Islam, Economics and a Blueprint for Sustainable Development

Islamic economic thought is heavily based on the concepts of fairness and justice. Trade is encouraged- but only within the guidelines of the Shariah (Islamic law). As a result, the Islamic economic system is largely value-driven and fits within the principles of sustainability. A key Islamic principle concerns how “everything belongs to God, and wealth is held by people in trust”. [1] This means that human beings have a God-given duty to care for the Earth. In turn, this links with the idea of Khilafa (stewardship).  The Holy Qur’an states, “Corruption has appeared in the land and the sea on … Continue reading

Rethinking Sustainability: Islamic Perspectives

The 21st century is characterized by a number of global environmental challenges that shaped and defined the discourse and agenda of the West with respect to the developing world, specifically the Islamic world. Islam provides new sustainability perspectives for discovering and explaining the root causes for the current environmental, economic and social crises as manifested in climate change, HIV, poverty and human security. For example, the Islamic perspective on climate change is that the root cause of this global issue is the absence or lack of human stewardship and is an indication of market failures. Pitfalls of the Western Model … Continue reading