Islamic Economic Policy Elements

Islamic Economic Policy Elements - Due to the cooperation and economic justice is a spirit of Islamic Economics, or the soul doctrine of unity, then it needs to be drawn up a draft structural type in order to translate this spirit into reality and especially to meet the needs anywhere and at any time.

A number of elements can contribute to the preparation of the draft structural like this. Elements of it are as follows:

1. Since the beginning of Islam recognizes the position of the Government in economic management. In any society which organized all the authority supervising the ruler/, coordinate and give direction to her economy to move. The Government is required to finance certain expenditure as expenditure-has been established. In a more complex economic environment such as in recent years, the Government's main task is to meet the specific needs of the public, and for this the Government is required to ensure smooth economic activities. This principle can be defined from the Shariah in relation to the needs of the time and place specified. For example, in terms of monetary management concerns the reserves and the allocation of money, participation in the production of public goods and others.
2. The private Sector, seen as very important in the economic activities of the community. Creativity and individual initiative is appreciated in economic organization schemes according to Islam. Individuals fully recognized for owning and decided according to economic activities of their choice within the framework of the rules of Sharia. The Islamic approach to the role of individuals in an economy is through the religious impulse which is inherent in the economic system. The rules of law applied to a minimum, because Islam is appreciate the ability and privilege of human nature to find its own way with targeted advertising. Basically, the Government's role is to complement the initiatives taken to private sector. The Islamic System is wide open opportunities for individuals to move in the economic activity.
3. Islam recognized the importance of international trade. All kinds of barriers to trade (trade-barriers) is not recommended according to Islam. Openness in this matter is not allowed if have to give up the religious terms. Any form of economic imperialism must be stopped. As a religion for all humanity, Islam underlines the view that international trade practices directly can be a reflection of the economic practices of Islam for the other.