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From the ontology of tawhid to Islamic social finance
| Content Provider | Scilit |
|---|---|
| Author | Choudhury, Masudul Alam Pratiwi, Ari Hossain, Mohammad Shahadat |
| Copyright Year | 2018 |
| Description | Book Name: Islamic Social Finance |
| Abstract | This chapter aims at conceptualizing the empirical development of Islamic social finance as an expression of the ontological law of unity (tawhid) of knowledge in Islam. To this objective, Part I of the chapter formulates the conceptual nature of the wellbeing function for socio-economic actors by its embedding of the moral and ethical learning variables signifying participatory organic unity between the variables. That is to say the organic unity of inter-variable causality is invoked as the underlying dynamics of evolutionary learning in the midst of organic unity of being and becoming of forms and inter-variable relations. In accordance with this epistemic approach, Part II translates the abstraction of the wellbeing function into its quantitative analysis by means of statistical data on the selected variables of Islamic profit-sharing and charitable financing. The Islamic law of unity of knowledge called tawhid overarches both Part I and Part II to explain the central role of participatory organic unity of being and becoming between the variables signifying the good things of life as the foundational mark of tawhidi unity of knowledge and its application. This chapter explains the substantive meaning of morality and ethics governing the universe in reference to the foundation of the unity (tawhid) of knowledge in Islam and outlines its consequent impact on the empirical dimension of Islamic social finance. The evaluation of wellbeing takes place in the interactive, integrative and evolutionary learning dimensions of knowledge, space and time. It goes through two stages of its evaluation. First, wellbeing is expressed as an abstraction that induces in its representative variables the parameter of unity of knowledge. The second stage is the quantitative empirical estimation and simulation of the abstract functional form of the wellbeing criterion. The chapter proves in substantive terms that the indispensable foundation of the Oneness of God explained by the primal ontology of the unity of monotheism and the world-system termed as tawhid in the Qur'an has not been coherently understood and applied by the promoters of Islamic economics and finance. This chapter aims at conceptualizing the empirical development of Islamic social finance as an expression of the ontological law of unity (tawhid) of knowledge in Islam. To this objective, Part I of the chapter formulates the conceptual nature of the wellbeing function for socio-economic actors by its embedding of the moral and ethical learning variables signifying participatory organic unity between the variables. That is to say the organic unity of inter-variable causality is invoked as the underlying dynamics of evolutionary learning in the midst of organic unity of being and becoming of forms and inter-variable relations. In accordance with this epistemic approach, Part II translates the abstraction of the wellbeing function into its quantitative analysis by means of statistical data on the selected variables of Islamic profit-sharing and charitable financing. The Islamic law of unity of knowledge called tawhid overarches both Part I and Part II to explain the central role of participatory organic unity of being and becoming between the variables signifying the good things of life as the foundational mark of tawhidi unity of knowledge and its application. This chapter explains the substantive meaning of morality and ethics governing the universe in reference to the foundation of the unity (tawhid) of knowledge in Islam and outlines its consequent impact on the empirical dimension of Islamic social finance. The evaluation of wellbeing takes place in the interactive, integrative and evolutionary learning dimensions of knowledge, space and time. It goes through two stages of its evaluation. First, wellbeing is expressed as an abstraction that induces in its representative variables the parameter of unity of knowledge. The second stage is the quantitative empirical estimation and simulation of the abstract functional form of the wellbeing criterion. The chapter proves in substantive terms that the indispensable foundation of the Oneness of God explained by the primal ontology of the unity of monotheism and the world-system termed as tawhid in the Qur'an has not been coherently understood and applied by the promoters of Islamic economics and finance. |
| Related Links | https://content.taylorfrancis.com/books/download?dac=C2016-0-21630-7&isbn=9781315272221&format=googlePreviewPdf |
| Ending Page | 34 |
| Page Count | 24 |
| Starting Page | 11 |
| DOI | 10.4324/9781315272221-2 |
| Language | English |
| Publisher | Informa UK Limited |
| Publisher Date | 2018-08-06 |
| Access Restriction | Open |
| Subject Keyword | Book Name: Islamic Social Finance Cultural Studies Function Islamic Variables Signifying Knowledge in Islam Morality Participatory Organic Unity Ethical |
| Content Type | Text |
| Resource Type | Chapter |
