This article argues that the Muslim Ummah has a legitimate right to economic self-determination in terms of identifying and advancing the idea and body makeup of international economic law identified as economic Siyar. It rediscovers and reformulates Islam's own concept of progress and development in the context of the challenges of present reality, within the larger processes of world legal, political-economic and social history. It puts forward a realistic Shariah model in reinforcing and regulating trade, monetary, and development relationships amongst Islamic states. On the broader international cooperation, the Muslims are expected to advance their peculiar and universal humanity's economic and development interests through bilateral, multilateral, and plurilateral arrangements in the true spirit of international cooperation consistent with the accepted norms of international fairness and justice. On the whole, this article in its modest way proposes a general framework of economic Siyar, which could become an impetus for the Muslims to reformulate their economic and development approach in facing the complex and scheming global challenges and thereby contribute to a just world economic order.