While addressing various concepts and phenomena related to Islamic Economics, the significance of faith and morality needs to be highlighted.
Faith is one of the basic pillars of a nation’s economic, social and political system. Faith essentially means conviction or trust in moral values. Faith has a very important role in Islam and in the application of the principles of Islamic Economics.
Islamic Economics is a distinct branch of knowledge, based on belief in ‘the submission to the will of Allah’ and on Tawheed. It rests on the dictums of the Quran and prescriptions of the Hadith – so it is free from doubt, difference of opinion and meaningless debate.
Values may be positive ( adl, ihsan, amanah, sabr & istislah) or negati ve ( zulm, bukhl hirs, and israf)
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