TAREK EL DIWANY: On 23 October 2013 Public Spirit hosted a debate on: ‘Can public faith help rebuild the link between morality and markets?’ In this response, Tarek El Diwany highlights the need to challenge the ‘MBA consensus’ that shapes the financial sector, and suggests Islamic finance offers a starting point for making change.
LIZ CARNELLEY: In 2013 Public Spirit hosted a debate on the question: ‘Can public faith help rebuild the link between morality and markets?’ In this response, Liz Carnelley of CUF argues that faith groups need to be more vocal about what they believe, and be more collaborative to challenge a ‘culture of acquisition’.
LUKE BRETHERTON: To be a lender and a borrower is to be situated within economic relations of inter-dependence, cooperation and mutual responsibility. But the modern financial sector refuses to recognize human inter-dependence, seeing societies as a crowd of competitive individuals with no real connection or common life.
ELAINE HOUSBY: The main targets of the British government’s attempts to attract Islamic funds are the extractive economies of the Gulf – which offer a narrow interpretation of Islam. Yet look beyond this and it is possible to find deeper principles in Islamic finance that overlap with the strong British tradition of mutualism.
SELINA STONE AND TOM CHIGBO: The Just Money Campaign builds on the actions taken by Citizens UK in the aftermath of the financial crash of 2008. In this essay from ‘God and the Moneylenders’, two community organisers involved in the campaign describe its recent activities and its potential for further impact.
PHILIP KRINKS: My vision for a Christian social enterprise which would offer the financially vulnerable a fair alternative to exploitative lenders.
SHENAZ BUNGLAWALA: The ninth WIEF tapped into the new breed of ‘halal consumers’, but will it help remoralise finance?
HUSNA AHMAD: My reasons for engaging in faith based social action, from a Muslim perspective.