Reintegrating the Legal into the Social: Reviving Islamic Transactional Law in the Context of the Civil Economy, with Special Reference to Waqf
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Adi Setia
Abstract
The potentialities and role of Islamic transactional law (ITL) and its underpinning axio-teleological concepts are explored in the cause of reclaiming the development process. In the Islamic scheme of values, the economic enterprise is premised on the organization of livelihood for sufficiency rather than perpetual growth so as to ensure overall socio-economic equilibrium. In this respect, there are discernibly close conceptual, structural and functional connections between the socio-economic objectives of ITL and those of the civil economy (CE). By making intelligent use of these substantive connections between ITL and CE, one can then devise effective legal strategies to substantively revive the former by taking strategic advantage of the already existing legal framework governing the latter. Thus, alient aspects of ITL are discussed in terms of invisible structures serving as formal, socio-legal means toward organizing socio-economic sufficiency, with special reference to the institution of waqf (charitable endowment) as a case in point.
Adi Setia is currently Coordinating Advisor, IGE Advisory, and Director of Dusun Padi and Basatin Filahah Permaculture; email: adisetiawangsa@gmail.com.
© 2018 Law and Development Review
Articles in the same Issue
- Frontmatter
- The Quest for Operational Priorities: Areas in Need of Strategic Development Intervention
- Path Dependence, Abnormal Times and Missed Opportunities: Case Studies of Catastrophic Natural Disasters From India and Nepal
- The Role of Regional Courts in the Development of International Investment Law: The Case of NAFTA Chapter 11 Dispute Settlement Framework and ECtHR
- Procedural Delay in the Developing Middle East
- The Failure of Nigeria’s Economic and Financial Crimes Commission (establishment etc.) Act 2004 as a Development Act
- Open Access in the Economic Sphere or the Political Sphere: Evidence from Japan
- Reintegrating the Legal into the Social: Reviving Islamic Transactional Law in the Context of the Civil Economy, with Special Reference to Waqf
Articles in the same Issue
- Frontmatter
- The Quest for Operational Priorities: Areas in Need of Strategic Development Intervention
- Path Dependence, Abnormal Times and Missed Opportunities: Case Studies of Catastrophic Natural Disasters From India and Nepal
- The Role of Regional Courts in the Development of International Investment Law: The Case of NAFTA Chapter 11 Dispute Settlement Framework and ECtHR
- Procedural Delay in the Developing Middle East
- The Failure of Nigeria’s Economic and Financial Crimes Commission (establishment etc.) Act 2004 as a Development Act
- Open Access in the Economic Sphere or the Political Sphere: Evidence from Japan
- Reintegrating the Legal into the Social: Reviving Islamic Transactional Law in the Context of the Civil Economy, with Special Reference to Waqf
