Читать книгу Risk Management for Islamic Banks - Imam Wahyudi - Страница 9

Islamic finance is an integrated social, economic, and financial system based on a set of principles that brings a positive motive for economic activity, balanced between material and spiritual needs and between personal and societal interest. Among those principles are balance between work and reward, equal treatment of humans, responsibility over self and society, fairness in scale and measurements, the principle of coexistence, prioritization of the interest of other people and society over one's self-interest, and freedom of conscience.

The initial purpose of the modern financial industry's intermediation is to assist the economy and from it the distribution of resource within society. But then, this purpose encounters obstacles in the form of “bourgeois appetites,” democratic politeness, and individual work ethic. These three forces cause humans, as economic agents, to never be satisfied with the resources that they already own, and propel the mechanism of financial manipulation to create “high-powered money,” ending in excessive risk-taking behavior. The combination of these three powers supports the idea of individual freedom and achievement, but abandons the idea of the economic agent's part in social responsibility. Islam recognizes the three powers as nafs, a catalyst for economic activity and the progress of civilization that can only aid in achieving prosperity when coupled with institutional reform and a mechanism to check the morality of the actions of humans in its execution. Islamic financial institutions arise as entities that are trusted to have a strategic function for institutional reform in the direction of prosperity as well as priority in the real sector, complemented with an ethical oversight mechanism through syari'ah principles that grounds operations and transaction activity.