A Treatise on Christian Banking
Imprint: Wipf and Stock
318 Pages, 7.00 x 10.00 x 0.64 in
- Published: August 2022
- Published: August 2022
From a moral perspective, all banking practice and theory can be seen as value driven. Therefore, there will be no such thing as value-neutral banking activities, and the application of Christian ethical and pastoral principles adds insights to the field of banking for all its involved stakeholders. This book contributes to the specific scientific discourse of practical theology, as this typically appears within the subfields of ethics and pastoral studies. Christian ethics and pastoral principles as applied in banking make up a largely neglected area in the wider academic discourse found within practical theology, and the research presented in this book contributes new knowledge to the field, with particular emphasis on banking practice. It is expected that the theories presented herein will be of interest for other scholars, not only within the realm of practical theology, but also in a cross-domain perspective where scholars in a broad field of disciplines may find the research and academic positions of interest. Such academic fields would include economics, finance, business administration, sociology, history, anthropology, and perhaps more. This expectation may not least be derived from the increasing focus on Corporate Social Responsibility (CSR), as this has emerged over the last decades within the wider business realm in general, whence the world of banking has followed suit. Alongside this development, an emergence of Islamic banking has been seen, which has showed substantial growth and success.
“Since the 2008 financial crisis, hard questions have been asked about banking regulation, ‘too-big-to-fail’ bailouts, and prudent risk-taking by banks and other financial and investment institutions. In the meantime, there has been a significant rise in ‘investment for impact,’ where financial decisions are made on the basis of exclusion and inclusion in building a portfolio. With a rising awareness of the ecological crisis, more and more pressure is being exerted on banks to stop funding fossil-fuel projects and rather invest in sustainable energy sources. Islamic banking has grown in both assets and trust, based on the fundamental religious rules governing investments. The real issue is one of underlying values that shape the paradigm of business, exceeding a narrow shareholder approach to include all relevant stakeholders, including the natural environment. The principles contained in the United Nations Global Compact illustrate the search for meaningful precepts. This book provides an interesting historical overview and infers contemporary guidelines emerging from the long and rich tradition of Judeo-Christian thought on matters of economics and money. There is no doubt that this is an important and topical issue not only for those who accept the convictions of the Christian faith, but also for secularists interested in improving the key financial industry. Very few authors are as well-positioned through experience and inter-disciplinary education as this one to make such a distinct contribution to the topic of the link between the ethical norms of Christianity and the world of banking, investment and finance.”
—Prof. Piet Naudé, University of Stellenbosch Business School, Faculty of Economic and Management Sciences, Stellenbosch University, Stellenbosch, South Africa