What is Islamic Economic System? Meaning, Definition, and Example

AIMS Education 2024-12-13

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The Islamic economic system is a framework for organizing economic activity based on principles derived from Islamic teachings, primarily the Quran and Hadith.

For complete lecture,https://www.youtube.com/watch?v=BEqvXsO0XdA


The definition of the Islamic economic system revolves around promoting justice, fairness, and social welfare through ethical guidelines in business, trade, and finance. In an Islamic economy, the prohibition of interest (riba), the encouragement of risk-sharing, and the emphasis on charitable giving (zakat) are key components.

The system aims to create a balanced and sustainable economic environment where wealth is distributed equitably and economic activities serve the common good.

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https://aims.education/islamic-banking-and-finance-institute/
Certified Islamic Banker (CIB)
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