PasarMalam and PasarPaghi: Grassroots Application of Islamic Ontological Methodology

PasarMalam and PasarPaghi: Grassroots Application of Islamic Ontological Methodology

Masudul Alam Choudhury (University of Science and Technology, Bangladesh)
DOI: 10.4018/978-1-7998-0218-1.ch008
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Pasar Malam (Night bazar) and Pasar Paghi (Morning bazar) are grassroots microenterprises in Malaysia and Indonesia. They combine traditional approach with the scope of modernizing to develop beyond restrained bounds. This chapter recognizes the potential for further organized ways of developing the grassroots enterprises through participatory development of enabling social choices. These opportunities are explained to expand from grassroots to institutional levels, technological appropriateness, and cooperative financing. All are taken up within the sustainability of life-fulfillment regimes of wellbeing and dynamic basic-needs regime of development. In Islamic nomenclature the wellbeing criterion is referred to as maslaha. It denotes the conceptual and quantitative measure of degrees of complementarities between the variables representing choices in the formal evaluative function. This study generalizes the resulting empirical model of wellbeing to strategy and policy implications of a generalized example of the grassroots.
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Because of the potential clientele that PasarMalam and PasarPaghi serve, it is important to study the possibilities of financial and human resource development that can be mobilized to enable the marketers of PasarMalam and PasarPaghi towards innovative and organized economic, financial, and social futures.

The objective of this paper is to formalize such multiple interrelationships that can be generated between microenterprise, social caring (government), and economic and financial resources (banking and private sector). The formalism assumes a systemic ensemble between these groups by the active use of the underlying instruments. This paper will examine such a possibility of developing a formal model of inter-entity organic synergy by the use of appropriate economic and financial instruments and strategic and policy structures. All this is organized in due observance of the modernizing capability of the life-sustaining ways of basic-needs regime of development.

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