Journal of Social and Political


ISSN 2615-3718 (Online)

ISSN 2621-5675 (Print)

Published: 22 July 2020

Islamic Economy: Economic or Political Approach?

Laila Elloumani

Ibn Tofail University of Kenitra, Laboratory of Entrepreneurship and Public Policies, ISGA group research center Morocco

pdf download

Download Full-Text Pdf


Pages: 659-663

Keywords: Economy, Islamic Finance, Islamic Economy, Politicized Economy


Several Muslim economists have tried the development of a so-called Islamic economy. Its emergence has been the subject of several criticisms since it is regarded as a resistance and renouncement of Islam against the influence of the West. Assuming that it is hardly a discipline in its own right in which scientific analysis is paramount, but an instrument of pronging and endorsing Muslim thought. This special status, in general with the scientific vision of the economy, explains the many national debates within the discipline itself. The objective of this work is to make a flashback to the conditions of birth and development of the concept of Islamic economy, to deal with its political dimensions before questioning the religious legitimacy of its Islamic financing.


  1. Al-Faruqi, I. R., Al-Tawhid: Its implications for thought and life, IIIT, Kuala Lumpur, 1992. - Al-Sadr, M. B., Iqtisaduna [Notre économie], Beyrouth, Dar al-Fikr, 1973.

  2. Boltanski, Luc, and Eve Chiapello, "Le nouvel esprit du capitalisme", Paris, Gallimard, 1999. - Burgat, François, L'islamisme en face, Paris, La Découverte, 2002.

  3. Carré, Olivier, "L'Orient arabe aujourd'hui, Bruxelles", Éd. Complexe, 1991.

  4. Chapellière, Isabelle, "Ethics and Finance in Islam", Paris, Koutoubia, 2009.

  5. Chapra, M. Umer, "Mawlana Mawdûdi’s Contribution to Islamic Economics ", The Muslim World, 94, no2 (1er avril 2004), pp. 163–180.

  6. Dot-Pouillard, Nicolas, "From Beijing to Tehran, looking towards Jerusalem: the singular conversion to Islamism of the "Maos du Fatah", Cahiers de l'Institut Religioscope, n° 2, December 2008.

  7. Feillard, Gwenaël, "Insuffler l'esprit du capitalisme à l'Umma : la formation d'une "éthique islamique du travail" en Indonésie", Critique internationale, 25, no 4 (2004), pp. 93-116.

  8. Galloux, Michel "Islamic Banks", in: L'esprit d'entreprise: aspects managériaux dans le monde francophone, Montrouge, John Libbey Eurotext, 1993, p. 471.

  9. Haenni, Patrick, "Ils n'ont pas fini avec l'Orient : de quelques islamisations non islamistes", Revue du monde musulman et de la Méditerranée, 85, no 1 (1999), pp. 121-147

  10. Haneef, Mohamed Aslam, "Contemporary Islamic economic thought : a selected comparative analysis", Alhoda UK, 1995.

  11. Iqbal, Zamir, Hossein Askari, et Abbas Mirakhor, "Globalization and Islamic Finance : Convergence, Prospects and Challenges", John Wiley and Sons, 2009.

  12. Jouini, Elyès, and Olivier Pastré, "La finance islamique : a solution at crise  ? ", Paris, Economica, 2009.

  13. Karich, Imane, "Le système financier islamique : de la religion à la banque", Brussels, Larcier, 2002.

  14. Kuran, Timur, " Islam and Mammon: The Economic Predicaments of Islamism", Princeton University Press, 2005.

  15. Mallat, Chibli, "The Renewal of Islamic Law: Muhammad Baqer as-Sadr", Najaf and the Shi’i International, Cambridge University Press, 2004.

  16. Mawdudi, Abul Ala, "The Economic Problem of Man and its Islamic Solution", Islamic Publications Ltd, 1941.

  17. Muhammad Baqer's book as-Sadr (1935-1980), Iqtiçadouna (Our Economy). Published in 1961,

  18. Nasr, Seyyed Vali Reza, "Mawdudi and the Making of Islamic revivalism", New York / Oxford, Oxford University Press, 1996.

  19. Qutb, Sayyed, "Social Justice in Islam", John B. Hardie, Washington, DC: American Council of Learned Societies,1955.

  20. Rahnema, Ali, An Islamic Utopian: A Political Biography of Ali Shariati, I.B. Tauris, 2000. - Roy, Olivier, L'Islam mondialisé, Paris, Seuil, 2004.

  21. Saïdane, Dhafer, "La finance islamique à l'heure de la mondialisation", Paris, La Revue Banque, 2009.

  22. Wilson, R., " The contribution of Muhammad Baqir Al-Sadr to contemporary Islamic economic thought ", Journal of Islamic Studies 9, no 1 (1998), pp. 46-59.

  23. Yavari d'Hellencourt, Nouchine, "Le radicalisme shi'ite de Ali Shari'ati", in: Carré, Dumond, Radicalismes islamiques, Paris, L'Harmattan, 1985, pp. 83-118.

About Us

The Asian Institute of Research is an online and open-access platform to publish recent research and articles of scholars worldwide. Founded in 2018 and based in Indonesia, the Institute serves as a platform for academics, educators, scholars, and students from Asia and around the world, to connect with one another. The Institute disseminates research that is proven or predicted to be of significant influence for the general public.

Contact Us

Please send all inquiries to the email:

Business Address:

5th Floor, Kavling 507, Fajar Graha Pena Tower, Jl. Urip Sumohardjo No.20, Makassar, Indonesia 90234

Copyright © 2018 The Asian Institute of Research. All rights reserved

Stay Connected

  • Instagram - Black Circle
  • Facebook - Black Circle
  • LinkedIn - Black Circle