This report is intended to be a guide for policymakers, governments, industry, and international organizations, providing knowledge, insights, and actionable steps that can be taken toward a less wasteful world. It does not offer a blueprint nor a single route to the goal, since every country will have its own contextual, socioeconomic, and cultural preferences and priorities.
We are living in a capitalist society where wealth is circulated mostly among the rich. This creates systematic inequality and this issue continues to further exacerbate the hardships faced by the workers. There are various studies on Islamic banking and finance, but the labour side of Islamic economics is not much focused upon and the number of research studies are limited. The purpose of this study as explained by the author is to explore the progress made in labor economics from an Islamic perspective, especially in advancing policies that can improve the well-being of workers.
The 2023 Global Hunger Index (GHI) shows that, after many years of advancement up to 2015, progress against hunger worldwide remains largely at a standstill. As the effects of crises multiply and intensify, more and more people are experiencing severe hunger, with the situation expected to worsen throughout the year.
There is too much focus on efficiency, but equity is ignored and is left to politicians and policymakers. He admits that our recommendations become little more than a license for plunder. He mentions that economists have stopped thinking about ethics and human well-being.
We propose quantum regenerative leadership (QRL) as a new framework that integrates the insights and practices of quantum leadership and regenerative leadership. QRL proposes that effective leadership in the 21st century requires both a quantum mindset and a regenerative mindset, as well as the skills and competencies to apply them in different contexts and situations.
Authors thinks that PLS offers a valuable resolution for banking system money creation through the optimization of Islamic bank financing by facilitating the separation of the monetary function from the credit one. This reform thought reinforces the stability value of money allowing it to fully perform its functions with reference to the directives of Sharia. This especially allows the integrity and purchasing power of money, the reduction of the gap between the evolution of both real and financial economies and, consequently, the indebtedness and crisis. Authors recommend to promote PLS financing by reforming institutional and regulatory constraints.
It is important to employ a balanced approach by combining mandatory reporting with penalties for non-compliance. Additionally, incentivize sustainable practices by offering tax credits to companies that surpass the required sustainability standards.
UN Sustainable Development Goal 12 talks about responsible consumption and production. FAO reports that one-third of the food produced for human consumption is lost or wasted globally, which amounts to about 1.3 billion tonnes per year.
Authors think that internet crowdfunding is positioned to assume a pivotal role in fundraising efforts catering to a diverse range of emerging Waqf needs, both domestically and internationally. Consequently, there is a pressing demand for an enhanced level of professionalism in Waqf fundraising, particularly when it pertains to the establishment of the financial mechanisms required for such endeavours.
Al Baraka Forum for Islamic Economy in collaboration with the Islamic Chamber of Commerce and Development (ICCD) hosted the 2nd Al Baraka Regional Conference, in partnership with Al Baraka Bank Pakistan, to shed light on the crucial role of home remittances in Pakistan and their impact on sustainable development.
Islamic Economics Project 