Integrating Qur’anic and Hadith Principles in Contemporary Economic Policy

Abstract

This study investigates the incorporation of Qur’anic and Hadith principles into contemporary economic policy, serving as an ethical foundation to promote justice, social welfare, and sustainable development. The research aims to explore how Islamic normative values can guide modern economic governance in tackling challenges such as inequality, financial instability, and social responsibility. Using a qualitative literature review, the study analyzes classical Islamic sources, contemporary academic works, and policy-related literature to identify key concepts and policy implications. The findings reveal that core Islamic principles, including justice (ʿadl), public interest (maṣlaḥah), trustworthiness (amanah), and the prohibition of exploitation, offer a comprehensive moral framework for economic regulation, fiscal policy, and financial systems. Integrating maqāṣid al-sharīʿah into economic policy is shown to enhance social protection, encourage inclusive growth, and support ethical financial practices. Furthermore, the study underscores the relevance of Islamic economic values in addressing modern socio-economic issues while remaining compatible with global development objectives. The novelty of this research lies in its holistic synthesis of Qur’anic guidance, Hadith teachings, and contemporary economic policy discourse, providing a unified ethical-economic perspective rather than fragmented applications. These findings contribute to the expanding field of Islamic economics and offer practical insights for policymakers, regulators, and academics seeking to incorporate Islamic principles into modern economic governance.