Nabil Maghrebi is an Associate Professor of Finance at the faculty of Economics, Wakayama University, Japan. He has undertaken postgraduate studies at Osaka University, Japan, from which he received a Ph.D. in Finance and where he also worked as Teaching Associate. His publications address issues in equity, options, and futures markets. He has contributed articles at The Japanese Economic Review and Advances in Pacific Basin Financial Markets. His research interests also include Islamic perspectives on finance and issues in the Islamization of knowledge.
Abstract of paper given at Islam
and Ecology conference:
Nabil Maghrebi and Ronaldo A. Potmis
Traditionally defined as the optimal management of resources, modern economic practices tend to contribute rather to their gradual exhaustion. Monetary delirium nourished by unconcerned maximization of wealth promotes a culture that associates consumption with indebtedness and investment with financial distress. The unstable monetary system and the misuses of financial technology are also conducive to the depletion or misallocation of real resources. Underlying financial principles and practices ranging from wealth non-satiation to usury legitimization should thus be given much thought and reflection. An Islamic-financial perspective can throw light on the fundamental relationship between environmental risks and financial returns and the inherent conflicts and compromises.