Islamic financing has a social orientation with the priority of moral and ethical principles, since the most important task of Islam is to ensure the well-being of people through the preservation of their lives, minds, honor and property. Such a social orientation makes it possible to determine the main goal of economic development – to ensure social justice in the distribution of the results of economic activity, which is possible through the development of the economy and economic growth.
Based on the above, the modern scholar Hasanuz Zaman gave the following definition of Islamic economics: “Islamic economics is knowledge based on the principles of Islam and its application, aimed at preventing injustice in the process of production and distribution of material resources in order to satisfy human needs and allow them the best to fulfill their obligations to the Creator ”.
Thus, economic relations in Islam are based on the following principles:
Islamic finance is based on the same principles, which is represented by the following institutions operating in accordance with Islamic law:
Additional information: Activities of the Islamic Research and Training Institute at the Islamic Development Bank
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