Islamic Finance as an Ethical and Responsible Finance

In an era of recurring financial crises, rising inequality, and environmental stress, Islamic Finance as an Ethical and Responsible Finance by Professor Dr. Muhammad Ayub offers a transformative vision for global finance. It critiques the excesses of interest-based, speculative, and profit-driven systems and advocates a shift toward finance rooted in justice, equity, risk-sharing, and sustainability.

Grounded in the prohibitions of ribā (interest), gharar (contractual uncertainty), and maysir (gambling), and supported by the social institutions of zakāt and waqf, this work shows how asset-backed and transparent financing can align with the UN SDGs. Blending rigorous theory with practical insights, it positions Islamic ethical finance as a universal model for advancing shared prosperity and promoting moral and social good. This work is an essential resource for academics, policymakers, and practitioners committed to building a just and sustainable financial order.

Emerald Studies in Islamic Economy and Finance (ESIEF) is a groundbreaking series published by Emerald Publishing dedicated to advancing the knowledge and understanding of Islamic economics and finance. In an era where the global economic landscape is constantly evolving, this series seeks to contribute significantly to the academic discourse surrounding Islamic economy and finance. It builds on the rich heritage of Islamic economic thought while embracing contemporary perspectives and challenges. The series is also committed to fostering rigorous academic inquiry promoting scholarly collaboration and ultimately enriching the understanding of Islamic economics and finance in the global context.

Dr. Muhammad Ayub, Full Professor of Islamic Finance at Riphah International University, Pakistan, and Founding Editor of the Journal of Islamic Business & Management, brings decades of central banking, regulatory, and training experience. His work bridges classical Islamic contracts with modern tools like ṣukūk and fintech to foster inclusive growth, reduce poverty, and build climate resilience.