Professor Muhammad Nejatullah Siddiqui: A Thinker of Islamic Economics
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ID: 310911
2024
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Abstract
Professor Muhammad Nejatullah Siddiqui (1931-2022) a preeminent thinker in the field of Islamic economics is well known for his substantial intellectual contributions. His work spans many decades and covers a broad range of topics within Islamic finance, economics, and banking. Siddiqui's scholarship is marked by his strong commitment to integrating ethical considerations and Sharia principles into economic theory and practice. Adopting qualitative research methodology, this paper presents an overview of Siddiqui's key ideas and contributions, including his focus on the ethical foundations of economic activity, the importance of Sharia compliance, and the promotion of equitable wealth distribution. It also delves into Siddiqui's support for risk-sharing and profit-and-loss-sharing mechanisms, his critique of speculative finance, and his vision of an Islamic economic system rooted in principles of justice and cooperation. Through his writings, teachings, and engagement with academic and professional communities, Siddiqui has played a central role in shaping the discourse on Islamic economics and finance, establishing a legacy as a pioneering thinker in the field. Furthermore, this paper explores his perspectives on Islamic economics, addressing issues such as property ownership, economic relationships, development, natural resource distribution, and the state's role within an Islamic economy. It critiques the extreme approaches of capitalism and socialism, presenting Islam's middle path as a rational solution to humanity's problems. Additionally, the paper delves into the state's role in Islamic economics and the distribution of natural resources in an Islamic state, providing a critical assessment of capitalism and socialism while proposing a balanced and logical alternative for society.
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| Authors | Lubna Naaz |
| Journal | Pakistan Journal of Islamic Research |
| Year | 2024 |
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| Keywords | Keywords not found |
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