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