2025 SWAT

This paper investigates the Quranic term al-Falāḥ and its interpretation within the modern Islamic economic thought framework. Drawing on a thematic and comparative literature review, this study synthesizes the perspectives of prominent scholars, including M. Umer Chapra, Monzer Kahf, Abbas Mirakhor, Muhammad Akram Khan, Asad Zaman, and Hossein Askari.The analysis, combining Qur'anic semantic inquiry with an interpretive study of scholarly works, reveals that al-Falāḥ is a multidimensional concept transcending material prosperity, encompassing spiritual, ethical, and social well-being. The findings suggest that these thinkers collectively position al-Falāḥ not as a passive theological ideal, but as a systemic, normative objective that guides economic behavior and institutional development. The paper argues that a renewed, comprehensive understanding of al-Falāḥ is crucial for contemporary reforms in Islamic economic theory and practice, addressing the significant gap between the ideal vision and its current implementation in Muslim-majority countries.