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Islamic Economics

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

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

Master and Doctorates for the Middle East Students

Learning materials in English or Spanish Economía Islámica French Économie islamique Portuguese Islão

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

Description of the Sub-Subject: 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 Civilisation 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 the economic progress, but preserving the morality and the Islamic values, with its characteristics and differentiated in relation to the capitalist economy of the 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. This act is considered mandatory from a legal standpoint.

For the agricultural products, precious metals, minerals, and livestock, the Zakat vary between 2.5 (1/40) and 20%, depending on the type of goods.

3- Prohibition of interest (Riba).

Harmony of Religions

Ethics Islam

Mohammad Abdul Mannan:
Mohammad Abdul Mannan Muslim Banker

Arab Fund for Economic and Social Development

Religions and International Business



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