Islamic Economics Project

June 2026 issue (Vol 6, Issue 6) of Moral Reflections on Economics features

• “Integrative Methodology of Islamic Economics: A Note” by Prof. Dr. Tariqullah Khan, CEO and Principal Economist, Ventureethica, Toronto, Canada.

• “Beyond Pork and Alcohol: What Halal Compliance Really Means in the Modern Era” by Dr. Nezir Khan.

• Highlights of IFSB Report 2026 by Muhammad Hammad.

• Book review of “The Great Escape” by Prof. Angus Deaton.

• Research paper in focus on “Assessing Universal Basic Income: An Islamic Historical and Maqāşidī Perspective” by Prof. Abdulazeem Abozaid and Saqib Hafiz Khateeb.

• Regular sections of reflections, market news, economic and financial indicators and call for papers.

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Assessing Universal Basic Income: An Islamic Historical and Maqāşidī Perspective

By hammadiep on June 10, 2026 • ( Leave a comment )

Group of people in traditional clothing gathering around a table of coins with five illuminated Islamic principles above

The authors identify a significant blind spot in modern Islamic economics, noting that contemporary Muslim jurists have historically ignored the concept of a universal, unconditional cash transfer. This silence stems from a long-standing academic preoccupation with targeted, faith-based wealth redistribution mechanisms like Zakāh and Sadaqah, which are structurally designed for selective poverty alleviation rather than serving as a baseline macroeconomic floor for every citizen regardless of financial status. By shifting the analytical lens toward the broader state obligation of ensuring collective welfare, the authors construct a fresh, normative framework that integrates UBI within an Islamic moral economy.

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The Great Escape

By hammadiep on June 9, 2026 • ( Leave a comment )

In The Great Escape: Health, Wealth, and the Origins of Inequality, Nobel Laureate Angus Deaton provides a sweeping historical analysis of humanity’s remarkable progress in overcoming poverty and deprivation. Prof. Deaton frames this journey as a massive, ongoing escape from the historical traps of high infant mortality, frequent famines, and pervasive destitution. Driven primarily by the wealth generated during the Industrial Revolution and subsequent breakthroughs in public health, global life expectancy has soared and extreme poverty has plummeted over the past two centuries. This trajectory represents an unprecedented triumph of human ingenuity, demonstrating how economic growth and scientific innovation can fundamentally transform global living standards.

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Key Highlights of the Islamic Finance Stability Report 2026

By hammadiep on June 8, 2026 • ( Leave a comment )

Islamic Finance Stability Report 2026 with global market, technology, risk, and sustainability sectors

The global Islamic financial services industry reached $4.4 trillion in assets in 2025, with growth in banking, capital markets, and insurance sectors. Islamic banking remains dominant, but non-banking segments are growing faster. The industry is concentrated in GCC and EAP regions (75% of assets). Sukuk markets expanded to $1.10 trillion, with strong growth in sustainability and climate-related issuances. Islamic insurance grew double-digit, driven by emerging markets and mandatory insurance requirements.

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Beyond Pork and Alcohol: What Halal Compliance Really Means in the Modern Era

By hammadiep on June 7, 2026 • ( Leave a comment )

Global halal compliance concept integrating blockchain, supply chain, product traceability, digital logistics, lab testing, hygiene standards, and source verification technologies

For many consumers, halal simply means avoiding pork and alcohol. Yet in today’s globalised world of complex supply chains, food technology, cosmetics, pharmaceuticals, and automated manufacturing, determining whether a product is genuinely halal has become far more challenging.

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Integrative Methodology of Islamic Economics: A Note

By hammadiep on June 6, 2026 • ( Leave a comment )

The methodological contribution of Shaikh (2026) is to formulate, more sharply than most of the literature, the choice between an assimilative economics that prices the sacred and a distinctive economics that abandons the analytical, and to argue – on the strength of World Values Survey evidence of broadly shared moral and market attitudes – that the discipline should occupy neither pole but an integrative middle. That diagnosis is sound, and the integrative impulse is the correct one. Its limitation is structural rather than substantive: Shaikh (2026) integrates the scope of analysis while partitioning its method, housing market and beyond-market behaviour under one disciplinary roof but assigning each its own separate toolkit. The result is integration by segregation, a one- dimensional fork resolved by keeping the two domains apart, and the seam shows wherever a single decision carries mixed motives.

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Reply to the Second Rejoinder: Breaking the Trap of Debt, Inflation, Interest and Poverty

By Islamic Economics Project on May 15, 2026 • ( Leave a comment )

This is reply to the second rejoinder written by authors of the book “Breaking the Trap of Debt, Inflation, Interest and Poverty” while responding to the book review.

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Second Rejoinder: Breaking the Trap of Debt, Inflation, Interest and Poverty

By Islamic Economics Project on May 14, 2026 • ( Leave a comment )

The is second rejoinder to the book review of Breaking the Trap of Debt, Inflation, Interest and Poverty. Original review can be accessed at: https://islamiceconomicsproject.com/2026/05/08/breaking-the-trap-of-debt-inflation-interest-and-poverty/

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Reply to the Rejoinder: Breaking the Trap of Debt, Inflation, Interest and Poverty

By Islamic Economics Project on May 13, 2026 • ( Leave a comment )

It is encouraging to see the commitment of the authors to engage with criticism of their proposal. Such efforts to engage with critical issues of the economy and society are highly respectable and deserve appreciation. Some further clarifications are humbly provided in response to the rejoinder by the authors.

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Rejoinder on Review: Breaking the Trap of Debt, Inflation, Interest and Poverty

By Islamic Economics Project on May 12, 2026 • ( Leave a comment )

Rejoinder on the Book Review: Breaking the Trap of Debt, Inflation, Interest and Poverty. Original review can be seen at: https://islamiceconomicsproject.com/2026/05/08/breaking-the-trap-of-debt-inflation-interest-and-poverty/

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