Islamic economics has demonstrated significant practical achievements, especially in Islamic finance through the development of Shariah-compliant financial instruments. Despite these advances, existing scholarship continues to reveal a persistent gap between theoretical conceptualizations and their practical implementation. Moreover, limited attention has been devoted to integrating indigenous economic practices into Islamic economic thought, particularly in West African countries. This study addresses this gap by proposing a theoretical and methodological framework that bridges Islamic economic principles with local systems of production, consumption, and distribution. Adopting a descriptive and analytical approach, the research develops the Shared Economic Capabilities Theory, a conceptual model grounded in both the operational experience of Islamic financial institutions and the long-established traditions of economic cooperation practiced by local communities in the member states of the West African Economic and Monetary Union (WAEMU). The proposed framework offers an applied model for reconstructing the Islamic market by aligning Islamic economic principles with local socioeconomic realities, thereby contributing to a more context-sensitive and operationally viable approach to Islamic economic development