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Islamic Economics: Nature and Need الاقتصاد الإسلامي: الطبيعة والحاجة

Author

Listed:
  • M. Akram Khan

    (Audits and Accounts Services of the Government of Pakistan)

Abstract

It is usually a ticklish task to define a subject. However, the following definition is only a tentative attempt to express the core of meaning as is discernible from the literature: Islamic economics aims at the study of human falah achieved by organising the resources of earth on the basis of cooperation and participation. Falah is a both-worldly concept. In this world it represents three things: survival, freedom from want, power and honour. The Qur'an uses the term falah or its derivates at 40 places. A perusal of these verses leads us to determine the conditions of falah at the spiritual, economic, cultural and political levels. --

Suggested Citation

  • M. Akram Khan, 1984. "Islamic Economics: Nature and Need الاقتصاد الإسلامي: الطبيعة والحاجة," Journal of Research in Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 1(2), pages 51-55, July.
    • Handle: RePEc:abd:crieja:v:1:y:1984:i:2:no:4:p:51-55
    as

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    File URL: https://iei.kau.edu.sa/Files/121/Files/153905_Vol-1-2-17E-MAKhan.pdf
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    References listed on IDEAS

    as
    1. Benjamin Ward, 1972. "What’s Wrong with Economics I," Palgrave Macmillan Books, in: What’s Wrong with Economics?, chapter 6, pages 89-92, Palgrave Macmillan.
    2. Benjamin Ward, 1972. "What’s Wrong with Economics II," Palgrave Macmillan Books, in: What’s Wrong with Economics?, chapter 16, pages 237-246, Palgrave Macmillan.
    3. Benjamin Ward, 1972. "What’s Wrong with Economics?," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-01806-2, March.
    4. Gunnar Myrdal, 1978. "Institutional Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 12(4), pages 771-783, December.
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    Cited by:

    1. Haddou, Samira & Boughrara, Adel, 2025. "How diversification shapes full-fledged Islamic bank Stability? A causal inference approach," International Review of Economics & Finance, Elsevier, vol. 102(C).
    2. Noha Farrag & Hebatallah Ghoneim, 2016. "Challenges to the Development of an Islamic Economic System," Working Papers 42, The German University in Cairo, Faculty of Management Technology.
    3. Mehmet Asutay & Primandanu Febriyan Aziz & Banjaran S. Indrastomo & Yusuf Karbhari, 2023. "Religiosity and Charitable Giving on Investors’ Trading Behaviour in the Indonesian Islamic Stock Market: Islamic vs Market Logic," Journal of Business Ethics, Springer, vol. 188(2), pages 327-348, November.
    4. Avdukic, Alija & Asutay, Mehmet, 2025. "Testing the development impact of islamic banking: Islamic moral economy approach to development," Economic Systems, Elsevier, vol. 49(2).
    5. Daud A. Mustafa & Hashir A. Abdulsalam & Jibrail B. Yusuf, 2016. "Islamic Economics and the Relevance of Al-QawÄ â€˜id Al-Fiqhiyyah," SAGE Open, , vol. 6(4), pages 21582440166, October.

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