Sunday, June 22, 2014

The economic system of Islam (3)

Economic behavior is dealt by Muslims as a means of production, distribution, and consumption of goods and services. 
In Islam, human behavior - whether in the economic area or others - is not value free; nor is it value neutral.
It is connected with the ideological foundation of the faith.
The Sources of Islamic Economics
The fundamental sources of Islam are the Quran and the Sunnah of the Prophet.
These provide guidelines for economic behavior and a blueprint of how the economic system of a society should be organized. 
Therefore, the values and objectives of all “Islamic” economic systems must necessarily conform to, and comply with, the principles derived from these fundamental sources. 
The purpose of these articles is to outline the most salient characteristics of an economic system based on the fundamental sources of Islam. 
The focus here is on the principal features of the Islamic system.

 www.islamreligion.com

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