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Definition of Islamic Economics تعريف الاقتصاد الإسلامي

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  • S. M. Hasanuz Zaman

    (Chief, Islamic Economic Division State Bank of Pakistan, Pakistan)

Abstract

One way of defining Islamic economics is to qualify the term modern economics with Islam, viz. Islamic economics is `the study of economics in the light of Islamic principles', or `bringing economics in consonance with the Shari'ah'. But this would imply that the definition of the science of economics has a universal acceptability which it does not. Another way of defining Islamic economics would be to accommodate the latest and the least criticised definition of economics and qualify it with Islam. For example, if we accept Robbins' definition of economics, we could define Islamic economics as `a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses, in the light of the Shari'ah'. --

Suggested Citation

  • S. M. Hasanuz Zaman, 1984. "Definition of Islamic Economics تعريف الاقتصاد الإسلامي," Journal of Research in Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 1(2), pages 49-50, July.
    • Handle: RePEc:abd:crieja:v:1:y:1984:i:2:no:3:p:49-50
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    File URL: https://iei.kau.edu.sa/Files/121/Files/153905_Vol-1-2-16E-SMZaman.pdf
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    Cited by:

    1. Ahmed Mohammed, Abdullahi, 2023. "Essay on the Philosophy of Islamic Economics," MPRA Paper 119630, University Library of Munich, Germany, revised 20 Dec 2023.

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