This article examines the challenges faced by Muslim entrepreneurs in Norway, due to the lack of Islamically compliant financing. By setting out a case study of a small-scale liquidity crisis, the article identifies the operating difficulties inherent in trying to avoid interest-based credit. The article moves the conversation from overarching discussions of large-scale financing to the needs for functional financing options for everyday running costs of business. By using an analytical approach of concentric moral economic spheres, the article shows how Islamic and Norwegian moral economy interact through the actions of one entrepreneur. The article further sets out how different scales of decision-making must be analytically separated as the frames and options available to the actors differ significantly, and this may impact on the religious and moral permissibility of certain actions. As such, the article seeks to document the everyday moral hazards of Muslim entrepreneurs in Norway. The article makes a case for the importance of business culture sensitivity, contractual design within the Norwegian Muslim business community, and highlights the need for alternative methods of financing beyond the main questions of mortgages and large-scale business loans.
Photo by Levent Simsek