Monday, January 19, 2015

The theory of consumer behavior (8)

According to Khursid Ahmad:
“The Islamic concept of rationality does not deny either the internal consistency of axioms and postulates or self interest as one of the main determinants of human behaviour.
It puts a restrain on self interest by linking it with individual and social responsibility and morality in general”.
Therefore Islamic jurisprudence or shariah serves as a moral and legal framework to control and shape self interest of the people in the society.
For example, the obligation of zakah creates the concept of brotherhood among Muslims society.
In which wealthy people pay specific amount of money or goods to the zakah institutions to be distributed to the poorer and the needy.
Apart from that the concept of wasatiyyah, which means moderation, is emphasized to avoid people living beyond means while other section of society deprived.
to be continued...

Source: Islamic Science University of Malaysia

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