Thursday, February 11, 2016

Islamic economic system: from principles to microeconomics and macroeconomics fields (16)

The authors continue with about restrictions and limits of economic relations defined by Islamic economy.
They note:
No unnecessary curbs are placed on:
o   the individual;
o   or the organization
regarding earning or owning of wealth.
No upper limit or ceiling is imposed on properties or holdings.
Besides restrictions of Halal and Haram, other restrictions are rarely placed on:
o   economic activities;
o   prices of goods;
o   ownership;
o   or on monopolies
unless the same are really necessary for safeguarding the common interest of Muslim community.

Used from paper of  Abdul Ghafar Ismail and  Noraziah Che Arshad

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