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Understanding Development in an Islamic Framework

Author

Listed:
  • ASKARI, HOSSEIN

    (George Washington University)

  • IQBAL, ZAMIR

    (World Bank)

  • KRICHENE, NOUREDDINE

    (UCLA)

  • MIRAKHOR, ABBAS

    (International Center for Education in Islamic Finance)

Abstract

In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Qur’ān and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure, which in turn, underpin the path of economic and social progress. The essential elements in the life of a Muslim—the unity of creation, freedom and freedom of choice, economic and human development, economic system and financial practice—are developed.

Suggested Citation

  • Askari, Hossein & Iqbal, Zamir & Krichene, Noureddine & Mirakhor, Abbas, 2014. "Understanding Development in an Islamic Framework," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 22, pages 1-36.
    • Handle: RePEc:ris:isecst:0001
    as

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    References listed on IDEAS

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    Cited by:

    1. Muhammad Tariq MAJEED*, 2019. "REAL WELLBEING OF THE UMMAH AND ECONOMIC PERFORMANCE: Islamic Perspectives and Empirical Evidence," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 29(1), pages 1-31.
    2. Hayat, Azmat & Mohd Shafiai, Mohammad Hakimi, 2018. "Liberalism, Islam and the idea of Mankind," MPRA Paper 92353, University Library of Munich, Germany.
    3. Rusni Hassan, 2020. "Reforming Islamic Finance: Why and How? إصلاح التمويل الإسلامي: لماذا و كيف؟," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 33(2), pages 67-80, July.
    4. Hossein Askari, 2015. "Severe Financial Crises and Fundamental Reforms: The Benefits of Risk-Sharing الأزمات المالية الخطيرة والإصلاحات الأساسية: فوائد تقاسم المخاطر," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 28(1), pages 93-128, January.
    5. Hayat, Azmat & Mohd Shafiai, Mohammad Hakimi, 2018. "Liberalism, Islam and the idea of Mankind," MPRA Paper 89538, University Library of Munich, Germany.

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