Inequality, Concentration of Wealth and the Ownership Structure of Islamic Banks: Some Pertinent Issues

An important Islamic imperative is prevention of concentration of wealth among a few so that wealth circulates widely to enhance shared prosperity. In contemporary economic discourse inequality and concentration of wealth have emerged as among key causes of instability and crisis. Unfortunately, while Islamic finance has emerged as a Shari’ah-compliant industry, it does not seem to be connected with the Islamic concern about inequality and concentration of wealth. This research paper illuminates the pertinent issues in light of the experience of Bahrain as one of the hubs of Islamic banking and finance.