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ENTREPRENEURSHIP AS A MEANS TO CREATE ISLAMIC ECONOMY

ENTREPRENEURSHIP AS A MEANS TO CREATE ISLAMIC ECONOMY This paper advocates that many features of an Islamic economy can be developed through a “bottom up,” rather than a “top down” approach. The current poverty and unemployment levels of the Ummah (World Muslim community) are briefly outlined. The paper then postulates that poverty within the Ummah can be reduced through the pursuit of Tawhid principled entrepreneurship. The need of an Islamic business model and the basic tenants of an Islamic economy are outlined, before describing the features of a Tawhid based business model. The paper concludes with a discussion about how this business model can be developed and implemented within the community through cluster development. JEL Codes: L26 Keywords: Islam; Tawhid; economy; entrepreneurship; Shariah; poverty; culture; business model; cluster http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

ENTREPRENEURSHIP AS A MEANS TO CREATE ISLAMIC ECONOMY

MURRAY HUNTER
Economics, Management, and Financial Markets , Volume 9 (1): 26 – Jan 1, 2014
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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
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Abstract

This paper advocates that many features of an Islamic economy can be developed through a “bottom up,” rather than a “top down” approach. The current poverty and unemployment levels of the Ummah (World Muslim community) are briefly outlined. The paper then postulates that poverty within the Ummah can be reduced through the pursuit of Tawhid principled entrepreneurship. The need of an Islamic business model and the basic tenants of an Islamic economy are outlined, before describing the features of a Tawhid based business model. The paper concludes with a discussion about how this business model can be developed and implemented within the community through cluster development. JEL Codes: L26 Keywords: Islam; Tawhid; economy; entrepreneurship; Shariah; poverty; culture; business model; cluster

Journal

Economics, Management, and Financial Markets – Addleton Academic Publishers

Published: Jan 1, 2014

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