Who is Homo Islamicus? A Qurʾānic perspective on the economic agent in Islamic economics

Abstract

PurposeThis paper aims to explain the nature of the economic agent in Islamic economics. He is commonly referred to as Homo Islamicus.Design/methodology/approachThis is done by deriving the concept from the Qurʾān as the primary epistemological source in Islamic economics. The paper, thus, attempts to explore the message of the Qurʾān and internalize its concepts and values in their totality into the conception of the economic agent from an Islamic perspective.FindingsThe paper brings an insight regarding the nature of the economic agent in Islamic perspective. The concept of the economic agent that is developed from the Qurʾānic teachings will be useful in developing assumptions and theories in Islamic economics.Research limitations/implicationsThis paper explores the normative behavioral framework of man from the Qurʾānic perspective (i.e. what is expected of man) in order to serve as the basis on which assumptions, concepts and theories could be produced and applied in real life. Further studies could extend the discussion by examining the application of the concepts in practice.Practical implicationsThis paper promotes a normative behavioral framework that could be the basis in developing the body of knowledge of Islamic economics.Originality/valueThis paper promotes a concept of the economic agent in Islamic perspective, termed as Homo Islamicus, who is going to portray Islamic ethical teachings in economic actions. The paper brought insights from the Qurʾānic teachings and principles in developing the concept of Homo Islamicus who will be the representative agent in theorizing Islamic economics.