In the wake of the recent global financial crisis, we are witnessing expanding socially and ethically conscious business initiatives. The rise of Islamic banking and finance, a rapidly growing subset of these initiatives, raises interesting questions regarding the ethical dimensions of financial market activities. This course will consider Islamic ethics, spirituality, and jurisprudence and their application to business. In particular, we will study stakeholder theory, concepts of sustainability, environmental consciousness and animal welfare, food and labor. Further, we will examine contemporary Islamic finance, particularly home finance in the U.S., the landmark Dow Jones Islamic Market Indexes Fatwa, and the waqf. Finally, we will explore debates of form and substance and maslahah (welfare), among other jurisprudential issues, within the context of contemporary Islamic finance.
If you are not enrolled in a degree program but wish to register for this course, use the Online Registration for Special Students and Auditors.