Understanding Islam: Development, Economics and Finance

Hossein Askari (), Zamir Iqbal, Noureddine Krichene and Abbas Mirakhor ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Quran and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure, which in turn, underpin the path of economic and social progress. The essential elements in the life of a Muslim—the unity of creation, freedom and freedom of choice, economic and human development, economic system and financial practice—are developed.

Keywords: Islam; Finance; Economics; Development (search for similar items in EconPapers)
JEL-codes: O10 P40 P50 (search for similar items in EconPapers)
Date: 2013-11
New Economics Papers: this item is included in nep-his and nep-hpe
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Citations: View citations in EconPapers (1)

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