SOAS, University of London

Islamic Banking was founded on higher objectives based on social justice: namely to develop financial intermediation based on risk-sharing for socially responsible economic activities. From an Islamic worldview money is a sterile asset. Its sole economic purpose is to serve as a medium of exchange. Whilst one can lease a land out on rent, one can’t lease out money on interest. From Aristotle to St. Thomas Aquinas the narrative on interest was unequivocal.

In 2018, participants chose the topic of “Challenging the Shari’ah Compliance of Islamic Finance Products”. As in previous years, the workshop is preceded by the submission of written commentaries on the topic.

In the Qur'an it is stated categorically that it is God who created the human being and more specifically, his soul (nafs) and, in addition, that this very same soul may be subject to either purification (tazkiya) or defilement (tadsiya), as Q.