Islamic Economic System: Meaning and Characteristics

The economic system is the economics that is carried out in pratik. Economics is a science that studies the behavior of human beings, whether as individuals or groups of society, can take the form of legal entities or not, and can also form a ruler or government, in fulfilling the needs of his life, both material and spiritual, physical and spiritual needs, and needs it tends to lead to unlimited, whereas the source of the fulfillment of such needs is very limited. Such political or economic behavior is in what way, for what and by whom the organization of factors of production is carried out: the distribution of goods and services and the designation and enforcement of it in a country.

Thus, the Islamic economic system is the application of economics in daily pratik for individuals, families, community groups, and governments in order to organize factors of production, distribution, utilization of goods and services produced and subject to Islamic rules or legislation. the most important sember of Islamic economic system is al-Quran and al-Hadith and economic behavior in the time of the Prophet SAW and his companions. Islamic economic system is an independent economic system, not a liberal economic system, communist, socialist, capitalist or economic system mix. Islamic economic system has its own characteristics that are different from other systems.

By; @akhyasad