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Islamic Investment-Cum-Wealth Management: Politics, Warfare and Welfare

In: Wealth Management and Investment in Islamic Settings

Author

Listed:
  • Muhammad Iqbal Anjum

    (Internaional Institute of Islamic Economics, International Islamic University Islamabad)

Abstract

Wealth and politics have been complementary in both the competing Islamic and secular paradigms of wealth. The universally harmonious, peaceful, constructive, progressive and divine Islamic politics of humans as the vicegerents of Allah (SWT), which has been aiming at ensuring the dominance of the blessed Universal Order of Allah (SWT) and Islam as His revealed Ad-Deen—a complete code of successful and blissful life of all humans, introduces the multidimensional wealth as a mainstay of the universally sustainable human development and bliss in this world and in the world-hereafter. Islam and the progressive divine Islamic politics of perfectly protecting and optimally developing the Islamically rightful Halaal multidimensional wealth of the whole universe peacefully integrate all humans as well as integrate the entire humanity and all other entities of the natural universe, preclude all the potential pitfalls of the multidimensional wealth as well as its investment by implementing the Islamic teachings and principles, and culminate in zenith of the matchless progressive Islamic blissful civilization and the ideal patterns of sustainable human development. This divine Islamic paradigm of the wealth-politics-welfare nexus was practically transformed into a historical glorious universal truth of the actual existence of the then matchless universal Islamic civilization in the Golden Age of Islam. True, numerous recent ever-worsening pattern of unsustainable development—global warming, climate change, extreme poverty, excessive taxation, stagflation, extreme wealth inequalities, deforestation, deterioration of human values, globalization of warfare, contamination of all environmental media, and culmination of lopesided development into dead-end growth—prove the failure of the conventional economics to increase the universal wellbeing and happiness of majority of humans in the world. In this setting, this chapter sheds light on the matchless potential contribution of Islam and the progressive divine Islamic politics of perfectly protecting and optimally developing the Islamically rightful Halaal multidimensional wealth of the whole universe towards the peaceful realization of socially, economically, environmentally, politically, and strategically sustainable human development on the universal level. It illustrates the progressive Islamic institutional framework and highlights a set of Islamic principles of wealth management-cum-investment. It highlights universal Islamic politics of wealth-welfare nexus. Above all, it contributes the first-ever pioneering comprehensive theoretical explanation and diagrammatic portrayal of the uniquely progressive dynamics of ever expanding environmentally sustainable production possibilities, which can potentially culminate in peaceful realization of Islamically and environmentally sustainable human development within the progressive institutional framework of an Islamic universal economy. In this scenario, it explicates the pertinent Islamic transmission mechanism which demonstrates the sustainable progressive structural transformation of the universal Islamic economy from its initial low human development status to the optimum human development.

Suggested Citation

  • Muhammad Iqbal Anjum, 2022. "Islamic Investment-Cum-Wealth Management: Politics, Warfare and Welfare," Springer Books, in: Toseef Azid & Murniati Mukhlisin & Othman Altwijry (ed.), Wealth Management and Investment in Islamic Settings, chapter 0, pages 57-72, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-3686-9_4
    DOI: 10.1007/978-981-19-3686-9_4
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