The Right of Peoples to Access Equitable Financial Resources: Islamic Sharia and International Development Law

Abstract

The right of peoples to access equitable financial resources, as one of the fundamental prerequisites for achieving sustainable development, has in recent decades become a central issue in the discourse of economic justice and international development law. This article adopts a descriptive–analytical and comparative approach to examine the jurisprudential foundations of this right in Islamic Sharia and to analyze its status within the instruments and mechanisms of international development law. In the first part, relying on Qur’anic teachings concerning justice and equity, as well as institutional mechanisms such as zakat, khums, bayt al-mal (public treasury), anfal (public resources), and the prohibition of riba (usury), a legal–institutional framework is articulated for ensuring equitable wealth distribution and preventing the disproportionate concentration of financial resources. The findings indicate that in Islamic economic jurisprudence, financial justice constitutes not merely a moral virtue but a binding obligation imposed upon both government and society to eradicate poverty, secure minimum livelihood standards, and safeguard human dignity. In the second part, through analysis of the “right to development” within international instruments—particularly the United Nations Declaration on the Right to Development—and examination of the roles of institutions such as the United Nations, the International Monetary Fund, and the World Bank, the structural challenges of the global financial order, including external debt, inequalities in capital flows, and politically conditioned financing arrangements, are evaluated. The results demonstrate that although significant normative convergence exists between the objectives of Islamic Sharia and international development law regarding poverty reduction and inequality mitigation, fundamental differences remain in sources of legitimacy, implementation mechanisms, and enforcement guarantees. Finally, the article proposes an integrative model emphasizing the capacity of Islamic financial instruments—such as sukuk, waqf, and zakat funds—to reform global financial architecture and strengthen distributive justice. This model may provide a foundation for redesigning development financing mechanisms and enhancing the right of peoples to equitable access to financial resources at both national and international levels.