Islamic Financial Planning Towards Sustainable Eco-Growth

Abstract

Financial planning is undeniably important from an Islamic perspective; Muslims must be rich not only spiritually but also materially. This chapter discusses the importance, components, and processes of Islamic financial planning and the means of achieving the goals set out in a financial plan. Three major instruments, such as wasiyah(bequest), waqf(endowment), and hibah (gift), are recommended as financial pro- ducts used by financial institutions and professional organizations that can help Muslims meet their individual needs when it comes to managing and enhancing their financial plans.