Western materialism and Islamic religiosity: a genuine or false compatibility?

Md Shariff, Anita and Ariffin, Muhammad Irwan and Mohammed, Mustafa Omar (2021) Western materialism and Islamic religiosity: a genuine or false compatibility? In: Terengganu International Business and Economics Conference 2021 (TiBÉC VII), 30th - 31st March 2021, Terengganu, Malaysia (Virtual Conference).

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Abstract

The current global economic system is built on the foundation of western economic models in which growth and progress are the ultimate goals. These goals are well supported by the underlying materialistic values of the western society. As Muslim countries too strive to be at par in terms of living standard and worldly achievements, the materialistic values being an integral part of modern western lifestyle are steadily being embraced. It has now become a conventional wisdom to assimilate religion and materialism in the Muslim world. As the assimilation move takes place rapidly, however, the question remains whether this move is valid from the perspective of Islam. This paper seeks to critically examine its validity by analyzing related Quranic verses and past literatures. It is clear from the findings that not only Islam disapprove materialism, materialism itself is antispirituality and incompatible with religious values. It is also proven that materialism and religiosity inversely impact life and economic behaviors and are naturally offsetting each other. Therefore, this paper concludes that the ongoing assimilation move is rather invalid and shortsighted, advancing which would lead the Ummah to a state of deteriorating religiosity at the expense of increasing materialism. This paper, therefore, recommends the Muslims to ditch the materialistic values, work on new goals and slowly disengage from the current economic system as a way forward to protect the purity of their faith and to develop a true Islamic economy.

Item Type:	Proceeding Paper (Invited Papers)
Uncontrolled Keywords:	Religiosity; materialism; progress; Islamic economy; economic behavior
Subjects:	BPH Islamic Economics BPH Islamic Economics > BPH106.3 Consumption. Principles of consumption. Halalan toyyiban H Social Sciences > HB Economic Theory > HB126.4 Islamic Economics H Social Sciences > HB Economic Theory > HB801 Consumption. Demand H Social Sciences > HG Finance > HG1501 Banking H Social Sciences > HG Finance > HG179 Personal finance H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Economics Kulliyyah of Economics and Management Sciences
Depositing User:	Muhammad Irwan Ariffin
Date Deposited:	24 Jan 2024 14:49
Last Modified:	24 Jan 2024 15:31
URI:	http://irep.iium.edu.my/id/eprint/110472

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