presentation on islamic economics

7/31/2019 Presentation on Islamic Economics

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Assalamu Alaikum


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Welcome to all in my presentationIll present here Islamic Economics

Key points:

Concept of Economics. Concept of Islamic Economics.

Principles of Islamic Economics.

Differences between Islamic Economics And

Conventional Economics. Conclusion.


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Presented by:Nazmul Hassan Baeyazid

Program: BBA

Batch : 13th(D)

ID : BBARM13101135Semester : Summer

Department of Business Administration

Bangladesh Islami University


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Concept of Economics Economics is the study of the production and consumption of goods and the transfer of wealth

to produce and obtain those goods. Economics explains how people interact within markets to

get what they want or accomplish certain goals. Since economics is a driving force of human

interaction, studying it often reveals why people and governments behave in particular ways.

Economicsis the social science that examines how people choose to use limited or scarce

resources in attempting to satisfy their unlimited wants.

The study of how the forces of supply and demand allocate scarce resources.


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Concept of Islamic Economics. Islamic economics refers to the body of Islamic studies literature that "identifies

and promotes an economic order that conforms to Islamic scripture and traditions,"

and in the economic world an interest-free Islamic banking system, grounded

in Sharia's condemnation of interest. The literature has been developed "since the

late 1940s, and especially since the mid-1960s." The banking system developedduring the 1970s. The central features of Islamic economic literature have been

summarized as the following: "behavioral norms" derived from the Quran

and Sunna, zakat tax as the basis of Islamic fiscal policy, and prohibition of interest.

Islamic Economics is a science by which best allocation and use of both humanand natural resources could be ensured in the light of the Islamic rules to attain

economic development of society without unnecessary interference to individual

freedom, traditional micro and macro economic practice.


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Principles of Islamic Economics. Muslims are not to deal in interest.

It is forbidden to gain property or wealth by fraud, deceit, theft, or other falsehoods.

It is particularly hateful for a guardian to take from an orphan's property.

Forbidden are earnings from gambling, lotteries, and the production, sale, anddistribution of alcohol.

It is unlawful to hoard food and other basic necessities.

A Muslim should be responsible in spending money

Muslims must pay Zakat (alms).

Muslims are encouraged to give constantly in charity.


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Islamic Economics vs. Conventional

Economics

To compare Islamic economics with conventional economics (capitalism and socialism), we

would critically evaluate both systems based on several common criteria. These criteria are

selected because both systems have their own distinctive features in providing mechanism and

solutions to the real-world problems. Hence, with the common criteria of comparison, it is

hoped that we could clearly see the difference between Islamic economic system and the

conventional economic system.

We found that Islamic economics and the conventional economics are different in term of these

six criteria:

1. Definition of economics.

2. Ownership of property.

3. Role of government.

4. Incentive mechanism.

5. Organization of decision making.

6. Activitiesconsumption, production, distribution and exchange.


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Thanks to all

presentation on islamic economics

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