Assets Journal
Vol. 3 No. 1 (2025): Economic and Menegement

THE ROLE AND FUNCTION OF THE STATE IN ADVANCING ISLAMIC ECONOMIC SYSTEM: A GLOBAL PERSPECTIVE

Moh. Fakhri Siddiqi (Nurul Jadid university)
Sitti Aisyah (Nurul Jadid university)
Silvia Nurul Rahma (Nurul Jadid university)



Article Info

Publish Date
19 Jan 2025

Abstract

The state has a significant responsibility in creating prosperity and welfare for its people in accordance with sharia principles. This concept has been discussed by prominent thinkers such as Al-Ghazali and Al-Mawardi, who emphasized the importance of market supervision, fairness in resource distribution, and economic stability. This paper outlines the role of the state in managing economic factors such as allocation, distribution, and stabilization, as well as the state's essential role in addressing market failures and negative externalities. Furthermore, the discussion includes the relevance of Ibn Taimiyyah's thoughts to the modern economic system in Indonesia, including monetary policy strategies, infrastructure development, and equitable resource management. In conclusion, the role of the state is crucial in fostering public welfare and achieving the primary objectives of Islamic economics, namely falah and maslahah for all members of society

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Description

An electronic journal that focuses on scientific articles resulting from research or community service that examines problems and issues related to economics and business. This journal provides an academic platform for professionals and researchers to contribute to innovative work in the fields of ...