Models of Contemporary Studies in Building Consumer Behavior Theory from an Islamic Perspective: Contributions of Najatullah Siddiqi, Fahim Khan, and Asad Al-Zaman

Abstract

The study aimed to highlight the contributions of Dr. Najatullah Siddiqi, Dr. Asad al-Zaman, and Dr. Fahim Khan to the development of consumer behavior theory from an Islamic perspective, by comparing the traditional economic theory, which is based on individual utility, with the Islamic theory that is grounded in Tawhid (monotheism) and the regulation of desires to achieve the public good.

The study showed that Siddiqi focused on the impact of Islamic values in guiding demand towards necessities and non-material services, while reducing demand for prohibited and luxury goods. He emphasized the Islamic system's ability to support economic growth. Meanwhile, Fahim Khan explained how the Muslim consumer balances worldly benefit with spending in the way of God, influenced by the concepts of zakat (almsgiving) and taqwa (piety), and presented a model based on the Quran and Sunnah that differs from the traditional model. As for Asad al-Zaman, he criticized Friedman’s positivist approach, arguing that values are necessary for analyzing consumer behavior, and proposed a model that integrates altruism and contentment.

The study recommended enhancing research in Islamic economics through non-comparative studies, benefiting from these contributions to build a comprehensive Islamic economic model, and developing academic curricula from an Islamic perspective that highlights this approach in university education.