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Islamic Spirituality: An Impetus to Responsibility and Impact

In: A Socially Responsible Islamic Finance

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  • Umar F. Moghul

Abstract

This chapter introduces the role of Islamic spiritual principles and methods in developing good character and ethical behavior. It highlights the mutually reinforcing relationship between worship and law, emphasizing that acts of worship and spiritual practice prepare and enable ethical conduct. This study posits that such principles and methods are additionally relevant as they constitute an impetus and a methodological framework to establish businesses and markets that support sustainability and social and environmental well-being. By embedding Islamic spirituality, the character of Islamic financial institutions is expected to transform positively to meet the primary challenge facing the industry, which is an ethical one.

Suggested Citation

  • Umar F. Moghul, 2017. "Islamic Spirituality: An Impetus to Responsibility and Impact," Palgrave Studies in Islamic Banking, Finance and Economics, in: A Socially Responsible Islamic Finance, chapter 0, pages 1-37, Palgrave Macmillan.
    • Handle: RePEc:pal:psibcp:978-3-319-48841-7_1
    DOI: 10.1007/978-3-319-48841-7_1
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