O ye who believe! Eat not up your property among yourselves in vanities: But let there be amongst you Traffic and trade by mutual good-will: Nor kill (or destroy) yourselves: for verily Allah hath been to you Most Merciful! (Quran, 4:29)
The Prophet Muhammad (PBUH) said,
“Those are your brothers [workers under you] who are around you, Allah has placed them under you. So, if anyone of you has someone under him, he should feed him out of what he himself eats, clothe him like what he himself puts on, and let him not so much burden on him that he is not able to bear, [and if that be the case], then lend your help to him.” (Bukhari, No: 2359)
Who we are:
The Islamic Finance and Ethics Society (IFES) is currently a London wide consortium consisting of student societies that serve as a platform for students, academics and business leaders to discuss the current and future practices of the global financial system from an Islamic ethical framework. With the United States of America still pulling itself out of the Subprime Mortgage Crisis of 2007, the Eurozone Crisis having yet to be resolved and the environmental crisis worsening; the IFES seeks to understand what solutions Islamic Finance and Ethics could provide to these issues and the development of the “Emerging Markets”.
Our website was launched in the summer of 2013 and we will commence monthly lectures throughout the academic year.
The mission of the Islamic Finance and Ethics Society is to:
facilitate discussion between students and academics in London with members of the business community regarding the current practices and future of the Islamic Finance industry.
The IFES intends to investigate what solutions Islamic finance can provide to the social, economic and environmental issues that have been created by the conventional financial system.
- Maqasid al Shariah – The Objectives of the Law
- Environmental rights
- Gambling and Alcohol addiction
- Sustainable urban development
- Social impacts of austerity measures
- Fiat currency
- Interest based lending
- Social benefits of Islamic Finance