Islam provides a complete economic system rooted in justice, balance, and the ethical use of wealth. The Quran states: "And do not devour one another's wealth unjustly" (2:188).
1. Ownership belongs ultimately to Allah
Wealth is a trust (amanah) from Allah. Humans are stewards, not absolute owners. This shapes how we earn, spend, save, and distribute.
2. Prohibition of Exploitation
Islamic economics prohibits any transaction that exploits or harms others — including riba (interest), gharar (excessive uncertainty), maysir (gambling), and price manipulation.
3. Social Justice through Zakat
Zakat is one of the Five Pillars — a compulsory 2.5% annual levy on qualifying wealth. It is not charity; it is a right of the poor. It prevents wealth from concentrating in the hands of the few.
4. Halal Earning
All income must come from halal sources. The Prophet ﷺ said: "It is obligatory for every Muslim to earn his livelihood through halal means."
| Principle | Conventional | Islamic |
|---|---|---|
| Interest | Core mechanism | Strictly prohibited |
| Social responsibility | Optional (CSR) | Obligatory (Zakat, Waqf) |
| Speculation | Permitted | Restricted (no maysir) |
| Ownership | Absolute | Stewardship (amanah) |
| Risk sharing | Lender takes no risk | Both parties share risk |