Prophet’s
injunction which allows Muslim to save for the future consumption shows the importance
of managing household expenses properly for the benefit of all family members.
The
prohibition of interest rate where people save idle money to get some fixed income
is replaced by the expected rate of return on savings which generates the
savings to get profits.
Conclusion
o
As a conclusion the theory of consumer behaviour
between conventional and Islamic economic systems can be distinguished by
looking into its:
§ postulates
§ and
principles.
o
The Islamic worldview of belief in the oneness of
God and life after death is totally different with conventional secularism.
o
The two methods of positive and normative in conventional
has been used to explain economic phenomenon.
o
Islamic economists meanwhile refer to Islamic
sources and conventional theories that are not contradicted with shariah.
o
While the former is known as the normative the
latter is the positive methods of Islamic economy.
to be continued...
Source: Islamic Science University of Malaysia
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