Generalobjectives: To provideexposureand understanding ofthe Islamic economic systemandthe differencewiththe conventionaleconomicsystem.

Verifyingandconvincingthatthe Islamic economic systemis abletoprogressthe economiccrisisof conventionalsystems.

Specificobjectives: At theend ofthisunityoushould beable to: List thesources ofIslamic law. Describethe source oflegislation. Describedifferenteconomicsystemsof Islamandthe conventionaleconomicsystem . 2.1SOURCES OFISLAMICECONOMICLAW-THE QURAN. Economiclaw ofIslamaswell asothersources oflawisbased onIslamic law,whichconsistsoftwomain sourcesofal-Quran andAl-Sunnah, and severalother sources, such as consensus, Qias, opinions offriends, 'uruf, ijtihad, andsothatitistihsanamanifestationof thetwomain sources. Al-Quran is theword of/creation ofGod(also the creatorof the Universe, including human beings). AlQuran has6666versesinSura114was revealedtoProphetMuhammadSAWinArabic Al-Quran . containsacompleteandcomprehensiverulesonhowpeopleshouldliveinthis worldtoachievewellbeing.Itis alsothebasis ofsharia, or Islamiclegal authorityagreed upon byall Muslims. Al-Quran isthemost importantsourceofIslamic lawandshould not beprecededbyotherresources Other . sourcesarebased onthe Quran. Al-Quran is aproofqat'i(casting) andany sourceofconflictwiththe Koranisvoid. Verses ofthe Qurancomesintwoforms, namely sectionmuhkamat(bright, clearmeaningandcanbe understoodeasily) andsectionmutasyabihaat(containing somesenseandnottodeterminethe real meaning), which requiresin-depth studytointerpret. 2.2SOURCES OFISLAMICECONOMICLAW-AL-HADITH Al-Hadith areallwords, acts, recognition, approvalandaffirmationof Prophet MuhammadItcameinfourthinthestate: Al-Hadith act asamplifiersand supportersof Al-Quran. This happenswhen thetraditionsarecompatibleandin accordancewiththe Quranin all aspectsofijmal(short) andtafsil(details). For example,Hadith expalian about Islamisbasedonfivepillars testimony of faith,

prayer, zakat,fastingin Ramadan andhajj. ThisHadithimpliesthatthe sameverses of theQuran. Al-Hadith as aparserandinterpreter ofthe Koran. Itgivesmeaningto theQuranic versesthataremujmal(shadow), asAl-Hadith thatexplainshowto pray(pray). Word ofthe messengerS.A.W.'Pray you, as youseemepraying. "Thisrefers totheverseinsurahAl-Baqarah. Al-Hadith as wellasabsoluteproofthatexplainstheversesof the Quranis notlimited. For example,sentencesthat describethe wordhandinsurah38verseanymore . FirmsthatbermaksudnyaGod'man whostealsand thewoman whostoleher handto becut. "Whatismeant by thehands ofthe right handtothe wristas shown by the messenger SAW when

implementing this law. Al-Hadith also nakhsis (specialized) general revelations. For example, Al-Hadith on the Islamic people can not be inherited by the infidels and unbelievers can not inherit a Muslim. Al-hadith Al-Quran verse excludes the common law meaning in the estate of An-Nisa verse 'which means' God will give to you regarding your children. " Al-Hadith as well as legal mansukh (cancelled) contained in the Quran. Al-Hadith means 'There is a will to relatives'. Al-Hadith also repeal the law contained in section 180 of surah Al-Baqarah, which means "prescribed for you when one of them will die, when he left the property so as to make a bequest to parents and relatives with the best. " Al-Sunnah / Al-Hadith is the second legal source after the Qur'an. Al-Quran and Al-Sunnah as proofs qati 'and the absolute truth that can not be disputed because both contain the absolute and fundamental understanding of the doctrine of Islam.
2.3consensusandQias Consensuscanbe definedasan agreementmujtahidscholar-scholars (those whoreallyappreciateandlearn aboutthe religion) ofalaw. Thisconsensusis notinagatheringofscholarswhoagreethatthe samejudge but by chanceascholarwithijtihadis the same , asotherscholarswithoutplanned. For example,thescholarshaveagreed(agreed) that theinterest on the loanisillegal. Qiasalsoisacomparisonofsomething withsomethingfrom a legal perspective. The goalistoget thelaweitheris orisnotillegaltosetalawtoitafter comparingit with somethingsimilarorwhohave beenjudgedthe samein theAl-Quran andAl-Hadith. For example,liquor(alcohol) than(diqias) withNabiz. Inthetexts ofstateliquorwasillegalandnabizthatno injunctionwaslawfulorunlawful This . meansnabizisillegalbecauseit isintoxicatingliquoraswell. Ijtihad isafaqiheffortstogetjustice for any matter whichisnot clearly stated inAl-Quran orAl-Hadith. Itcan only bedonebycertainindividualsofa mujtahid.