Concept of Economics in Islam

 Economic progress is desirable for humans and islam earns by halal levelihood is
a religious requirements.
 Economic progress should not be the goal or objective of Muslims in Islam
economic activity is a means to an end and not an end in itself.
 Difference in purpose is fundamental and is the basis for all other differences
between Islamic and western views.
 Sharia in all spheres is built with the goal of promoting a community feeling and
cooperation among all members of society.

Why Economics is Important in Islam?

 Defines the five basic where is that will be made to everything on the day of
judgement.
 The wealth that is what means city and his wealth and how did he spend as well
so every learning must come from halal means I must be spent on halal categories
of expenditure Islamic.

Islamic Economics Order in the Quran

 Universal Philosphy.
 Comprehensive Revolution.
 Human Economic Life.
 Guidance in all Subjects of life includingsSpiritual, Ethical & Political.

Principles of a Good Economy System

 Suffice for every individual of the society.
 Destroy all such causes and means that lead to corruption.
 Discourage concentrationof wealth in the hands of am individual or a group.
 Bring a proper balance between capital and labour.

What Makes an Economics Order Good or Bad?

 Is good or corrupt it depends on whether the incentive and objectives are good or
not corrupt.
 However the objectives and incentive a good economic order should not be
profit-making but the complete satisfaction of human needs.

Key Features of an Islamic Economic Order

 Satisfies the human needs of individual and society.
 Largest possible number of earners, who are encouraged to spend
 Includes all the good aspects of other economic systems.

Islamic Economic Order in the Light of Quran

 According to the holy Quran the principles of economics cover equality and the
infamous ability of hoarding.
 Accumulation Allah didn't make humans equal in grades of economics assistance.

Impermissibility of Hording amd Accumulation in Islam

 Paying Zakat.
 Giving in Charity.
 Spending in Allah’s path.