Tag: Islamic Economics

Highlights of World Inequality Report 2026

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The number of billionaires has surpassed 3,000, with Elon Musk becoming the first person to hold over half a trillion dollars in wealth. However, this extreme wealth concentration is happening amidst widespread hunger, with one in four people globally facing food insecurity. The issue isn’t just the lavish spending of billionaires, but how they use their wealth to influence politics, governments, and media, undermining democracy and fairness. As US Supreme Court Justice Louis Brandeis said, ‘We must make our choice. Either we can have extreme wealth in the hands of the few, or we can have democracy. We cannot have both’. This report is about that choice.

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Remembering Royal Prof. Syed Muhammad Naquib al-Attas

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Prof. Dr. Naquib at Attas lived a prolific scholarly life which spanned almost a century. One of the pioneer figures in Islamisation, Decolonisation and Desecularization literature. He shared his profound thoughts in his books and public lectures. He provided deeply profound critique of contemporary philosophies of his time and how to respond by not copying rather than deconstructing, decolonising, desecularizing and embracing the ideals, values and principles of Islamic revealed knowledge as foundation. May Allah bless him for his tremendous contributions and mentoring generations of Muslims relentlessly, devotedly and wholeheartedly.

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Moral Reflections on Economics, Vol 6, Issue 3

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March 2026 issue (Vol 6, Issue 3) of Moral Reflections on Economics features

• “Fasting in Ramadan and UN Sustainable Development Goals” by Salman Ahmed Shaikh.

• “The Erosion of Value: A Macroeconomic Analysis of Inflation”  by Ahmed Mohamed.

• Highlights of World Inequality Report 2026 by Muhammad Hammad.

• Book review of “Islamization of Human Sciences” by Prof. Mohd. Yusof Hussain.

• Research paper in focus on “Islamic Economics and Economics as a System of Power” by Dr. Adem Levent and Dr. Fahriye Afacan.

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

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Moral Reflections on Economics, Vol 6, Issue 2

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February 2026 issue (Vol 6, Issue 2) of Moral Reflections on Economics features

• “Pricing Benchmark, Money Market Instruments and Monetary Policy” by Salman Ahmed Shaikh.

• “Money and Inflation”  by Hifz ur Rab.

• Highlights of Oxfam Report on “Resisting the Rule of the Rich” by Muhammad Hammad.

• Book review of “Iqtisaduna” by Baqir Us Sadr.

• Research paper in focus on “Breaking Bad: How Health Shocks Prompt Crime” by Steffen Andersen, Elin Colmsjö, Gianpaolo Parise, Kim Peijnenburg.

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

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Environmental Sustainability in the Prophetic Sunnah: A Foresight Perspective

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The author argues that the Sunnah presented a forward-thinking model long before the modern concept of sustainability emerged. This model emphasizes resource preservation, responsible consumption, and the protection of future generations’ rights. Unlike modern secular models, the Sunnah is argued to provide a holistic framework that integrates spiritual, moral, and practical dimensions into environmental care. The author argues that environmental protection is an inherent part of the higher objectives of Islamic law (Maqasid al-Shariah), specifically the preservation of the five essentials: religion, life, intellect, progeny, and wealth.

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Moral Reflections on Economics, Vol 6, Issue 1

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January 2026 issue (Vol 6, Issue 1) of Moral Reflections on Economics features

“Roundup of IIUM Symposium on Ummah at 1,500 Years” organized by Department of Economics, KENMS, IIUM.

“A Maqasid al Shariah Approach to Reforming Gross Domestic Product”  by Davi John J Simundo Palo.

Highlights of Global Health Report 2025 by Muhammad Hammad.

Book review of “A Critical Survey of Islamization of Knowledge” by Prof. Mohamed Aslam Haneef.

Research paper in focus on “Environmental Sustainability in the Prophetic Sunnah: A Foresight Perspective” by Dr. Usama Abdul Majid Alani.

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

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Moral Reflections on Economics, Vol 5, Issue 12

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December 2025 issue (Vol 5, Issue 12) of Moral Reflections on Economics features: “The Dual Structure of Islamic Economics: Economics of Religion and Religious Economics” by Assoc. Prof. Dr. Mohd Nahar Mohd Arshad, Department of Economics, KENMS, IIUM;
“Stabilizing Purchasing Power of Common Medium of Exchange”  by Hifz Ur Rab; Highlights of Islamic Finance Development Report by Hammad; Book review of “Capitalism: A Very Brief Introduction” by James Fulcher reviewed by Aisha Wani; Research paper in focus on “Utility Maximization, Morality, and Religion” by Dr. Jonathan E. Leightner and regular sections of reflections, market news, economic and financial indicators and call for papers.

Download at: https://islamiceconomicsproject.com/periodicals/

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Methodology of Economics: Secular Versus Islamic

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The author asserts that Islamic economics is currently the result of applying Islamic rules and injunctions (Fiqh) to the secular economic framework, and is not yet a separate discipline that fully replaces secular economics. The author notes that methodology is a messy and confusing area in both fields. He highlights that in Islamic economics, it is often wrongly treated as a research design or work plan. The author explains that economics is usually called ‘science’ and is seen to be built for achieving its objectives on some perception of rationality. Methodology is the ‘theory of theories’; in the field of economics it refers to the “process economists use to authenticate the knowledge about economic phenomena”.

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Moral Reflections on Economics, Vol 5, Issue 11

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November issue of Moral Reflections on Economics is published, featuring:
• “Complexity Economics: Dynamic Perspective” by Prof. Dr. Tariqullah Khan.
• Problems with Interest Based System by Hifz Ur Rab.
• Highlights of Social Report 2025 by Hammad.
• Book review of “Methodology of Economics” by Dr. Waleed.
• Research paper in focus on “The Economics Profession, the Financial Crisis, and Method” by Dr. David Colander
• Regular sections of reflections, market news, economic and financial indicators and call for papers.

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Moral Reflections on Economics, Vol 5, Issue 10

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October 2025 issue (Vol 5, Issue 10) of Moral Reflections on Economics features

• “Debt Dominance Vs Risk-Sharing Ideals: How Sukuk Reshape the Debate” by Prof. Dr. Turalay Kenc, INCEIF University.
• “Integration of Tawhidic Epistemology in ESG” by Prof. Dr. Suhaimi Bin Mhd. Sarif, IIUM, Malaysia.
• “Zakah Driven Islamic Economy and Interest Driven Capitalism” by Hifz ur Rab.
• Book review of “Kitab al-Isharah ila Mahasin at-Tijarah” byAbū al-Faḍl Jaʻfar ibn ʻAlī al-Dimashqī ; translated by Dr. Adi Setia.
• Research paper in focus on “Do Islamic Cryptocurrency and Bitcoin Co-move at Different Investment Horizons?” by Mosharrof Hosen, Hassanudin Mohd Thas Thaker, Mohammad Nazim Uddin, Abdul Qoyum & Farhad Taghizadeh-Hesary.
• Regular sections of reflections, market news, economic and financial indicators and call for papers.

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