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The Economic Sharī‘ah of Islam


The economic law of Islam has been revealed by the Almighty through His last Prophet (sws) for the purification of the economy. It is based on the Qur’ānic philosophy of creation. According to this philosophy, the Almighty has created this… Read More ...

The Divine Law » Economics »
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Documentation and Evidence


This verse directs the Muslims to document monetary transactions whether in cash or in credit to safeguard against any dispute that may arise. Imām Amīn Ahsan Islāhī has summarized the directives mentioned in this verse in his Tadabbur-i Qur’ān in… Read More ...

The Divine Law » Economics »
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Commercial Interest is not Forbidden in Islam


There are people who think that interest charged on ventures which are commercial in nature is not forbidden.
While clarifying this misconception, Ghāmidī writes: 

It should remain clear that whether a loan is acquired for personal, business or… Read More ...

The Divine Law » Economics »
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Interest can be taken from Non-Muslims


It is believed by some scholars that interest can be charged from Non-Muslims.
It needs to be appreciated that taking Interest is prohibited from a human being, whether he is a Muslim or a non-Muslim because of the fact… Read More ...

The Divine Law » Economics »
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Formation of a Public Sector


مَا أَفَاءَ اللَّهُ عَلَى رَسُولِهِ مِنْ أَهْلِ الْقُرَى فَلِلَّهِ وَلِلرَّسُولِ وَلِذِي الْقُرْبَى وَالْيَتَامَى وَالْمَسَاكِينِ وَابْنِ السَّبِيلِ كَيْ لَا يَكُونَ دُولَةً بَيْنَ الْأَغْنِيَاءِ مِنْكُمْ (7:59)
Whatever the Almighty has bestowed on His Prophet from the people of the cities, it… Read More ...

The Divine Law » Economics »

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