Tuesday, July 1, 2014

The economic system of Islam (6)

It is through justice that the existence of the rules governing the economic behavior of the individual and economic institutions in Islam can be understood. 
Justice in Islam is a multifaceted concept, and there several words exist to define it. 
The most common word in usage which refers to the overall concept of justice is the Arabic word “adl”. 
This word and its many synonyms imply the concepts of “right”, as equivalent to fairness, “putting things in their proper place”, “equality”, “equalizing”, “balance”, “temperance” and “moderation.”
In practice, justice is defined as acting in accordance with the Shariah, which, in turn, contains both substantive and procedural justice  covering economic issues. 
Substantive justice consists of those elements of justice contained in the substance of the Shariah, while procedural justice consists of rules of procedure assuring the attainment of justice contained in the substance of the Law. 
The notion of economic justice, and its attendant concept of distributive justice,  is particularly important as an identifying characteristic of the Islamic economic system. 
www.islamreligion.com

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