About 30 students and lecturers attended a special lecture by visiting Professor Dr Masudul Alam Choudhury hosted by the Sultan Omar 'Ali Saifuddien Centre for Islamic Studies (SOASCIS) and UBD School of Business (UBD SBE).
The talk titled "Methodological Development and Applications of Islamic Socio-economic Thought" was held at the SOASCIS building and brought to light how proper policy recommendation and strategies of development planning can be derived through the Tawhidi methodology of unity knowledge by its specific application to regional development planning with the model of dynamic coefficients input-output model of the individual and compounded maslaha (well-being) and the circular causation model of maslaha.
Professor Dr Choudhury had his audience pondering bigger questions as he himself pointed out that the scope of his title was in fact broader than socio-economics itself as development planning encompasses science and society. Taking into consideration how the domain of economics is no longer as it was a few years ago, there needs to be a rediscovery of the science behind it. He also highlighted the inter-relationship in social phenomenon, imploring scholars to employ "viable, usable and credible epistemology" while at the same time being fully aware of the realities of the world around them.
His philosophical take on economics went beyond the typical market filled with goods, services and monetary value. He said that the whole universe made by Allah (SWT) is in itself "a big marketplace with constant exchanges" and this immensely interactive nature of the world around us ensures that value of anything providing well-being can only be certain in the present.
Professor Dr Choudhury also warned against traditional legal theories and authors that, in their pursuit of the "Islamic" perspective", take on fragmented views of Quranic texts and Sunnah as they approach verses and hadith independently from the cohesive nature of the world.
Professor Masudul Alam Choudhury is currently a Visiting Professor at Department of Shariah and Economics in University of Malaya and is an economist and mathematician by training. He is also a pioneer in the field of epistemological questions of Islamic Economics and Finance. With over 36 years of classroom teaching, research experience, and service contributions in the fields of conventional and Islamic Economics and Finance, Professor Dr Choudhury has published more than 100 refereed papers and over 30 books with leading international publishers. His new theoretical framework in contemporary Islamic sciences termed "Tawhidi String Relationship" is fast growing in popularity in scientific circles, particularly in Indonesia and Malaysia.
SOASCIS is one of the world's leading graduate centres for the study of Islam and contemporary issues. It is a steadily growing centre that attracts students from many parts of the world pursuing Masters and Doctoral studies.
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