Decoding Islamic Wealth Management from Qur’anic Texts

Nurizal Ismail (), Zurina Shafii and Nashr Akbar
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Nurizal Ismail: Institut Agama Islam Tazkia, Jl. Ir. H. Djuanda No. 78
Zurina Shafii: Universiti Sains Islam Malaysia, Bandar Baru Nilai
Nashr Akbar: Institut Agama Islam Tazkia, Jl. Ir. H. Djuanda No. 78

Chapter Chapter 2 in Wealth Management and Investment in Islamic Settings, 2022, pp 27-41 from Springer

Abstract: Abstract Recently, Islamic wealth management is one of the new emerging financial service industries that attract many wealthy people to trust their assets managed in accordance with Islamic values and principles. Islamic wealth management is distinct from the conventional conception of wealth management from the philosophical foundation. Therefore, Islamic wealth management’s philosophical foundation is fundamental to understanding wealth management from the Islamic perspective. The paper aims to redefine the contemporary concept of wealth management from an Islamic perspective derived from the Qur’anic perspective. The finding shows that Islamic conception of wealth management from Qur’anic framework is very comprehensive that cover all philosophical foundation; ontology, epistemology, and axiology. The Islamic wealth management process contends three aspects: (1) wealth creation, (2) spending, and (3) saving or investment. Wealth creation has a relationship with the fulfillment of the infaq (spending) objective. The objective is to promote maqashid shari’ah, promoting just and welfare in order to achieve Falah.

Keywords: Wealth; Management; Islam; Qur’an; Maqashid shari’ah (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-19-3686-9_2

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DOI: 10.1007/978-981-19-3686-9_2

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