In this landmark paper published in the very first issue of the IIUM Journal of Islamic Economics, Professor Dr. Abul Hasan M. Sadeq articulates a holistic vision of development that transcends traditional GDP-centric metrics. He presents Islamic economic development as a goal-oriented process that harmonizes material progress with spiritual and moral elevation.

Key Research Pillars:

• Defining Falah: Redefining the objective of development as the attainment of Falah (comprehensive well-being) in both the current life and the hereafter, ensuring that economic growth does not compromise ethical values.
• Equity and Justice (Adl): Arguing that development is incomplete without distributive justice. Professor Sadeq emphasizes that the elimination of absolute poverty is a primary religious and economic mandate of an Islamic state.
• Resource Stewardship: Introducing the concept of Khilafah (trusteeship) in resource management, where individuals are encouraged to be productive while remaining accountable for the social and environmental impact of their economic choices.
• Institutional Role: Detailing the proactive role of the government in creating an infrastructure that supports fair competition, prohibits interest (Riba), and facilitates the mobilization of resources through Zakat and Waqf.

This 1987 work served as an academic cornerstone for the emerging field of Islamic macroeconomics in Southeast Asia and helped establish the conceptual boundaries for Shari'ah-compliant developmental policy.

Core Concepts: Economic Development, Falah, IIUM Malaysia, Distributive Justice, Khilafah, Shari'ah Macroeconomics, AUB.