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April 6th 2011

Islamic finance and the Public Good

islamic finance

In March, Ann Pettifor was honoured to be invited by Ms Zarinah Anwar CEO of the Securities and Exchange Commission of Malaysia, and Dr Farhan Nizami of the Oxford Centre for Islamic Studies to attend a conference at Ditchley Park on “Shariah, Finance and the Public Good”.

But before the hard work of deliberation, delegates attended a splendid dinner at the Banqueting House, Whitehall, where they were welcomed by His Royal Highness, Dr Raja Nazrin Shah, Crown Prince of Perak, Malaysia.

In an opening address HRH asked the group to consider whether transfers of ‘artificial wealth’ served the public good; and whether Islamic finance could be distinguished from conventional finance? Prince Nazrin Shah suggested that trust in financial services has all but evaporated, and that such trust would not be restored until finance could demonstrate its concern with the public good. Continue Reading

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