Knowledge, Work, and Social Welfare as Islamic Socioeconomic Development Goals

Journal of Islamic Banking and Finance, July– Sept. 2015

16 Pages Posted: 12 Sep 2016

See all articles by Shafiullah Jan

Shafiullah Jan

Institute of Management Sciences - Peshawar

Karim Ullah

Institute of Management Sciences - Peshawar

Mehmet Asutay

Durham Business School

Date Written: July 1, 2015

Abstract

Appropriation of development goals is important for the effective socio-economic policy making. This paper presents a discursive and analytical account of the literature on maqasid al-Shari’ah and Islamic Moral Economy (IME) to draw conclusions on what goals should the policy makers prioritise for the socio-economic development. A comprehensive Islamic development Goals (IDG) framework is developed, which informs socio-economic policy making in the Muslim world. The IDG, based on the synthesis of maqasid al Shari’ah and the IME, demonstrates to keep Knowledge, Work, and Social Welfare security as the prime goals of development for an effective socio-economic policy. Agreement and achievement of these goals can holistically create a binding fabric in coordinating various components of a socio-economic policy and can thus a useful congruence in goals and in turn actions can be achieved.

Keywords: maqasid al-Shari’ah, Development, Knowledge, Work, Social Welfare, Islamic Economics, Islamic Finance

Suggested Citation

Jan, Shafiullah and Ullah, Karim and Asutay, Mehmet, Knowledge, Work, and Social Welfare as Islamic Socioeconomic Development Goals (July 1, 2015). Journal of Islamic Banking and Finance, July– Sept. 2015. Available at SSRN: https://ssrn.com/abstract=2836305

Shafiullah Jan (Contact Author)

Institute of Management Sciences - Peshawar ( email )

Sector E-5, Hayatabad, Phase VII
Hayatabad
Peshawar, KPK 25000
Pakistan

Karim Ullah

Institute of Management Sciences - Peshawar ( email )

Sector E-5, Hayatabad, Phase VII
Hayatabad
Peshawar, KPK 25000
Pakistan

Mehmet Asutay

Durham Business School ( email )

Mill Hill Lane
Durham, Durham DH1 3LB
United Kingdom

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