islamic economic renaissance 391Having looked at the theory of economic development in positive
economics, economic development in non-Islamic economic systems,
the conceptual framework of Islamic economic development, and the
historical application of the Islamic economic development, Donia
concludes with a positive answer to the question, “Is it possible for
Islam to provide an effective and integrated approach to economic
development that would not miss out the benefits of other economic
systems and at the same time avoid their pitfalls?” In addition to
the assertive positive answer, the evidence of which is provided in
the study, the following conclusions are reached (Donia, 1979, authors’
translation):
(1) Economic development that is governed by the criteria of jus-
tice, equality, goodness, and rightfulness, is a duty stipulated in
the doctrine of Islam. The responsibility for the achievement of
these duties lies with the state and individuals collectively in a
joint partnership accountable to God. Notably, Islamic beliefs
and how strong Muslims adhere to them is a vital part in the
achievement of these responsibilities as whatever programme that
might be, it draws its success from the belief of people involved.
(2) Economic labour (labour to earn a living), is a duty on each
Muslim able to work, of which the only acceptable part is that
which is in line with Islamic norms in so far as the objectives,
manner and effect of the work are within the Islamic ideals. If
any part of this work is not acceptable from an Islamic per-
spective, it becomes prohibited, and an activity from which indi-
viduals should refrain. Hence, Islamic economic development is
bound not to cause harm to any of those involved whether they
are the individuals or the state, consumers or producers.
(3) The only acceptable standard in undertaking responsibilities is
the efficiency, which, in Islamic philosophy, is based on two
inseparable elements: potency and sincerity.
(4) The provision of knowledge, science and information is a social
duty that governments should facilitate, and the state as well as
individuals, share joint responsibility. Knowledge that does not
lead to benefits to society is not acceptable; hence Islam requires
that the relationship between science and application be partic-
ularly strong.
(5) The ownership of resources has implications for economic devel-
opment. Islam allows dual ownership, private ownership and