What is one of the main goals of Islamic economics?

One of the primary goals of Islamic economics is to promote social justice and equity within the community. This approach is grounded in the ethical and moral values highlighted in Islamic teachings, which emphasize fairness, compassion, and assistance to those in need. Islamic economics seeks to create a balanced societal structure, where resources are distributed more equitably, and wealth is not concentrated in the hands of a few individuals.

This goal is reflected in various principles of Islamic finance, which discourage exploitative practices and promote risk-sharing and ethical investments. For instance, the prohibition of interest (riba) is aimed at preventing unfair advantages in financial dealings, thereby fostering a more just economic system.

Promoting social justice fosters an environment where all members of society have the opportunity to participate in economic activities, reducing poverty and improving overall welfare. This aligns with the broader objectives of Islam, which prioritize the betterment of society as a whole rather than individual accumulation of wealth.