IDEAS home Printed from https://ideas.repec.org/h/pal/psibcp/978-3-319-66390-6_7.html
   My bibliography  Save this book chapter

Ethical and Responsible Finance for Development

In: Ethical Dimensions of Islamic Finance

Author

Listed:
  • Zamir Iqbal

    (Islamic Development Bank)

  • Abbas Mirakhor

    (INCEIF)

Abstract

Growing disparity in income distribution despite healthy growth and deteriorating opportunities for lower segments of the society has raised awareness of the importance of ethical and responsible finance for sustainable development. Whereas ethical finance calls for fundamental change in the prevailing thinking of approaches in development, responsible finance asks for how financial services should be delivered to live up to the challenge of promoting sustainable development such that the work must incorporate social, developmental, and environmental dimensions. In other words, how the financial sector could be made responsible for the fair treatment of end-clients and in ways that protect clients’ social and economic welfare. Ethical and responsible finance could play an important role in economic development, poverty reduction, and sharing of prosperity. Generally, when financial systems are more responsible and equitable in allocating resources among all members of the population in a way that does not create economic imbalances, there is greater equity of opportunity for entrepreneurship, education, and quality of life.

Suggested Citation

  • Zamir Iqbal & Abbas Mirakhor, 2017. "Ethical and Responsible Finance for Development," Palgrave Studies in Islamic Banking, Finance and Economics, in: Ethical Dimensions of Islamic Finance, chapter 0, pages 163-187, Palgrave Macmillan.
  • Handle: RePEc:pal:psibcp:978-3-319-66390-6_7
    DOI: 10.1007/978-3-319-66390-6_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:psibcp:978-3-319-66390-6_7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.