islamic economic renaissance 389explicitly or by implication, economic development is a topic that is
well embedded in Islamic economics. And if we add to that other
reasons, such as the distinction of Islamic economics from other eco-
nomic systems in philosophy, mechanisms and objectives, Islamic
economists would feel the urge, because of the nature of the sub-
ject, to write on economic development from an Islamic perspective.
To begin with, all Islamic economists, both those who have writ-
ten on the subject and others who have not, but still express their
opinion in a different form, agree that Islamic economics is value
based and as such economic development in Islam will be characterised
by the same prerequisite. The differences among the writers are
differences of opinion on details, differences of the degree of empha-
sis, and their perspective for the examination of development issues.
Khurshid Ahmad’s contribution seems to be among the most
quoted and his “Economic Development in an Islamic Framework”
is frequently cited and deserves a due attention. Ahmad enthusias-
tically calls for innovation and a full departure from imported ideas
either from the West in the form of Western capitalism or the Eastern
bloc in the form of socialism. Neither system can provide the Muslim
nations with a model for economic development, nor would either
be suitable to adapt to fit in a framework of Islamic economics
(Ahmed, 1980). The major thrust of Islamic economic development
is, or ought to be, directed at human life with the objective of mak-
ing it purposeful and value oriented. Islamic economic development
as such will be based on two main premises: first, development in
an Islamic framework and Islamic development economics as rooted
in the value-pattern embodied in the Qur"àn and the Sunnah, and
second, this approach rules out imitativeness (ibid.). The philosoph-
ical foundations of Islamic economic development are laid down as:
(a) Tawhìd, God’s unity and sovereignty, (b) God’s Rububiyyah,
divine arrangements for nourishment, sustenance and directing things
towards their perfection, (c) Khilafah, man’s role as God’s vicegerent
on earth, and (d) Tazkiyah, purification plus growth (ibid.). In the
light of, and based on, these four philosophical pillars, Ahmad derives
the parameters governing the concept of development from an Islamic
perspective, which are mainly (ibid.):
(1) The Islamic concept of development has a comprehensive char-
acter and includes moral, spiritual, and material aspects,
(2) The focus for development effort and the heart of development
process is man, in that development means development of man