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Islam has a set of specific moral norms and values about individual and social economic behavior. Therefore, it has its own economic system, which is based on its philosophical views and is compatible with the Islamic organization of other aspects of human behavior: social and political systems.
what involves acts of interaction and exchange of sureties and sales (Oxford Dictionary of Islam); [10] “the knowledge of Shariah rulings that relates to the practical aspects of a mukallaf (an accountable Muslim, i.e. an adult and mentally competent) in the area of business and financial dealings and derived from its detailed evidences ...
Electronic business (also known as online business or e-business) is any kind of business or commercial activity that includes sharing information across the internet. [1] Commerce constitutes the exchange of products and services between businesses, groups, and individuals; [ 2 ] and can be seen as one of the essential activities of any business.
A market economy was established in the Islamic world on the basis of an economic system resembling merchant capitalism. Capital formation was promoted by labour in medieval Islamic society, and financial capital was developed by a considerable number of owners of monetary funds and precious metals.
Islamic neo-traditionalism is also known as Wasatism (Arabic: وسطية), and both terms are used interchangeably to refer to the strand of Islam which is the via media between traditional, textually-orientated strands such as Maddhabist traditionalism, Salafism and anti-traditional, culturally-orientated strands such as modernism and progressivism.
[27] [28] Still another source (International Business Publications) states that during the "Islamic Golden Age" the "common view of riba among classical jurists" of Islamic law and economics was that it was unlawful to apply interest to gold and silver currencies, "but that it is not riba and is therefore acceptable to apply interest to fiat ...
Traditional Islamic schools and branches; Islamic mythology, the body of traditional narratives associated with Islam; Islamic philosophy, a development in philosophy that is characterised by coming from an Islamic tradition
Islamic modernism is a movement that has been described as "the first Muslim ideological response to the Western cultural challenge", [Note 1] attempting to reconcile the Islamic faith with values perceived as modern such as democracy, civil rights, rationality, equality, and progress. [2]