ISLAMIC ECONOMIC APPROACH TO SULU DEVELOPMENT: AN ALTERNATIVE MODEL

Islamic finance, halal industry & ethical markets By Hasanul Basariy B. Alam (Mindanao State University - Sulu) Published August 16, 2025 Vol 4 • Issue 1

Abstract

With the improvement of peace and order in Sulu today, development bottlenecks can be easily addressed. Lack of investment, lack of corporate skills of doing business, widespread poverty, and poor delivery of basic services are the major bottlenecks standing against the development growth in Sulu. Basic services and local investment programs of the local government units require effective implementation to create employment and improve the welfare of the poor. Market cannot prosper if poverty persists among the Tausug. Poverty perpetuates itself if traders, leaders, and the people in general practice riba. Sulu’s economy is viewed as peasant economy. Family is still the economic unit of production. It follows a traditional culture of farming which is limited only to family consumption. The people suffer under dog position.