Introduction
As a complete way of life,
Islam has provided guidelines and rules for every sphere of life and society.
Naturally, a functioning
economic system is vital for a healthy society, as the consumption of goods and
services, and the facilitation of this by a common medium of exchange, play a
major role in allowing people to realize their material and other goals in
life.
Islam has set some
standards, based on justice and practicality, for such economic systems to be
established.
These standards aim to
prevent the enmity that often occurs between different socioeconomic sections.
Of course, it is true that
the gathering of money concerns almost every human being who participates in
transactions with others.
Yet, while these standards
recognize money as being among the most important elements in society, they do
not lose sight of the fact that its position is secondary to the real purpose
of human existence, which is the worship of God.
An Islamic economic system
is not necessarily concerned with the precise amount of financial income and
expenditure, imports and exports, and other economic statistics.
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