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Islamic economics grew naturally from the Islamic revival and political Islam whose adherents considered Islam to be a complete system of life in all its aspects, rather than a spiritual formula [86] and believed that it logically followed that Islam must have an economic system, unique from and superior to non-Islamic economic systems.
Between the 9th and 14th centuries, the Muslim world developed many advanced economic concepts, techniques and usages. These ranged from areas of production, investment, finance, economic development, taxation, property use such as Hawala: an early informal value transfer system, Islamic trusts, known as waqf, systems of contract relied upon by merchants, a widely circulated common currency ...
The concept of profit acts as a symbol in Islam as equal sharing of profits, losses, and risks. The movement started with activists and scholars such as Anwar Qureshi, [ 33 ] Naeem Siddiqui , [ 34 ] Abul A'la Maududi , Muhammad Hamidullah , in the late 1940 and early 1950s. [ 35 ]
Sarekat Islam or Syarikat Islam (lit. 'Islamic Association' [1] or 'Islamic Union'; [2] SI) was an Indonesian socio-political organization founded at the beginning of the 20th century during the Dutch colonial era. Initially, SI served as a cooperative of Muslim Javanese batik traders to compete with the Chinese-Indonesian big traders.
The D-8 Organization for Economic Cooperation, also known as Developing-8, is an organisation for development co-operation among Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey. [3]
Islam [a] is an Abrahamic monotheistic religion centred on the Quran and the teachings of Muhammad, [9] the religion's founder. Adherents of Islam are called Muslims ...
The Arabs transformed agriculture during the Islamic Golden Age by spreading major crops and techniques such as irrigation across the Old World.. The Arab Agricultural Revolution [a] was the transformation in agriculture in the Old World during the Islamic Golden Age (8th to 13th centuries).
The use of the Sunni Islam as a legitimisation of the Ottoman dynastic rule is closely linked to Sultan Süleyman I and his kazasker and later Schaykh al-Islām Ebussuud Efendi. Ebussuud compiled an imperial book of law ( ḳānūn-nāme ), [ 55 ] which combined religious law (sharīʿah) with secular dynastic law ( ḳānūn ) in the person of ...