Socio Economic Issues from an Islamic Perspective
Editor: Roza Hazli Zakaria, Nur Annizah Ishak, Nurul Huda Mohd Satar
Publisher: UM Press
Price : RM40
Islam is a religion where its teaching goes beyond religious ritual. Aside from how to perform the various rituals such as praying, fasting and performing hajj, Islam do provide guidance on the entire system of life that comprises politics, economics and social affairs. The authentic sources, al-Quran and Sunnah, provides guidelines in terms of individual consumption, businesses’ productions, financial institutions’ operation principles up to government’s administration matters. In other words, the Creator has sent down a complete guideline in dealing with politics, economics and social issues with the ultimate aim, to achieve social and economic justice for all. Nonetheless, the world today is characterizes by chaotic development, be it from social, economic or political dimensions.
We are experiencing various social and economic issues at both the micro and the macro level. Households are consuming conspicuously which leads to issues such as overconsumption. Banks are overextending financing in their effort to profit from nonperforming borrowers. Governments are overspending in order to pursue populist policies so that they could retain power. Collectively, all these have led to various issues such as unequal income distribution, extreme poverty, over indebtedness and moral decline.
This book aims to explore some economic and social issues in the society from the Islam point of view. It will also provide Islamic explanation as to what led to the emergence of those issues and the solution that Islam offers to mitigate those problems. It starts by discussing the issue of inequality and poverty; and the instruments and measures to mitigate poverty that is zakah. Then, the book also discusses Shariah compliance financial tools as an alternative to riba. Next, the social issue of conspicuous consumption and the importance of good faith is being discussed.