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To register for this lecture, please click here Alternatively, please contact: Ms Farida Rahman Email. [email protected]. +44 (0)20 7433 0840
About the Lecture
Islamic finance has often been promoted as inherently ethical and therefore aligned with responsible finance. However, this claim rings hollow once one examines the actual workings of Islamic financial institutions. The ethical content in their operations is very marginal and the claims look hollow.
This dichotomy between image and reality will become even more glaring once we start to look at the emerging Sustainable Development paradigm. Serious thought needs to be given to the operations of the Islamic financial institutions if they are to champion the UN Sustainable Development Goals (SDGs).
It is often argued that the SDGs can be seen as mirror images of the Maqasid al Shariah (The fundamental Objectives of the Shariah) and as such should form the very heart of the operations of the Islamic financial institutions.
The lecture is designed to investigate the challenges in actually mapping the SDGs to Maqasid al Shariah. The kind of changes needed in the structure of the Islamic Financial Institutions to achieve this mapping will also be explored.
It is hoped to provide an initial framework for this important debate to begin in earnest. Without this the claim of Islamic Finance to offer a n alternative paradigm which is socially and environmentally responsible will continue to ring hollow.
About the Speaker
Mohamed Iqbal Asaria teaches post graduate courses in Islamic Finance, Banking and Insurance at several leading universities including CASS Business School, CASS Executive MBA program in Dubai, Aston Business School and Bangor Business School. He is a Fellow of the Chartered Association of Certified Accountants and a graduate of the Victoria University of Manchester where he also completed his masters in Economics (Accounting & Finance). For the last eight years Iqbal has been the convenor of the annual International Takaful Summit and is a leading thought leader in the Takaful industry.
As an Associate at Afkar Consulting Iqbal Asaria has advised several financial institutions in the UK and overseas on Islamic financial services. Since 2005, he has been Special Advisor on Business & Economic Affairs to the Secretary General of the Muslim Council of Britain. He was a member of the working party set up by the Governor of The Bank of England to look into issues relating to the introduction of Islamic financial products in the UK. He was awarded the CBE in the 2005 Queen’s honours list in the United Kingdom for services to international development.
Our common future: Sustainable Development andMaqasid Al Shari’ah – A Synthesis
Date: Wednesday, 17th May 2017 Time: 6.15pm
Speaker:Mohamed Iqbal AsariaVisiting Faculty in Islamic Finance, CASS Business School, London
www.islamic-banking.com
Help ye one another in righteousness and piety
The Holy Qu’ran 5:2
Register forthis lecture
Venue:British Bankers Association (BBA)Pinner Hall 105-108 Old Broad Street, London, SE1 2AF (MAP)
