This book argues that focusing on the green economy and green finance is essential to counteract the catastrophic, socio-economic effects of the COVID-19 pandemic. Further, while numerous research initiatives in the context of the green economy and/or finance have been observed in different parts of the world, to date, no comprehensive work has been published on the topic of green finance in relation to the discipline of Shari’ah. This timely book provides a comprehensive guide and offers practical solutions to the core issues of green finance within the principles of Maqasid al-Shari’ah.
It contends that Islamic green finance serves to promote global financial stability and mitigate the financial risks associated with climate change and environmental degradation: by integrating Islamic finance principles with sustainable and environmentally friendly practices; by encouraging ethical investments and prioritising long-term social and environmental benefits; and by redirecting capital towards sustainable projects and fostering a more sustainable and inclusive financial system. Islamic green finance’s emphasis on transparency, governance, risk-sharing, and responsible investing helps lessen systemic risks and supports the transition towards a more stable and sustainable global financial landscape. The book’s holistic approach to green finance in Maqasid al-Shari’ah aims to ensure that financial actions align with Islamic principles and help create a more sustainable and responsible economic system.
The book is a detailed reference, which sheds light on the pressing issues of our time. It encompasses various aspects of Islamic economics and serves as a guide to implementing green financing in accordance with Islamic principles and ethics, and as such, it will appeal to academics, researchers, students and policymakers alike.
Mohd Ma’Sum Billah is a Senior Professor of Finance at the Islamic Economics Institute, King Abdul Aziz University (KAU), Jeddah, Kingdom of Saudi Arabia.
Rusni Hassan is a Professor and Dean at the IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM), Selangor, Malaysia.Razali Haron is a Professor at the IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM), Selangor, Malaysia.
Romzie Rosman is an Associate Professor at the IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM), Selangor, Malaysia.
Hjh Akhtarun Naba’ Billah is pursuing her LLB (Hons) at the Ahmad Ibrahim Kulliyyah of Laws (AIKOL), International Islamic University Malaysia (IIUM), Selangor, Malaysia.
