Islamic and Ethical Finance in the United Kingdom

This book examines a wide range of financial institutions in Britain which fall broadly within the ethical sector, considering the nature of their principles and practices, and how they relate to Islamic models and to Muslim communities. Islamic finance is routinely described as ethical: a beneficial association given that ‘ethical’ finance is one of the few financial sectors with a positive image and is a large and growing sector of the market. Yet the claim that “Islamic’ and "ethical’ are synonymous is only now being seriously examined, as is the claim that there exists a consistent and generally understood definition of "ethical’ practice. This guide includes case studies from retail banking, mutual associations such as building societies and credit unions, investment funds, high interest lenders and debt counselling, social enterprise, charities and the wider phenomenon of ethical consumerism.