Les Remèdes Aux Crises Environnementales Et Financières Offerts Par l’Économie Islamique

Ezzedine Ghlamallah (ghlamallah@outlook.com)
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Ezzedine Ghlamallah: CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon

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Abstract: This article discusses how Islamic economics can provide remedies to environmental and financial crises. The first part of the article deals with the issue of environmental and financial crises (1). The environmental crises are analyzed through the issues of global warming, deforestation and marine pollution, and biodiversity loss (1.1). The financial crises are studied through the indebtedness, as a cause and consequence of the depressions, in a context that feeds speculation, where the financial markets are perfused with liquidity (1.2). This first part presents an observation allowing us to establish a diagnostic. The second part serves as a prescription and is devoted to the remedies offered by Islamic economics: the abandonment of usury and speculation; the attachment to the principles of justice, compassion, the search for the common good, as well as responsibility; but also the duty to share wealth and moderation (2.1). The implementation of the principles of Islamic economics is exposed through the contributions of Islamic finance to financial stability and the examples of the mechanisms of zakāh and waqf that respond to the adoption of the values of sharing and sustainability, to benefit humanity and the environment (2.2). Thus, through a withdrawal mechanism such as zakāh and a distribution instrument such as waqf, Islamic economics offers remedies to fully finance the Sustainable Development Goals (SDGs) without having to recourse to more debt.

Keywords: Crise Economique; Crise Financière; Crise environnementale; Crise climatique; Finance islamique; Economie islamique (search for similar items in EconPapers)
Date: 2022-01-15
New Economics Papers: this item is included in nep-env, nep-hme and nep-isf
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Published in Journal of Islamic Economics, 2022, 2 (1), pp.1-23

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