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aub_admin February 23, 1994 17 Views

Islamic Economic Thought

Distinguished Scholar & Founder

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

Journal Publication

Journal: Horizons of Islam (Afāq al-Islām)
Publisher: United Publishers / Jordan University
Issue: February 1994 (pp. 88-103)

Global Perspectives on Economic Theory

In this scholarly contribution published by Jordan University, Professor Dr. Abul Hasan M. Sadeq provides an extensive overview of the modern evolution of Islamic economic thought. Writing for Horizons of Islam, a prestigious platform in the Middle East, he articulates the systemic differences between conventional economic models and the Islamic paradigm.

Key Analytical Themes:
  • Theoretical Framework: Defining the core pillars of Islamic economics—Social Justice (Adl), Benevolence (Ihsan), and the prohibition of exploitation (Riba)—as active drivers for a balanced economy.
  • Policy Implications: Discussing how Islamic thought translates into practical policy, specifically focusing on wealth distribution through Zakat and the role of the state in market regulation.
  • Integration of Ethics: Arguing that the "Horizons" of Islamic economics are broader than secular theories because they integrate moral accountability with profit-seeking motives.
  • Historical Continuity: Connecting the intellectual contributions of Amman's academic circles with the broader global movement toward interest-free banking and ethical investment.
This work is notable for its international reach, bridging the academic discourse between South Asia and the Middle Eastern heartlands of Islamic scholarship. It continues to be cited for its clear exposition of the "Middle Way" (Wasatiyyah) in economic management.
Core Concepts: Economic Theory, Amman Scholars, Jordan University, Social Justice, Wealth Distribution, Islamic Policy, AUB.