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Islamic Economics - Hussein Muhammad Samhan (2014)

Islamic Economics - Hussein Muhammad Samhan (2014)

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Dar Almassira

Despite the immense material achievements of global civilization, it has resulted in a dismal failure in the spiritual, ethical, and humanitarian fields, establishing the law of the jungle in the world: "Might makes right." On the economic level, secular (or positive) economics today suffers from severe intellectual sterility, manifested in its inability to find the necessary solutions to economic problems, which has become a nightmare for people all over the world.

This calls us to say that the Arab and Islamic nation is now, more than ever, invited to return to its intellectual state and the path of its glory and sovereignty, so that its civilizational role may shine again, to become as it was "the best nation produced for mankind," a guiding light and a beacon to be followed. Allah Almighty revealed the Islamic Sharia as a complete and integrated system that falsehood cannot approach from before it or from behind it, with interconnected rulings and consistent domains, organizing political, economic, and social affairs.

Given the importance of the economic aspect and its role as a major nerve in the life of peoples and nations, the Sharia has given it attention commensurate with the role it plays. Islamic economics is based on fixed principles (with no room for ijtihad, unchanging with time or place), and on a variable aspect, representing the legislative void, which the Lawgiver has delegated to those in authority and the people of ijtihad to fill according to the requirements of each era and country. This reflects the ability of Islamic Sharia to evolve to meet the interests of nations and keep pace with the times.

This economy also combines the individual aspect, which is based on the theory of stewardship (Istikhlaf) "Wealth is Allah's, and humans are its trustees," with the collective aspect, which is concerned with macroeconomics "such as rationalizing the use of resources, solving the problem of unemployment, treating the issue of poverty, and achieving comprehensive development... and so on."

In this humble work, we aimed to shed light on the economic concepts and issues abundant in Islamic Sharia, presenting them in a format that is easy for our students to understand, and highlighting the characteristics that distinguish Islamic economics from positive economies in its most important areas (ownership, economic freedom, state intervention, production, consumption, income and wealth distribution, banking, finance, and development).

We have also tried, as much as possible, to make comparisons—as needed and relevant in the context—between our Islamic economy and the positive economy, so that the student can see the uniqueness of the Islamic economy compared to all secular economies, its distinction with values of truth, virtue, and justice, and its ability to meet and provide the material needs of society's members and to create balance and social solidarity in the community.

It is worth noting that we do not claim perfection in this limited effort, for perfection belongs to Allah alone. It is enough for us that we have striven to the best of our ability; if we have erred, it is from ourselves, and if we are correct, it is by the grace of Allah, the Most High, the Almighty.

  • Number of Pages: 296
  • Year of Publication: 2014
  • Binding Type: Paperback
  • Edition Number: 2
  • Print Color: Black
  • Size (cm): 17x24
  • Weight (kg): 0.600
  • Barcode: 9789957066246
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