The Role of Government, Society, and Al-Hisbah in the Three-Sector Economy: An Islamic Economic Perspective

Abstract

This study aims to examine the role of government, society, and the al-hisbah institution in the three-sector economy from the perspective of Islamic economics. The government functions as regulator and stabilizer through fiscal and monetary policies, designed not only to sustain growth but also to ensure equitable distribution of wealth. Society plays a dual role as both an economic actor and a moral supervisor, contributing through productive activities, public asset management, and social solidarity mechanisms. The al-hisbah institution complements these roles by enforcing ethical supervision of markets, ensuring honesty in transactions, product quality, and protection of consumer rights. The research employs a library study method by reviewing recent academic literature published last five years via Google Scholar. The findings highlight that Islamic economic development can only be realized through synergy between government, society, and al-hisbah, thereby creating an inclusive, fair, transparent, and sustainable system capable of addressing global as well as local challenges.