Religion and the Global Money Markets: Exploring the Influence of Christianity, Islam, Judaism and Hinduism

The book explores how religion is shaping the ethos and actions of market participants in global money markets, with Christianity, Islam, Judaism, and Hinduism having a significant impact. Islamic finance has led to the introduction of sharia-compliant derivatives, while Christian investment funds are leading ethical initiatives and Jewish faith-led funds are making strides with impact investments. Hindu economics is also beginning to shape the actions of some market participants.

Format: Paperback / softback
Length: 464 pages
Publication date: 20 August 2023
Publisher: Springer International Publishing AG

This book explores the profound impact of religion, particularly Christianity, Islam, Judaism, and, to a lesser extent, Hinduism, on the ethos and daily actions of market participants within the global money markets. The concepts inherent within these religions are making themselves felt in various ways, shaping the way market participants approach their investments and financial decisions.

One notable example is the introduction of sharia-compliant derivatives, which has been driven by Islamic finance. These derivatives have opened up new opportunities for investors who adhere to Islamic principles, allowing them to participate in the financial markets while remaining consistent with their religious beliefs. In response, Christian investment funds have also emerged, leading ethical initiatives on Wall Street, the City of London, and other financial centers. These funds are divesting from fossil fuels in response to the climate change emergency, aligning their investments with their values of environmental sustainability.

Similarly, Jewish faith-led funds are making significant strides with the further development of impact investments. These investments aim to generate both financial returns and positive social and environmental outcomes, aligning with the principles of tzedakah, or charitable giving, in Jewish tradition. The concept of Hindu economics is also beginning to shape the actions of some market participants, who are tied to the ideals of Mahatma Gandhi. These individuals are seeking to promote economic development that is sustainable, equitable, and socially responsible, reflecting the values of Hinduism.

Overall, the book highlights how religion is playing a significant role in shaping the ethical and sustainable practices of market participants in the global money markets. It demonstrates how these religious principles are influencing investment decisions, corporate social responsibility initiatives, and the broader economic landscape. As the world becomes increasingly interconnected, it is important to understand the role that religion plays in shaping the global financial system and to work towards creating a more inclusive and sustainable financial future.

Dimension: 210 x 148 (mm)
ISBN-13: 9783031044182
Edition number: 1st ed. 2022