Application of Islamic Consumer Theory: An Empirical Analysis in the Context of Bangladesh

Basharat Hossain


One of the main goals of economics is to satisfy the wants of consumer. Like as conventional economics, Islamic economics has also its own law of consumption which is superior to that of conventional economics. This paper presents an empirical survey report on the application of Islamic consumer theory in Bangladesh.The survey is conducted on 184 graduate students of economics from university of Dhaka, Bangladesh. Besides, the consumption framework of Islamic economics has been discussed in this paper. The research finds that, the majority percent of respondents consider Halal (lawful), Haram (unlawful), economic disadvantages of other consumers, scope of reward and punishment in hereafter life (life after death) in their consumptions and other economic activities. The report explores that, though the wants is unlimited, the respondents are capable to control their wants and choose moderate and simple standard of living. In addition, they mentioned that, the use of interest is not essential to run economic activities and interest free economy is possible. It is found that, a large proportion of the respondents did not study Islamic economics due to unavailability of the reading materials in spite of having their interest while half of the respondents read it. Finally, the opinion is found that, religious and ethical instruments (Zakat, donation, hereafter life etc.) should be included in the syllabus of modern economics in school, college and university level. The findings satisfy the assumptions of Islamic consumption framework. Finally, it presents the problems, prospects and recommendations to apply the Islamic consumer theory in Bangladesh.


Islamic Consumer Theory; Islamic economics; Consumption; Bangladesh

Full Text:



AL-Quran: 2:60,168, 172,215, 3: 180, 4: 36-37, 5: 3-5, 6: 142, 7: 31,157, 16: 114, 17: 26-27, 29, 23: 51, 25: 67, 55:7-9, 65: 7, 89: 20, 102: 1, 104: 1-3.

Al-Bukhari, Sahih; Hadith book, Volume: 3, Hadith No: 275, 470, 492, 514, Vol: 9, Hadith No: 5032, Vol: 10, Hadith no: 5971-5973, 5992-5996, 5997, 6001-2, 6005, and 6019, 6055

Abu-Daud, Hadith book, Hadith no: 2015

Al-Tirmidhi, Ahmad, Hadith book, Vol. 2, Hadith No. 661, 4935.

Ibn-Mazah, Hadith book, Vol. 2, Hadith No. 2153, 4934

Muslim, Sahih, and Hadith book, Vol: 2, Hadith no: 3910-3912, 4956

Al-Zarqa, Muhammad Anas (1992),A partial relationship in a Muslim utility function, in Readings in Microeconomics in Islamic Perspective edited by sayyid tahir,aidit ghazali,syed Omar and syedazil, chapter eight,pp.105-112,first edition,1992,Longman, Malaysia.

Akhter, W., Abbasi, A.S., and Umar, S. Ethical Issues in Advertising in Pakistan: An Islamic Perspective: World Applied Sciences Journal 13, No.3 (2011): 444-452

Amin ,Hanudin; Abdul-Rahman , Abdul-Rahim ;Abdul Razak,Dzuljastri (2014), Theory of Islamic consumer behaviour: An empirical study of consumer behaviour of Islamic mortgage in Malaysia, Journal of Islamic Marketing, Vol: 5, Issue:2, pp. 273 - 301

Ashker, Ahmed El (1985), on the Islamic theory of consumer behaviour: an empirical inquiry in a non-Islamic country, centre for Middle Eastern and Islamic studies, university of Durham, U.K 1985

Beekun, R.I (1997), Islamic Business Ethics, the International Institute of Islamic Thought (1997) pp.2-6

El-Ashker, Ahmed Abdel-Fattah, and Wilson, Rodney (2006), Islamic economics: a short History, edition, 2006, pp.32, published by Koninklijke Brill NV, Leiden, The Netherlands

El-Gamal , Mahmoud A. (2006), Islamic Finance, Law, Economics, and Practice, edition: 2006,pp.188, Rice University, Published in the United States of America by Cambridge University Press, New York

Chapra, Muhammad Umer (1995), Islam and the Economic Challenge, The Islamic Foundation and the International Institute of Islamic Thought, edition: 1995, pp.29

Fetter, Frank A(2003), The principles of economics with applications to practical problems, Online edition,( 2003), PP. 25,by the Ludwig von Mises Institute, 2003, Cornell university, New York, the century co. 1905

Friedman, Milton (1979). The Methodology of Positive Economics, in F. Hahn and M. Hollis, Philosophy and Economic Theory (1979: 19).

GOB (2013), Bangladesh Economic Review 2013, chapter, 13, pp.; 183-189, 279-351, Ministry of Finance, Government of Bangladesh, Dhaka

Groenewegen, Peter (1996), Economics and ethics? Edition: 2003, pp.34, Published in the USA and Canada by Routledge 29 West 35th Street, New York, NY 10001

HaiderNaqvi, Syed Nawaz (1997), the Dimensions of AN Islamic Economic Model, Journal: Islamic Economic Studies, Vol. 4, No. 2, May 1997

Hasan,Zubair (2005), Treatment of Consumption in Islamic Economics: An Appraisal, Journal of Islamic Economics, King Abdul Aziz University, Vol. 18, No. 2, pp. 29-46 (2005 A.D/1426 A.H)

Hasan, Zubair (1985), Fahim Khan; Macro Consumption Function in an Islamic Framework Comments, Journal of Research in Islamic Economics, Jeddah Vol. 2, No. 2, Winter,pp.79-81.

Hamid .M.A (2009), Islamic Economics: An introductory analysis, pp.47, first edition: 2009, published by-Md.Iqbal Aziz Khan, CSE, Rajshahi University, Bangladesh.

Islam, MD.Saidul (2011), The Violent Road to a New Brand of Secularism, Journal of Muslim Minority affairs,Vol.31,No.1,March,2011

Kahf, Monger (1980) "A Contribution to the Theory of Consumer Behavior in an Islamic Society," in K. Ahmad ed., Studies in Islamic Economics, pp. 19-36. Jeddah, Saudi Arabia: International Center for Research & Islamic Economics, King Abdul-Aziz University, 1980.

Kahf, Monzer (1992) The Theory of Consumption, Readings in Microeconomics in Islamic Perspective edited by Sayyid Tahir, Aidit Ghazali, Syed Omar and Syed Azil, chapter four,pp.61-68,first edition,1992,Longman, Malaysia.

Kahf, Monzer (1996), The Demand Side or Consumer Behavior, Principles of Islamic Economics, Chapter four, Kuala Lampur, Malaysia: International Islamic University of Malaysia (IIUM), 1996

Khan, Fahim (1984,1995), Macro Consumption Function in an Islamic Framework, Journal of Research in Islamic Economics., Vol. 1, No. 2, pp. 3-25, 1984 or (Essay in Islamic economics. Islamic foundation, U.K, 1995,

Khan, M. Fahim (1992),Theory of Consumer Behavior in an Islamic Perspective, Readings in Microeconomics in Islamic Perspective edited by Sayyid Tahir, Aidit Ghazali, Syed Omar and Syed Azil, chapter five, pp. 69-80, first edition,1992,Longman, Malaysia.

Khan, Fahim (2013), an Alternative Approach to Analysis of Consumer Behaviour: Need for Distinctive Islamic Theory, Journal of Islamic Business and Management Vol.3 No.2, 2013

Mannan, M.A (1984), the making of Islamic economics society, Islamic dimensions in economics analysis, pp.24, first edition: 1984, published by-International Association of Islamic Banks, Cairo, Egypt.

Peil, Jan and Staveren, Irene van ( 2009), Handbook of Economics and Ethics, edition:2009, pp.54-58, 283-287, Published by Edward Elgar Publishing Limited, Cheltenham, UK ,Northampton, MA, USA

Rahman, Afzal-ur (1975), Economic Doctrines of Islam, Voll-2, pp.16.first edition, May-1975, published by Islamic publication limited, Lahore, Pakistan.

Rice, G. (1998), Islamic ethics and the implications for business, Journal of Business Ethics 18(1998), pp. 345-358

Robbins, L.C. (1932, 1935), An Essay on the Nature and Significance of Economic Science, pp.14, London: Macmillan.

Samuelson, Paul. A., Nordhaus, William D. (1998), Economics, 16th edition, pp. 5, the McGraw-Hill companies Inc. USA

Sen, A. et al. (1987), the Standard of Living, Cambridge: Cambridge University Press.

Sen, A. (1988), On Ethics and Economics, pp. 2-10, Oxford and New York: Blackwell publishing.

Siddiki, M.N (1988), Islam: source and purpose of knowledge: proceedings and selected papers of Second Conference on Islamization of Knowledge, 1982, PP. 170-171, published by International institute of Islamic thought (IIIT), 1988

Siddiki, M.N (2001), Economics: An Islamic Approach, PP.71-81, Institute of Policy Studies, 2001, original from the University of Michigan, digitized 2009

Siddiqi, M.N. (1992) Islamic Consumer Behavior, in Tahir et al: Readings in Microeconomics in Islamic Perspective, Longman Malaysia, pp.49-60.

Smith, Adam (1776), An Inquiry into the Nature and Causes of the wealth of nation, Vol: 1, pp.14, edition: 1981, published by Liberty Press: Liberty Classics, 7440 N. Shadeland, Indianapolis, Indiana 46250

Tabari (1990), The History of al-Tabari: Caliphate of Umar, edition: 1990, Vol. 2, P.-378 published by State University of New York Press

United Nation (2012), World Population Prospects: 2012 revision, pp.; 41-51, Department of Economic and Social Affairs Population Division, United Nations

Weber, Max (1958), the protestant ethic and the spirit of capitalism, New York: Charles Scribners Sons, pp.26



  • There are currently no refbacks.

Copyright (c) 2014 Basharat Hossain


Global Review of Islamic Economics and Business

ISSN: 2338-2619 (p); 2338-7920 (e)

Published by:
Faculty of Islamic Economics and Business
State Islamic University (UIN) Sunan Kalijaga

In cooperation with:
Consortium for Islamic Economics

Creative Commons License
All publications by Global Review of Islamic
Economics and Business are licensed under a 
Creative Commons Attribution-ShareAlike 4.0
International License


Indexed by: 

SINTAGarudaGoogle ScholarNelitiMorarefIndonesia One SearchOCLC WorldCatBase