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Rethinking Islamic Economics إعادة التفكير في الاقتصاد الإسلامي

Author

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  • Mansor Haji Ibrahim

    (Professor, International Centre of Education in Islamic Finance (INCEIF), Malaysia)

Abstract

The emergence of Islamic viewpoints on economic issues under the umbrella of Islamic economics has captivated much interest especially in its practical manifestation in Islamic banking and finance. In light of the failure of mainstream economics to address many pressing issues, and hence the need for alternative views, this paper offers assessments of Islamic economics whether (i) it is relevant to this need, (ii) it has progressed to the extent that it has been made to become relevant, and (iii) it is also in need of reform. While I argue that Islamic economics is relevant, it falls short of expectations on the second issue. The major reasons being: (a) the lack of progress in Islamic economics theory, (b) the similarity of Islamic economic practices in the forms of Islamic finance to conventional finance, and (c) its limited ability thus far to embrace multi-perspective views. On the basis of these, I conclude that Islamic economics is also in need of reform. أثار ظهور وجهات نظر إسلامية حول القضايا الاقتصادية من منظور الاقتصاد الإسلامي الكثير من الاهتمام وخاصة في الجوانب التطبيقية في المصارف الإسلامية والتمويل الإسلامي. في ضوء إخفاق وفشل الاقتصادات السائدة في معالجة العديد من القضايا الاقتصادية الملحة والعاجلة، برزت الحاجة إلى وجهات نظر بديلة بهذا الخصوص. ومن هنا تقدم هذه الورقة تقييماً لعلم الاقتصاد الإسلامي ومدى نجاحه في تلبية هذه الحاجة وفق النقاط التالية: (1) هل علم الاقتصاد الإسلامي مناسب لتلبية هذه الحاجة؟ (2) هل تم تطويره إلى حد يصبح ضروريا؟، (3) هل الاقتصاد الإسلامي نفسه بحاجة إلى الإصلاح؟ على الرغم من القناعة لدي الباحث بأن علم الاقتصاد الإسلامي مناسب لتلبية هذه الحاجة إلا أنه لم يتم تطويره حتى يصبح ضروريا. ومن أهم الأسباب التي أدت إلى ذلك: (أ) الركود في تطور نظريات الاقتصاد الإسلامي، (ب) تشابه الممارسات الاقتصادية الإسلامية في مجال التمويل الإسلامي مع التمويل التقليدي، و (ج) عدم تمكن الاقتصاد الإسلامي من تقبل وجهات نظر مختلفة. وفي ضوء ذلك فإن الباحث يرى بأن الاقتصاد الإسلامي نفسه بحاجة إلى الإصلاح.

Suggested Citation

  • Mansor Haji Ibrahim, 2019. "Rethinking Islamic Economics إعادة التفكير في الاقتصاد الإسلامي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 32(2), pages 119-124, January.
    • Handle: RePEc:abd:kauiea:v:32:y:2019:i:2:no:9:p:119-124
    DOI: 10.4197/Islec.32-2.9
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    References listed on IDEAS

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    More about this item

    Keywords

    Islamic Economics; Islamic worldview; Reform. الاقتصاد الإسلامي، النظرة الإسلامية العالمية، إصلاح.;
    All these keywords.

    JEL classification:

    • A2 - General Economics and Teaching - - Economic Education and Teaching of Economics
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • P41 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance

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