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aub_admin January 23, 1990 18 Views

Islamic Economic Thought : Origin, Past and Dimensions.

Distinguished Scholar & Founder

Professor Dr. Abul Hasan M. Sadeq
Founder & Founder Vice Chancellor
Asian University of Bangladesh (AUB)

Journal Publication

Journal: Hamdard Islamicus
Publisher: Hamdard Foundation, Karachi
Vol/Issue: Vol. XIII, No. 4 (Winter, 1990)

Historical & Philosophical Genesis

In this seminal scholarly article, Professor Dr. Abul Hasan M. Sadeq traces the intellectual genealogy of Islamic economic thought. Published in 1990, this work serves as a foundational bridge connecting classical Islamic jurisprudence with modern economic theory.

Key Dimensions of the Study:
  • Divine Origins: Exploring how Islamic economic principles are rooted in the primary sources (Qur'an and Sunnah), establishing a paradigm where economic activity is viewed as a form of worship (Ibadah) and stewardship (Khilafah).
  • Contributions of Classical Scholars: Re-evaluating the works of early Muslim thinkers—such as Abu Yusuf, Al-Ghazali, and Ibn Khaldun—and their pioneering insights into market mechanisms, labor, and fiscal policy centuries before Adam Smith.
  • Historical Evolution: Analyzing the "past" of Islamic economic practice through various Caliphates to understand how theory was historically implemented in trade, taxation (Kharaj/Jizyah), and public welfare (Baitul Mal).
  • Theological and Material Dimensions: Defining the unique scope of Islamic economics as a science that simultaneously addresses material prosperity and spiritual salvation, contrasting it with purely materialistic secular theories.
The research concludes that Islamic economic thought is not a modern reaction but a sophisticated, ancient system that offers viable dimensions for solving contemporary economic crises through moral and ethical recalibration.
Core Concepts: History of Economic Thought, Islamic Jurisprudence, Khilafah, Baitul Mal, Classical Muslim Scholars, Hamdard Islamicus, AUB.