Turnitin Artikel Good Finance Integration of Ethics and Shariah in Islamic Finance

Islamic Financial industry is moving towards the global integration.
There is a considerable acceptance of Islamic financial practices across
the globe. Islamic finance is viewed positively as an attractive financial
system that could be adopted in modern context. One of the reasons for
this acceptance could be due to its ethical promises. Islamic finance is
perceived as an ethical based finance that is operating with a set of good
ethics in financial dealings. With that ethical back up as the underlying
principles in financial activities, there is wide expectation that it could
offer a different perspective and approach in finance and a coherent
perspective for understanding real economic problems faced by human
being and hence could elegantly solve the crisis as regularly faced in
the conventional financial system. Islamic finance is developed with
the aim of capturing the moral high ground of banking and financial
practices in an increasingly volatile world by offering a financial
philosophy based on the triumph of ethics and dealing with customers in
a more humanistic approach for the betterment of society. In this regard,
the moral mastery is not only expected to be the hallmark of Islamic
financial professionalism, but it is also desired to be naturally integrated
in the system and its practitioners. Islamic finance aims to achieve a fair
wealth circulation in society, fair and transparent financial dealings and
justice in micro and macro dimension. The paper attempts to discuss the
concept of ethics in Islamic finance, its basis, principles and objectives
in the contemporary world.