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Understanding Islam: Development, Economics and Finance

Author

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  • Askari, Hossein
  • Iqbal, Zamir
  • Krichene, Noureddine
  • Mirakhor, Abbas

Abstract

In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Quran and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure, which in turn, underpin the path of economic and social progress. The essential elements in the life of a Muslim—the unity of creation, freedom and freedom of choice, economic and human development, economic system and financial practice—are developed.

Suggested Citation

  • Askari, Hossein & Iqbal, Zamir & Krichene, Noureddine & Mirakhor, Abbas, 2013. "Understanding Islam: Development, Economics and Finance," MPRA Paper 56016, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:56016
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    References listed on IDEAS

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    Cited by:

    1. Noor Fatima & Muhammad Zubair & Zubair Sarfaraz, 2018. "Institutional Setup in Market Economy and Islamic Property Rights," Global Economics Review, Humanity Only, vol. 3(1), pages 12-20, June.

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    More about this item

    Keywords

    Islam; Finance; Economics; Development;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P40 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - General
    • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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