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All Journal Formosa Journal of Multidisciplinary Research (FJMR)
Abdul Wahab
Alauddin State Islamic University Makassar
Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Education Social Sciences

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Fundamental Principles of Islamic Economic System: Justice, Equity, and Moral Conduct Nurdiana Nurdiana; Rahmawati Muin; Abdul Wahab
Formosa Journal of Multidisciplinary Research Vol. 4 No. 6 (2025): June 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjmr.v4i6.271

Abstract

This study aims to examine the application of Islamic economic principles in contemporary economic systems, focusing on their contribution to reducing socio-economic inequality, exploitation, and environmental degradation. The basic principles of Islamic economics, such as justice (al-'Adl), equality (al-Musawah), and moral behavior (al-Akhlaq), offer an alternative to the capitalist economic system by emphasizing wealth redistribution, sustainability, and social responsibility. This study uses a literature study method to analyze various relevant sources, including journal articles, books, research reports, and related policies. The results show that the application of Islamic economic principles, through instruments such as zakat, waqf, and Islamic banking, can reduce social inequality and improve people's welfare. However, the main challenges faced are inefficient management and limited implementation outside Muslim-majority countries. This study suggests the need for increased transparency in the management of zakat and waqf, as well as the expansion of the application of the Islamic banking system in the global economy. Overall, Islamic economic principles have great potential to create a more just, sustainable, and socially welfare-based economic system.
Maqasid Syariah and Sustainable Development: Integrating Islamic Objectives into Economic Planning Desy Rahmawati Anwar; Abdul Wahab; Waris Waris
Formosa Journal of Multidisciplinary Research Vol. 4 No. 6 (2025): June 2025
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjmr.v4i6.269

Abstract

The Sustainable Development Goals (SDGs) have prompted scholars to revisit the ethical foundations and philosophical frameworks underlying economic planning and development strategies. Although the SDGs offer a comprehensive blueprint, criticisms have been raised regarding their secular orientation and lack of integration of spiritual and moral values. Therefore, this study examines the integration of Maqasid al-Shariah, the main objectives of Islamic sharia, into the sustainable development framework in order to develop a more balanced and value-based approach to economic planning. The main objectives of this study are to conceptually map the alignment between the five main maqasid (protection of religion, life, mind, lineage, and property) with the SDGs targets, and to propose a practical integrative model in formulating economic policies in the context of Muslim-majority countries. The method used is descriptive-qualitative and conceptual analysis, supported by a bibliometric review of recent literature (2019–2024). The main findings indicate that maqasid al-shariah not only complements the SDGs, but also enriches their moral dimension through the principles of justice, accountability, and spiritual sustainability.
Co-Authors Desy Rahmawati Anwar Nurdiana Nurdiana Rahmawati Muin Waris Waris