Principles And Objectives Of Islamic Economics As An Alternative Solution To Contemporary Economic Problems

Abstract

This study examines the principles and objectives of Islamic economics as an alternative framework for addressing contemporary economic challenges marked by inequality, financial instability, and ethical erosion in global markets. Using a qualitative descriptive method grounded in a critical-interpretive approach, the research analyzes authoritative Islamic economic literature, institutional reports, and contemporary socio-economic debates. The findings indicate that Islamic economics provides a comprehensive paradigm centered on the principles of tawhid, justice, balance, and maslahah, offering normative and practical mechanisms to promote distributive equity, financial resilience, and ethical market governance. Empirical evidence also highlights the effectiveness of Islamic redistributive instruments, risk-sharing contracts, and Islamic fintech innovations in reducing structural poverty and enhancing inclusive economic development. The study concludes that Islamic economics represents not merely a normative alternative but a transformative paradigm capable of reshaping global economic thinking toward more sustainable, ethical, and human-centered outcomes