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Pope Francis and Islamic finance

Pope Francis and Islamic finance

Next week, Pope Francis is expected to arrive in Washington, D.C., to kick off his first visit to the United States, giving an anticipated 18 speeches. Although we don’t yet know the content of those talks, it shouldn’t surprise anyone if, when talking about social justice from his own faith perspective, he describes the basics of Islamic finance. With his focus on justice and human dignity, Pope Francis has beautifully articulated the values of his faith as well as the aims and purposes of Islamic finance — namely social justice, ethical trade, and ultimately the glorification of God through service to creation. Pope Francis has made poverty and economic justice central themes of his papacy. More courageous in this than many people in positions of influence, the pope has railed against economic injustice, even linking environmentalism to this issue. In his recent encyclical on the environment, he said: “e have to realize that a true ecological approach always becomes a social approach; it must integrate questions of justice in debates on the environment, so as to hear both the cry of the earth and the cry of the poor.” That letter also drew inspiration from a Muslim thinker, a nod

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Azzad welcomes pope’s encyclical on the environment, social justice

(Falls Church, Va., 6/18/15) — Azzad Asset Management today welcomed Pope Francis’ encyclical calling for swift worldwide action to combat climate change, protect the environment, and move toward economic equality. In the encyclical released today, Laudato Si, the pope issues “an urgent invitation” to people of all faiths to reduce their consumption of resources and make changes in their daily lives in order to safeguard the earth for future generations. He calls for sweeping government and economic reforms to counter environmental destruction and economic injustice. In a statement, Azzad said: “Pope Francis has been a tireless advocate for social justice, reaffirming the Catholic ethic of caring for ‘the least among us’ and challenging people of all beliefs to answer the universal call to serve humanity and protect the earth we share. Azzad Asset Management applauds the pope for making the moral case for action on sustainability and encourages our fellow Muslims to contemplate the Qur’anic reminder to ‘tread lightly on the earth’ (31:18) as we endeavor to maintain justice and environmental stewardship as organizing principles in our financial affairs.” In previous comments on social justice issues, Pope Francis has warned against government corruption, economic imbalance, and the exploitation of the

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Interfaith Center on Corporate Responsibility welcomes 1st Islamic financial firm to its shareholder coalition

(New York, NY, 4/9/15) – Representatives from the Interfaith Center on Corporate Responsibility (ICCR) and Azzad Asset Management announced today that Azzad will join ICCR as its newest member—the first Islamic firm to be affiliated with the group. As the premier member organization focused on corporate social responsibility and environmental advocacy, ICCR leverages the influence of its shareowner members to enact change. Azzad’s addition to the growing list of members is a testament to ICCR’s universal appeal for collective action on issues of importance to people of all faiths. The two organizations expressed optimism about the opportunities this collaboration affords. In a statement, ICCR Executive Director Laura Berry said: We are delighted to announce that Azzad Asset Management has joined the Interfaith Center on Corporate Responsibility (ICCR). For more than forty years, ICCR has been a faithful voice for justice, engaging in shareowner advocacy with the goal of encouraging greater corporate responsibility on a host of social and environmental concerns. ICCR members include religious organizations, universities, unions, banks, foundations, asset management companies and other institutional investors who believe companies with more just and sustainable operations are more profitable over the long term. We are pleased to count Azzad Asset Management

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