In the Name of God: managing risk in Islamic finance

Cattelan, Valentino (2022) In the Name of God: managing risk in Islamic finance. Ianus, 26 (16). pp. 149-164. ISSN 1974-9805

Preview

Text Cattelan_IANUS 2022_In the Name of God_pp149-164.pdf - Published Version Download (620kB)

Abstract

In Against the gods: the remarkable story of risk (1996), Peter L. Bernstein illustrates how the mastery of risk has driven modern Western society into converting «the future from an enemy into an opportunity», where risk is quantified, measured, and managed to mitigate the perils of the unexpected, and where risk-taking, -transfer and -pooling have become per se sources of legitimate profit. Commenting on Bernstein’s work while moving from the Western ‘risk’ to the Arabic رزق rizq, ‘(God’s) sustenance’, this article looks at human hazard, زهر zahr, the ‘dice’ of future chances, through a comparative and inter-cultural perspective. More precisely, it aims to show how specific anthropological assumptions result in an alternative theory and practice of risk management in a market whose peculiarity is to operate not ‘against’ but ‘in the Name of God’: namely, the market of Islamic finance.

Item Type:	Article
Dates:	Date Event 14 September 2022 Accepted 12 December 2022 Published Online
Subjects:	CAH00 - multidisciplinary > CAH00-00 - multidisciplinary > CAH00-00-00 - multidisciplinary CAH15 - social sciences > CAH15-01 - sociology, social policy and anthropology > CAH15-01-04 - anthropology CAH15 - social sciences > CAH15-01 - sociology, social policy and anthropology > CAH15-01-06 - cultural studies CAH15 - social sciences > CAH15-02 - economics > CAH15-02-01 - economics CAH16 - law > CAH16-01 - law > CAH16-01-01 - law CAH17 - business and management > CAH17-01 - business and management > CAH17-01-07 - finance
Divisions:	Faculty of Business, Law and Social Sciences > College of Law, Social and Criminal Justice
Depositing User:	Valentino Cattelan
Date Deposited:	31 Aug 2023 14:11
Last Modified:	31 Aug 2023 14:11
URI:	https://www.open-access.bcu.ac.uk/id/eprint/14719

Actions (login required)

View Item