Chapter

Jordan: A Case Study of the Relationship between Islamic Finance and Islamist Politics

Mohammed Malley

in The Politics of Islamic Finance

Published by Edinburgh University Press

Published in print February 2004 | ISBN: 9780748618361
Published online March 2012 | e-ISBN: 9780748653089 | DOI: http://dx.doi.org/10.3366/edinburgh/9780748618361.003.0009
Jordan: A Case Study of the Relationship between Islamic Finance and Islamist Politics

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Political Islamists contend that Islam is a complete way of life, encompassing rules and regulations, not only for spiritual and moral uplift, but also for establishing and maintaining political, economic, social and other systems. This was the first of twenty basic principles that Hassan Al-Banna, the founder of the Muslim Brotherhood, stated in a treatise he wrote to explain the understanding of Islam held by his movement. Al-Banna believed that the main role of his movement, and of Islamists in general, was to re-establish those aspects of the comprehensive Islamic religion which had been lost or destroyed before, during or after the colonial era. The establishment of Islamic banks in the second half of the twentieth century could be seen as a practical application of the ideological view that Islam contained within it an alternative means of running economic and financial affairs. The ties between Islamic banks and Islamic movements have not, however, been as strong as might be expected. This chapter examines the role played by the Islamists in the early history of the Jordan Islamic Bank (JIB), as well as the ongoing relationship and kinds of interaction between Islamists and both the JIB and the Arabic Islamic Bank. It also discusses the economic agenda of the Islamic Action Front Party, including the economic agenda of Islamist activists in professional organisations and other aspects of civil society.

Keywords: Political Islamists; Islam; Jordan Islamic Bank; Arabic Islamic Bank; Islamic Action Front; Islamist activists

Chapter.  11765 words. 

Subjects: Society and Culture

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