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dc.contributor.authorAbedifar, Pejman
dc.identifier.citationAbedifar , P 2019 , ' Lending, the poor, and Islamic scripture : Islamic finance versus welfare Islam ' , Journal of the American Academy of Religion , vol. 87 , no. 2 , pp. 460-482 .
dc.identifier.otherPURE: 259006873
dc.identifier.otherPURE UUID: 55cd3884-6526-41d4-8bce-7b56b123d246
dc.identifier.otherScopus: 85068522495
dc.identifier.otherORCID: /0000-0002-7648-7201/work/64361306
dc.identifier.otherWOS: 000481428100006
dc.description.abstractThis paper contributes to Islamic studies literature by exploring why many Islamic scholars believe that Islam bans conventional lending and mandates Islamic finance, and how the scriptural injunction against ribā is redefined when we consider the features of modern economic systems. The article advocates the view that ribā and charity are inextricably linked and must therefore be considered together. The latter emphasizes helping the poor and the former prevents exploiting them. Islamic finance, however, has been incepted by juxtaposing trade with lending. The study also discusses the fallacies raised by many Islamic scholars against conventional lending. This manuscript demonstrates the necessity of modernizing our religious understanding to accelerate poverty reduction in the Muslim world.
dc.relation.ispartofJournal of the American Academy of Religionen
dc.rightsCopyright © 2019, Oxford University Press. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at
dc.subjectIslamic financeen
dc.subjectEconomics of religionen
dc.subjectHG Financeen
dc.subjectHB Economic Theoryen
dc.subjectSDG 1 - No Povertyen
dc.titleLending, the poor, and Islamic scripture : Islamic finance versus welfare Islamen
dc.typeJournal articleen
dc.contributor.institutionUniversity of St Andrews. School of Managementen
dc.contributor.institutionUniversity of St Andrews. Centre for Responsible Banking and Financeen
dc.description.statusPeer revieweden

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