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Abrahamic Finance

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The Palgrave Encyclopedia of Islamic Finance and Economics

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Abstract

Abrahamic Finance is a financial term that encompasses the social, political, ethical, and economic dimensions of various monotheistic religions. It is rooted in the fundamental doctrines of these religions, which have gained significant prevalence in contemporary society. This entry examines the historical relationship between Abrahamic religions and financial transactions, focusing on the concept of theologically referenced regulations that aim to ensure ethical/moral supervision. Throughout history, Jewish temples, the Christian church, and the moral doctrines of Islam have incorporated guidelines pertaining to economic activities. Despite the prevailing influence of conventional finance within global markets, there has been a notable rise in the availability and utilization of Abrahamic finance investment instruments since the latter half of the twentieth century. The rise of Islamic Finance has led to a greater manifestation of Abrahamic values in financial practices, resulting in increased endeavors to promote ethical and socially responsible investments. The concept promotes partnership initiatives that are founded on the principles of profit/loss sharing, while opposing fixed-rate interest-based transactions. Additionally, it places significance on matters such as social responsibility, ethical investment, and risk management. The objective of Abrahamic Finance is to uphold moral norms and maintain social equilibrium within financial transactions. There has been a notable rise in the prevalence of Jewish-, Christian-, and Islamic-oriented investment funds and investments rooted in social and ethical principles across numerous nations globally.

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Authors and Affiliations

  1. Istanbul Institute for Advanced Studies, Istanbul University, Istanbul, Turkey

    Murat Ustaoğlu

Authors
  1. Murat Ustaoğlu
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Correspondence to Murat Ustaoğlu .

Editor information

Editors and Affiliations

  1. Istanbul Institute for Advanced Studies, Istanbul University, Fatih, Istanbul, Türkiye

    Murat Ustaoğlu

  2. Anadolu University, Odunpazarı, Türkiye

    Cenap Çakmak

Section Editor information

  1. Faculty of Economics, Istanbul University, Istanbul, Turkey

    Muhammet Sait Bozik

  2. Istanbul Institute for Advanced Studies, Istanbul, Türkiye

    Muhammet Sait Bozik

  3. Faculty of Economics, Istanbul University, Istanbul, Turkey

    Büşra Çil

  4. Istanbul Institute for Advanced Studies, Istanbul, Turkey

    Büşra Çil

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© 2024 The Author(s), under exclusive licence to Springer Nature Switzerland AG

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Ustaoğlu, M. (2024). Abrahamic Finance. In: Ustaoğlu, M., Çakmak, C. (eds) The Palgrave Encyclopedia of Islamic Finance and Economics. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-93703-4_323-1

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  • DOI: https://doi.org/10.1007/978-3-030-93703-4_323-1

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-030-93703-4

  • Online ISBN: 978-3-030-93703-4

  • eBook Packages: Springer Reference Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences

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