Characteristics of Islamic Economics

Characteristics of Islamic Economics - In practice, those principles gave rise to the following things which later became the hallmark of Islamic economy (Mohammad, 1992; 62-65):
  1. Ownership. Therefore man serves as a Caliph who is obligated to manage a la mini to the benefit of humanity and he is obliged to account for natural resource management. In the exercise of his duties, he was able to gradually make up the wealth of theirs. His work is currently used to meet his needs and his family, and partly for the benefit of the community. Although he had it, but he was not allowed to spoil it or burn it, or create ownership internally displaced persons, bearing in mind that this is relative and is also the surrogate of Allah (Muhammad, 1992: 62-65).
  2. This, despite the relative ownership, carrying the obligations to be met while already to some extent, to pay the wealth of zakat. At any given time, possession of it should be passed on to relatives with certain rules. This ownership despite relative transferable to institutions of Islam to be communal. These endowments thus goods belong to the community which must be respected by anyone as well (Mohammad, 1992; 62-65).
  3. Become a private capital for the company, or took part of the capital are offered for investment. The company gave a profit can be even possible losses. Because it does not want to bear with the loss, the owner of the interest of capital the company imposes. Obviously it is not permissible in Islam. Similarly if we borrow the money to the bank we have to pay interest on capital, but if capital is used for his own company, under the pretext of "cost of money" he takes into account the interest (Mohammad, 1992; 62-65).
  4. Because it may have something as a privately owned, owners wishing to catcheth any needs at any time or for speculation in the market. This is not God willing blessed to spend it in order for the ordered created new revenue for the community.
  5. Execution of the order to vie for doing well. This can be understood in two ways. First do good deeds and second or improvement of the quality or quality.
  6. Thaharah or purification (cleanliness).
  7. The products of goods and services must be lawful.
  8. The balance. God does not want someone to spend effort and time to serve in the narrow sense, but should also pursue its life in the world. In pursuit of his life in the world is also not to be wasteful, but also should not be stingy.
  9. Labor Wages, profits and interest. Wage labor attempted to match the achievements and needs of his life.
  10. Wages must be paid before they are dried sweat.
  11. Works well is to worship in a broader sense.
  12. Honesty and great promise.
  13. Smooth development. The aforementioned characteristics can guarantee that the construction can be carried out with the lancer.

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