{"id":89141,"date":"2026-01-04T00:00:00","date_gmt":"2026-01-04T00:00:00","guid":{"rendered":"https:\/\/iumsonline.cloud\/2026\/01\/04\/al-qaradaghi-islamic-banking-as-a-strategic-tool-for-development-and-strengthening-the-islamic-economy\/"},"modified":"2026-01-04T00:00:00","modified_gmt":"2026-01-04T00:00:00","slug":"al-qaradaghi-islamic-banking-as-a-strategic-tool-for-development-and-strengthening-the-islamic-economy","status":"publish","type":"post","link":"https:\/\/iumsonline.cloud\/en\/2026\/01\/04\/al-qaradaghi-islamic-banking-as-a-strategic-tool-for-development-and-strengthening-the-islamic-economy\/","title":{"rendered":"Al-Qaradaghi: Islamic Banking as a Strategic Tool for Development and Strengthening the Islamic Economy"},"content":{"rendered":"

Al-Qaradaghi:
\nIslamic Banking as a Strategic Tool for Development and Strengthening the
\nIslamic Economy<\/o:p><\/span><\/b><\/p>\n

 <\/o:p><\/span><\/p>\n

On Friday evening,
\nDr. Ali Mohieddin Al-Qaradaghi, President of the International Union of Muslim
\nScholars, presented his insights on Islamic banking and its pivotal role in
\nachieving comprehensive development during his lecture at the Third Scientific
\nForum organized by the Future Association for Da\u2019wah, Culture, and Education in
\nMauritania.<\/span><\/o:p><\/span><\/p>\n

Al-Qaradaghi
\nemphasized that Islamic economics serves as the primary reference for Islamic
\nbanking, explaining that conventional interest-based banks operate according to
\nthe principles of capitalism, which rely on credit, debt, and personal
\nsolvency. In contrast, Islamic economics is based on tangible assets, real
\nbenefits, and fairness, ensuring justice and preventing exploitation.<\/span><\/o:p><\/span><\/p>\n

Islamic Economics vs. Positivist Models<\/span><\/b><\/o:p><\/span><\/b><\/p>\n

He critically
\naddressed the concept of positivist economics, which neglects social dimensions
\nand focuses on individual wealth and state dominance. He noted that
\ninterest-based profits, which historically reinforced capitalist control, still
\ndominate today, despite their negative impact on societies and economies.<\/span><\/o:p><\/span><\/p>\n

Al-Qaradaghi
\nstressed that Islamic banking jurisprudence cannot fulfill its intended role
\nunless it is grounded in its authentic reference\u2014Islamic economics, with its
\nintegrated components: the science of Islamic economics, the economic system,
\neconomic policies, analysis, programs and projects, and transaction
\njurisprudence.<\/span><\/o:p><\/span><\/p>\n

Unified Reference\u2026 Governing Principles<\/span><\/b><\/o:p><\/span><\/b><\/p>\n

He highlighted that
\nWestern economics is based on five main principles: production, consumption,
\nexchange, distribution, and redistribution. In contrast, Islamic economics is
\nbuilt on the principle of ownership, with all other elements deriving from it.<\/span><\/o:p><\/span><\/p>\n

Al-Qaradaghi
\nexplained that the root of challenges facing Islamic banking lies in deviating
\nfrom this reference, emphasizing that interest-based solutions do not resolve
\ninflation and fail to achieve economic justice.<\/span><\/o:p><\/span><\/p>\n

He noted that the
\ncore principles of Islamic economics include the elimination of injustice,
\nuncertainty (gharar), and ignorance, equitable sharing of benefits, and the
\nrequirement of true ownership, ensuring balance between the individual and
\nsociety.<\/span><\/o:p><\/span><\/p>\n

He called for the
\ndevelopment of Islamic banking through activating Sharia-compliant contracts,
\ndevelopment-oriented Sukuk, and maximizing the role of Zakat in development, as
\nwell as leveraging digital opportunities, noting that technological advancement
\nnow allows the creation of \u201cpocket Islamic banks.\u201d<\/span><\/o:p><\/span><\/p>\n

In conclusion,
\nAl-Qaradaghi affirmed that Islamic economics is a comprehensive and adaptable
\nsystem, with its foundations firmly rooted in the Qur\u2019an and Sunnah, including
\napproximately 360 economic terms in the Qur\u2019an, along with economic and
\nfinancial policies, and the law of supply and demand, which has been adopted by
\ncapitalist systems.<\/span><\/o:p><\/span><\/p>\n

In the same forum,
\nthe President of the Future Association, Al-Mallamah Mohamed El-Hassane Ould
\nDeddo, stated that the association serves as an umbrella to unify the efforts
\nof Da\u2019wah scholars from different intellectual orientations, bringing them
\ntogether to successfully carry out the association\u2019s mission of promoting
\nDa\u2019wah, educating, and enlightening society.<\/span><\/o:p><\/span><\/p>\n

He emphasized that
\nthe association\u2019s objectives focus on preserving the community\u2019s faith and
\nculture in the face of overwhelming globalization, which seeks to detach youth
\nfrom their identity, as well as on education as the true path to national
\nprogress, stressing that uneducated individuals cannot fulfill the needs of the
\nnation.<\/span><\/o:p><\/span><\/p>\n

The scientific forum
\nconcluded with audience interventions and specialized questions regarding
\nIslamic banking jurisprudence and the challenges of its implementation, which
\nDr. Al-Qaradaghi addressed at the end of the session.<\/span><\/o:p><\/span><\/p>\n

<\/span><\/span><\/span><\/span>(Source:
\nAl-Ittihad)<\/span><\/o:p><\/span><\/p>\n

 <\/o:p><\/span><\/p>\n

\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640\u0640<\/o:p><\/span><\/p>\n<\/p>\n

* \u0644\u0644\u0627\u0637\u0644\u0627\u0639 \u0639\u0644\u0649 \u0627\u0644\u062a\u0631\u062c\u0645\u0629 \u0627\u0644\u0643\u0627\u0645\u0644\u0629 \u0644\u0644\u062e\u0628\u0631 \u0628\u0627\u0644\u0644\u063a\u0629 \u0627\u0644\u0639\u0631\u0628\u064a\u0629<\/span><\/b>\u060c
\n\u0627\u0636\u063a\u0637 (\u0647\u0646\u0627<\/a><\/span><\/u>).<\/span><\/b><\/o:p><\/span><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Al-Qaradaghi: Islamic Banking as a Strategic Tool for Development and Strengthening the Islamic Economy<\/p>\n","protected":false},"author":0,"featured_media":89316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[420],"tags":[],"class_list":["post-89141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-union-activities-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/posts\/89141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/comments?post=89141"}],"version-history":[{"count":0,"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/posts\/89141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/media\/89316"}],"wp:attachment":[{"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/media?parent=89141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/categories?post=89141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iumsonline.cloud\/en\/wp-json\/wp\/v2\/tags?post=89141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}