Economic Development from the Perspective of the Holy Quran

The present paper focuses on economic development as discussed in the holy Quran. It first examines the definitions of the terms 'development' and 'economic development' from the viewpoint of scholars, Islam and the Quran. The suggestions of the holy Quran for economic development are then classified into two types of spiritual and material (such as the impact of piety upon economic development, expenditures for charity, negation of usury as a negative factor in economic development, …) and explained. The results of the analysis revealed that economic development depends on the individuals in a society who should have faith in God and the Book of Revelation and rely on commentator's exegetic interpretations of the Quranic verses and implement Quranic suggestions to attain success; such development takes place when Islamic societies become self-sufficient.