Islamic Economics

EENI- School of International Business

Sub-subject: Islamic Economics. Zakat. Hawala. Waqf Fund. Syllabus:

  1. Principles of the Islamic Economics
  2. The importance of Zakat
  3. Islamic Banking
  4. Hawala.
  5. Waqf Fund
  6. Islamic Economists:
    - Dr M. Umer Chapra
    - Dr Kurshid Ahmad
    - Muhammad Abdul Mannan
  7. Islamic consumer behaviour
  8. Halal Certificate
  9. Islamic Chamber of Commerce and Industry
  10. Arab Development Funds
Sub-subject “Islamic Economics” is studied…
  1. Masters (e-learning): International Business, Muslims Countries
  2. Doctorates: Ethics, Religion, and Business, Islamic Countries

Master for the Middle East Students

Learning materials in En or Es Economía Islámica Fr Islam Pt Islam

Sample of the sub-subject: Islamic Economics (Islamic Development Bank):
Islamic Economics Zakat

Sub-Subject Description: Islamic Economics:

The principles of the Islamic economics are based on the Quran, the Sharia, the Sunnah, and the Hadith (Muhammad's examples and words), like any other aspect of Islam (Islamic Civilisation).

As we have seen, the concept of economic system in the West and the Islamic world is very different, while the first tends to a secularisation of the economy, in the Islamic countries the religion should play a fundamental role.

Therefore, some scholars speak of an Islamic economics (since the 60s), which seeks economic progress, but preserving morality and the Islamic values, with its characteristics and differentiated in relation to the capitalist economy of Western countries or the socialist economy.

Buddhism also developed the concept of Buddhist Economics.

The central features of the Islamic economics are:

1- Rules of conduct and ethics derived from the Quran and Sunnah.

2- Zakat tax as the basis of the Islamic fiscal policy.

A good Muslim should pay annually 2.5% of his assets of his net wealth, to benefit the poorest brothers. For agricultural products, precious metals, minerals, and livestock Zakat vary between 2.5 (1/40) and 20%, depending on the type of goods. This act is considered mandatory from a legal standpoint.

3- Prohibition of interest (Riba).

Harmony of Religions

Ethics Islam

Mohammad Abdul Mannan:
Mohammad Abdul Mannan

Arab Fund for Economic and Social Development

Religions and International Business



EENI Business School