The need for an Islamic approach to economic development

No single development model will work for all less developed countries, because of their diversity. This recognition of each country's unique situation has, remarkably, only recently been established. The thinking that there was only one path of development resulted in the Westernization and the quick industrialization projects undertaken in less developed countries. These projects led to a disruption of the lifestyles of native peoples. It may be said , however, that development strategies for the Muslim world differ in general from non-Muslim strategies, for all Muslims have a common outlook on life. Rather than following the Western tradition of economic theory, Muslim economists should look to Islam for guidance in developing social and economic policies. Mere material development is not, in Islam, the totality of progress. The West is materialistic. Adopting the strategies of non-Muslims will not bring believers closer to Allah.