Mu'amala and the Revival of the Islamic Gift Economy (The End Matters) (Essay‪)‬

Introduction The Islamic Gift Economy (IGE; al-Iqtisad al-Infaqi) can be envisioned as an integrative economic system based on the operative principles of cooperation (ta'awun), (2) mutual consent ('an taradin/muradattin) (3) and partnership (musharaka), and these are in turn founded on the principal ethics of rahma (mercy), gratitude (shukr), generosity (karam/ihsan), moderation (tawazun/ 'iffa), khilafa (trusteeship) and amana (trustworthiness/responsibility). These operational and ethical principles are grounded in the foundational psychocosmological outlook expressed in the belief that (i) the natural and cultural (4) resources of the world are abundant, (5) while (ii) the material needs, wants and desires of human beings are limited (6) and should be limited. (7)