How Islamic Ethical Wealth Manages the Risks That Threaten ‘Good Health and Wellbeing’ Mission?

T. O. Yusuf () and I. A. Oreagba
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T. O. Yusuf: University of Lagos
I. A. Oreagba: University of Lagos

Chapter Chapter 16 in Islamic Wealth and the SDGs, 2021, pp 325-343 from Springer

Abstract: Abstract The current COVID-19 pandemic ravaging the whole world has revealed the fragility of the global healthcare delivery system. Surprisingly enough, the solution to contain the pandemic has been traced to two advices given by the Last Prophet for mankind as far back as the sixth century—quarantine and personal hygiene. More interestingly, the need and call for a holistic approach to health and wellbeing has become vociferous now than before. This chapter is devoted to proposing a model of how Islamic Ethical Wealth (IEW) can be deployed to finance the SDG’s goal on good health and wellbeing mission. Specifically, it is about proposing a framework/model for strategically and technically supporting good health and wellbeing for humankind through the Islamic Ethical Wealth. IEW meet divine principles and are therefore Shariah-compliant. Using a qualitative research method, the required pieces of information are sourced from Qur’an, Hadith, online resources and scholarly articles which were subjected to content analysis. After critical analysis, we propose a model that encapsulates IEW with five dimensions of human beings (FDH) that avoid threatening risk factors (RFs) to result in holistic health and wellbeing (HHW) as satisfying Maqaasid Shariah (MS). We thereby recommend a two-tier maqaasid Sharia: micro and macro forms of implementation. The micro-tier falls under the purview of retail and wholesale financing by Islamic financial institutions (IFIs). The latter rests with regulatory and legislative authorities and it may extend to international collaboration at the level of the Organisation of Islamic Countries (OIC) and the United Nations (UN).

Keywords: Good health; Wellbeing; Mission; SDGs; Threat; Risk; Islamic; Ethic; Wealth (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-65313-2_16

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DOI: 10.1007/978-3-030-65313-2_16

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