Positioning Islamic Gift Economy for Sustainable Development at the Local Level

Abstract

Purpose:The general objective of this study is to explore the potential of Islamic Gift Economy in relation to sustainable development at the local level. This paper is therefore, highlights conceptually some preliminary insights on how the Sustainable Development (SD) and the Islamic Economy can be incorporated into a broader sustainability framework involving the three pillars of economic, social and environmental (ESE) sustainability.Methodology: This paper is abouta preliminary conceptual exploration into the meaning, and potential of Islamic Gift Economy in enhancing sustainable development at the local level. Main findings:The central argument of this article revolves around the idea that Islamic Gift Economy with its focus on social justice ('adl), balance (mizan), and common good (maslahaha'mmah)can be an alternative economic paradigm and development model in this post-capitalist development agenda. Application of the study:This study may be beneficial to policy makers from national to local/community level on how to enhance local/village economy through Islamic Gift Economy.Novelty/Originality of the study: This paper intends to propose an integral framework on the relationship between IGE and sustainable development at the local level. Theoretical and policy implications, and opportunities for future research were also highlighted.

Social Capital in Enhancing Community Economy: The Case of Muhammadiyah Boarding School (Mbs) Sleman Prambhanan, Yogyakarta

“…As mentioned earlier the ISE may pave the way to consider how local populations could reach certain objectives and satisfy certain needs using techniques characteristic of IGE and, thus, carve out a social and economic space of their own to alleviate poverty and improve livelihoods (Salih & Robani, 2018). The researchers observed that the community of MBS Slemanshare a common vision and values towards achieving a common goal.…”

“…In this regard, development should not be viewed solely as economic growth but also concerns for human welfare, community well-being, and social justice. Robani & Salih (2018) highlights that poverty alleviation and improving livelihoods are the core issues of sustainable development at the local level. They assert that from the sustainable development perspective at the community level, economic sustainability must place greater emphasis on boosting economic opportunities and making a profound economic transformation to improve livelihoods and to end extreme poverty.…”

“…They assert that from the sustainable development perspective at the community level, economic sustainability must place greater emphasis on boosting economic opportunities and making a profound economic transformation to improve livelihoods and to end extreme poverty. Robani and Salih (2018), urges for the new economic model and development paradigm they coined as Islamic Solidarity Economy (ISE) founded from Social Solidarity Economy and Islamic Gift Economy (IGE). Social Solidarity Economy (SSE) with its systemic and transformative approaches can be the best alternative system in this post-capitalist development agenda.…”

“…In this regard, the Islamic Solidarity Economy has been proposed as an alternative to the neo-liberal capitalist economic and development paradigm, which is viewed as more humane, inclusive and sustainable. It is hoped that ISE can be instrumental to solve the issue of poverty and social injustice as it is viewed as a more humanistic and sustainable model that resonates with culture and ensure balance (Mizan), social equity ('adl), respect harmony between nature, people and markets (Robani & Salih, 2018).…”

Integrating sustainable Islamic social finance: An Analytical Network Process using the Benefit Opportunity Cost Risk (ANP BOCR) framework: The case of Indonesia

“…Islamic Social finance (ISF), which includes zakat, infaq , sadaqah , waqf, and Islamic microfinance, is critical to promoting a long-term economic development [ 1 – 3 ]. Islamic social finance has a vital role in solving the problem of poverty [ 3 – 6 ], income inequality [ 7 ], global education [ 8 , 9 ], health access [ 10 ], and various other socio-economic problems. The role of Islamic social finance instruments is not only in the majority Muslim countries, but also in minority Muslim countries, such as the role of zakat in providing supportive programs for the poor in Singapore [ 11 ], the role of Islamic social finance to support economic resilience in the UK [ 12 ], and the role of zakat in creating prosperity in Germany, France, and Croatia [ 13 ].…”