“Is it Really Islamic?” Evaluating the “Islam” in Islamic Banking in Amman, Jordan

Abstract

Purpose

This paper uses the case of Islamic banking in Amman, Jordan, to assess the wide moral range of expectations, levels of satisfaction, and means of evaluating banks’ “Islamicness.”

Design/methodology/approach

The information is gathered from interviews conducted during over 21 months of ethnographic research and one month in participant observation and research access as an intern at the Middle East Islamic Bank (MEIB) in Amman, Jordan.

Findings

I found three modes for evaluating “Islamicness” when actors decide whether or not to become customers of Islamic banks.

Research implications

These modes demonstrate that Islamic banking is no longer the cultural protectionism of a relatively homogeneous community of Muslims. Rather it is a fraught and tense field for actors’ debates about types of moralities in the markets and modes of moral assessments of “Islamicness.”

Originality/value

The amplification of the individual and individual choice and authority in the moral assessments of Islamic banking may ultimately serve to unseat prior dichotomous theoretical framings of morality’s presence or absence as “Islamic” or “not Islamic” and “good” and “bad.” By unleashing to individuals the construction of morality in the markets, moral rights and wrongs, and moral evaluations, fragmentation of moral consensus in market practices will occur.

Citation

Tobin, S.A. (2014), "“Is it Really Islamic?” Evaluating the “Islam” in Islamic Banking in Amman, Jordan", Production, Consumption, Business and the Economy: Structural Ideals and Moral Realities (Research in Economic Anthropology, Vol. 34), Emerald Group Publishing Limited, Leeds, pp. 127-156. https://doi.org/10.1108/S0190-128120140000034004