ISLAMIC ECONOMY AND CIRCULAR ECONOMY
How Islamic Economy and Circular Economy are related?
Shariah's objectives endorse the social well-being of individuals, the environment, and society as a whole in the short run as well as in the long run.
When the objectives of Shariah(Religion, Individual, Wealth, Intellect, and Prosperity) are ensured, the society embellishes and thrives as well as human welfare is also made sure.
The main goals of the current linear economic system are wealth maximization which is followed by economic growth. Therefore, it ignores the aspects which are necessary for sustainability like environmental protection and social development, etc. As a result, the objectives of Shariah are hard to achieve in this paradigm.
Consequently, the circular economy takes consideration of the points which are parallel with the Islamic Ideology.
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