Islamic Values in Sustainable Economic Growth Planning: The Case of Indonesia and Brunei Darussalam
Atih Rohaeti Dariah, Asep Ramdan Hidayat and Rose Abdullah

1 Faculty of Economics and Business, Universitas Islam Bandung, Indonesia
2 Faculty of Islamic Law, Universitas Islam Bandung, Indonesia
3 Faculty of Islamic Economics and Finance, Universiti Islam Sultan Sharif Ali, Brunei Darussalam

Abstract

Indonesia and Brunei Darussalam are Muslim-majority countries. This article aims to study whether Islamic values have contributed to the direction of sustainable economic growth plan in these two countries by examining the substance of the development plan. This study use content analysis of the Al-Quran in examining the Indonesian Mid-Term Development Plan (RJPMN) 2020-2024 document and the 2018-2023 Brunei Darussalam Eleventh National Development Plan. The results of the study show that Indonesia has presented a plan for achieving Sustainable Economic Growth, starting from the principles and mainstreaming of development, development agendas to the formulation of targets and indicators. However, Islamic values are not present explicitly to become a spirit or foundation in the planning. Meanwhile, Brunei Darussalam emphasizes its achievement plan of Sustainable Economic Growth on diversifying the non-oil and gas economy. Nonetheless, Brunei Darussalam has the eminence, that it applies Islamic values as guidance in every efforts for Sustainable Economic Growth which prioritizing more to the formation of human capital who have competence, skills and Muslim personality. Notwithstanding, there are still gaps in the formulation of a non-oil and gas economic development plan which economically, socially, and environmentally integrated based on Islamic perspective.

Keywords: Sustainable Economic Growth, National Development Plan, Islamic Perspective

Topic: Economic Welfare in Terms of Islamic Perspective