Islamic Economics as a Pillar of Growth and Social Justice

Abstract

This study explores the role of Islamic economics in promoting economic growth and social justice, addressing gaps in equitable wealth distribution and ethical financial practices. The research aims to assess the impact of implementing Islamic economic principles on growth and social equity. A quantitative survey method with a cross-sectional design was employed, using structured questionnaires distributed to micro, small, and medium enterprises (MSMEs), Islamic financial institutions, and community beneficiaries of zakat and profit-and-loss sharing programs. Data were analyzed using descriptive statistics and multiple linear regression to examine relationships among variables. The results indicate that Sharia financial literacy, zakat implementation, profit-and-loss sharing, and community participation positively and significantly influence economic growth and social justice. The study concludes that Islamic economics can serve as a strategic pillar for sustainable and equitable development. Future research should explore longitudinal impacts and the integration of digital platforms for efficient distribution of Islamic financial instruments.