Economic Secularization and its Impact on the Islamic Economic System

The main objective of this study is to deepen the understanding of how Islamic values can be integrated into the modern economic system, thereby creating a more inclusive, just, and welfare-oriented economic model. This study uses library research to access and analyze various sources of information relevant to an integrative literature analysis. The results of the study confirm that economic secularization. However, it has dominated the global system with a paradigm of materialism and individualism, simultaneously opening opportunities for Islamic economics to offer transformational solutions that are more ethical, inclusive, and sustainable. By reconstructing the Sharia-based paradigm, integrating the values of justice and solidarity into modern economic practices, and strengthening Islamic economic institutions through innovation and professionalism, this system can go beyond simply being an alternative to capitalism and socialism. Islamic economics has excellent potential to create a global economic order oriented towards human welfare and make it relevant in the modern era and as a universal solution that addresses the world's pressing needs.

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Publication Details

Journal
Dalwa Islamic Economic Studies Jurnal Ekonomi Syariah
Published
2024-12-31
DOI
https://doi.org/10.38073/dies.v3i2.2547
Citations
2
Primary Topic
Islamic Finance and Banking Studies
Type
article
Field-Weighted Citation Impact
1.89
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article

Economic Secularization and its Impact on the Islamic Economic System

Suud Sarim Karimullah
2 citations
Dalwa Islamic Economic Studies Jurnal Ekonomi Syariah
Islamic Finance and Banking Studies
1.89
article

Economic Secularization and its Impact on the Islamic Economic System

Suud Sarim Karimullah
article en
2 citations

Abstract

The main objective of this study is to deepen the understanding of how Islamic values can be integrated into the modern economic system, thereby creating a more inclusive, just, and welfare-oriented economic model. This study uses library research to access and analyze various sources of information relevant to an integrative literature analysis. The results of the study confirm that economic secularization. However, it has dominated the global system with a paradigm of materialism and individualism, simultaneously opening opportunities for Islamic economics to offer transformational solutions that are more ethical, inclusive, and sustainable. By reconstructing the Sharia-based paradigm, integrating the values of justice and solidarity into modern economic practices, and strengthening Islamic economic institutions through innovation and professionalism, this system can go beyond simply being an alternative to capitalism and socialism. Islamic economics has excellent potential to create a global economic order oriented towards human welfare and make it relevant in the modern era and as a universal solution that addresses the world's pressing needs.

Dalwa Islamic Economic Studies Jurnal Ekonomi SyariahVol. 3(2)
Universitas Patria Artha (ID), Institut Sains dan Teknologi Terpadu Surabaya (ID)
Openalex Percentile: Top 10%
Islamic Finance and Banking Studies
1.89
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Economic Secularization and its Impact on the Islamic Economic System — Suud Sarim Karimullah · Dalwa Islamic Economic Studies Jurnal Ekonomi Syariah (2024) | TGRS Research Map | TGRS