ONE of the principle guidelines of Islam Hadhari (Civilisational Islam) is to bring the country forward through balanced and comprehensive economic development.
Among others, there are two pertinent concepts that need to be understood in discussing this guideline.
First, wealth creation. Second, equitable society.
The Quran does not approve of asceticism among Muslims but requires them to avail themselves of the bounties of nature.
Allah says: “Say, who has forbidden the adornment of Allah, which He has provided for His servants, and the good things which He has provided.” (Quran 7: 32)
Based on this divine injunction, Muslim jurists have unanimously held the view that the welfare of the people and relief of their hardships is the basic objective of the Syariah.
This implies that the country should organise its economic development to improve economic well-being through fulfilling all basic human needs, removal of all major sources of hardship and discomfort and improvement in the quality of life, morally, as well as materially.
With this perspective, it is imperative for the Government to be committed, that policies leading to full and efficient employment of the entire human and material resources should be formulated in order to achieve a high rate of economic growth, i.e. wealth creation.
The attainment of material prosperity through wealth creation within the framework of Islamic Hadhari principles requires that:
(i) WEALTH creation should not be attained through the production of inessential or morally questionable goods and services,
(ii) WEALTH creation should not widen the social gulf between the rich and the poor by promoting conspicuous consumption; and
(iii) WEALTH creation should not harm present or future generations by degenerating their moral or physical environment.
Hence, while full employment and material well-being are essential from an Islamic point of view, a high rate of growth is only essential to the extent that it contributes to full employment and broad-based economic well-being (equitable society).
From the above discussions, we can conclude that the approach to equitable society can be achieved by organising our wealth creation through economic justice.
Economic justice operates at two levels � micro and macro. Each level complements the other.
The micro level is concerned with the participation of the private sector, i.e. the firms and the households. The behaviour of firms and households must be guided by ethical principles.
At the macro level, the spirit of economic justice can be translated through proper economic management. It begins by appropriate placement of the position and the roles of government vis-a -vis the private sector.
The position of government is highly recognised in economic management. In every organised society, there must be an authority to oversee, co-ordinate the economy and provide the direction for it to move forward.
The functions of government are basically allocative, distributive and to achieve economic stability.
At the same time from the micro perspective, Islam views the private sector as having the primary initiative in the economic activities of the society.
Individual initiative and creativity are highly placed in the Islamic scheme of economic organisation.
Individuals are permanently recognised to own and decide on economic activities of their choices within the syariah requirements.
The Islamic approach to individual participation in the economy is through individual will and drive, generated within religious values built into the economic system.
From the government perspective, it has taken initiatives among others, through the New Economic Policy, National Development Policy, National Vision Policy, Malaysian Incorporated concept, the formation of the Malaysian Business Council and privatisation policies.
These are directions towards bringing closer and harmonising the functions and roles of the Government and the private sector.
Generally speaking, our nation’s approach towards wealth creation has contributed significantly towards realising an equitable society.
The published indicators of our country’s achievements in the areas of basic economics and quality of life have testified convincingly to this.
However, there is still room for improvement in our policy formulation and implementation.
Through Islam Hadhari, it is our hope that in formulating and implementing future economic policies, our achievement in wealth creation will, at the same time, contribute to a continuous equitable society.
