First Principles of Islamic Economics

Sayyid Abul Al’a Mawdudi (1903 – 79), a prominent Muslim intellectual in the twentieth century, played a pivotal role in laying down the foundations of modern Islamic economics. Drawing upon Islamic sources, Mawdudi formulated a new paradigm for economic analysis and policy, emphasizing the integration of moral values in economic pursuits to achieve personal and social objectives. A central aspect of this approach is the concept of non-usury, aiming to unite efficiency and equity as inseparable and interdependent factors.

Within the Islamic framework, wealth creation and distribution become instrumental in fostering individual and social well-being, offering pathways to development, social justice, and human welfare. This comprehensive anthology serves as an essential introduction to Islamic Economics. Khurshid Ahmad, who edited the original Urdu work, Maashiyat-i-Islam, provides a substantial new Foreword to this authoritative English Translation by Shafaq Hashemi.

The rapid development of Islamic economics in a modern setting owes much to the foundational work of Sayyid Abul Ala Mawdudi, which is compiled in this book. It establishes the key principles of Islamic economics from its original historical and religious sources. Scholars and researchers in the field recognize this text as a significant contribution to the subject.