconomic objectives of Islam. Societal welfare is a primary concern. A Muslim society should aim to create a situation in which people gain employment based on their abilities.