Islam as a faith and as a system is relevant for all times. Amongst a number of issues dealt with by Islam, the economy is an important one, especially as in running a smooth and peaceful life, it plays a pivotal role. In general, the term 'economy' means: careful management of resources, production of goods, consumption, services, and supply of money. Economy can broadly be categorized into income, expenditure and business transactions. The basis of the economy is money, which is a means of getting things easily and rightfully. Hence, its attainment and proper management is a must. Of all the ways adopted to generate money and increase it, Islam condemns those means which may land a person in trouble in the future or which put an extra burden on him. Interest on money is such a system, which keeps getting increased with the passage of time, without any risk factor. Banking is a part of the monetary system. Islamic banking is based on an interest-free system. Like all other Islamic systems, Islamic economy is also logic based. Its spirit is the overall development and prosperity of society. As a subject, Islamic economy is quite a vast subject, which can span thousands of pages. This modest work is an enterprising initiative and will be an asset for all academics, scholars, economists and researchers.
ABOUT THE AUTHOR M H Syed
Dr. M.H. Syed, an academic and scholar in his own right, is basically a political scientist. He has further diversified his interests into research and serious studies in subjects like History, International Relations, Human Rights etc. An M.A., M.Phil., Ph.D. in Political Science, M.A. in English Literature, diploma in International Relations and Diploma in Journalism. He began his career as a feature writer in All India Radio and Press Information Bureau. Later, he was associated with United News of India and Times of India. He has also edited several periodicals and penned dozens of articles for esteemed dailies and weeklies., apart from participating in various seminars and symposia. As an author, he has several books to his credit, in addition to dozens edited by him for reputed publishers. An established name in literary circles, Dr. Syed is totally devoted to research and writing.
ABOUT THE AUTHOR Muhammad Moinuddin Khan
Muhammad Moinuddin Khan, an authority on Islamic Law, is an AMU product. He is an author and scholar in his own right. He has earned his M.A. and L.L.B. (Hons.) degrees from Aligarh Muslim University. Completing his studies, he devoted himself to research and serious writing, particularly engaged in working on Islamic Law.
Recently, he has diversified into Islamic Jurisprudence and unearthed many hidden facts. Based in Aligarh, as a full time academic, he is currently busy with his project on Fundamental Aspects of Islamic Law. He has several books to his credit. This is his new work on the subject.
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