Contemporary

Islamic Economics:
A Means to 2nd FORDEBI
Mardhatillah? International
Conference
23-24 OCTOBER 2021

Prof Dr Muhammad Syukri Salleh Organised by Islamic

Economics and Business
Centre for Islamic Development Management Studies (ISDEV) Lecturers’ Forum (FORDEBI)
Universiti Sains Malaysia Indonesia
 This Keynote Address

Keywords:
 Islamic
Economics
 Means
 Mardatillah

1. Mardatillah vs Al-Falah 2. Why Mardatillah? 3. Contemporary

Islamic Economics
for Mardatillah?

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 The First: Mardatillah or Al-Falah?

Ultimate Goal Intermediate Goal

01 02 03 04
Islamic Marda- Al-
…n
Economics tillah Falah

 Knowledge  Pleasure of Allah SWT  Happiness/success/well-being  Infinite forms of rewards

 Application of Shari’ah injunctions
and rules of the Shari'ah in the
acquisition and disposal of material
resources
 Provide satisfaction to human beings
 Enable them to perform their
obligations to Allah and the society.
 Obey Allah's in this world from Allah SWT
commandments, abandon  Happiness/success/well-being
Allah's prohibitions in the world Hereafter
 Barakah  ‘Reward’ (thawab/ajr)
 Rahmah (Allah’s grace)
 All goodness from Allah
Allah’s pleasure is higher than Allah’ rewards

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Pleasure (Mardhatillah)  Rewards (Al-Falah)

Forgiveness &
Mighty Rewards
Great Rewards
There is no good in most … you will see them
of their secret counsels bowing down, prostrating
except (in his) who enjoins themselves, seeking grace
charity or goodness or from Allah and pleasure…
reconciliation between Allah has promised those
people; and whoever among them who believe
does this seeking Allah’s and do good,
pleasure, We will give forgiveness and a great
him a mighty reward. reward.
Rewards
…We ordained it not for
them – only seeking
Allah’s pleasure, and they
observed it not with right
observance. So We give
those of them who
believe their reward, but
many of them are evil-
livers.

(Al-Nisa. 4:114) (Al-Ahzab, 48:29) (Al-Hadid, 57:27)

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With it Allah guides him
who will follow His
pleasure into the ways of
safety and brings them
out of utter darkness
into light by His will and
guides them to the right
path. (Al-Maaidah, 5:16)
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Why Mardhatillah?
[Forms of Rewards]
And among men is he who
sells himself to seek the
pleasure of Allah; and
Allah is Affectionate to the
MARDHATILLAH servants. (Al-
Baqarah, 2:207)
#02
 The Bone of Contemporary Islamic Economics
1. PARADIGM 2. ASSUMPTIONS 3. CONCEPTS 1 & 5 = Tauhid
 Western Ethno-centric  Scarcity of Resources  Undefined 2, 3, & 4 = Syariah
 Fiqh-Based Neo-Classical  Unlimited Wants Western Ethno-
 ‘Ayatisation’ centric 6 = Tasawuf

MARDHATILLAH?

4. METHODOLOGY 5. ULTIMATE AIM 6. ISLAMIC ECONOMISTS

 Conventional Research  Al-Falah  Knowledge-Practice Dichotomy
Methodology

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 Conclusion
Contemporary Islamic
Economics
Al-Falah?
05  Indequate nature of Islam
 Un-Islamic rooted
 Real Islamic economics
much to be desired
04
Real Islamic Economics
1. Transforming contemporary
03 Islamic economics into real Mardhatillah &
Islamic economics Al-Falah!

02 2. Establishing the real Islamic

economics from within
Islamic paradigm

01
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