The Holy Prophet (P.B.U.

H)

As Economist and

Educationalist
“An expert of economics is called economist”
Islamic Economics is based on the principles and norms for human welfare derived from Islamic sources
.Islamic finance does not seek to abolish private property, nor does it attempt to prevent the individual
from serving his own self-interest.

Healthy society must have a functioning economic system. Justice and practicality are the main
standards that Islam based on and any successful economic system has to be built on them. The
objective of these standards is to avoid the enmity between different socio-economic parts.

It tries to promote human brotherhood, socio-economic justice and wellbeing of all through and
integrated role of moral values, market mechanism, families, societies and good governance. This is
because of the great emphasis in Islam on human brotherhood and socio-economic justice.

Islam is more diversified and offers a complete economic system with giving the authority to individuals
to get reward of there productive efforts. In Islam are exercised through the democratic process.

Quran says

“And they conduct their affairs by mutual consultation”.

So the head of Islamic state is bound to consult with shura Assembly about the affairs of the state.

According to Holy prophet economics is a basic unit of Muslim society. The holy Prophet was very
mindful about the economic utilization of resources .He disliked to see even the skin of dead animal go
waste. With his instructions in different contexts he build an attitude among his followers about
intensive and efficient use of resources .From such small matters as licking of fingers after food to
explicit prohibition of wasting anything valuable, we find a series of instructions which emphasis
maximum due to utilization of resources. The concept that all the resources are n’aimah (gift) from God
contains a suggestion that they should be utilized carefully.

Prophet Muhammad (SAW) spent his life teaching the principles of Islam and the law laid down by Allah
Almighty to the people around him .The Holy Prophet Muhammad (SAW) says.

“The seeking of Knowledge is obligatory for every Muslim”

At other place He (SAW) sys,

Acquire knowledge and impart to the other. .