The Islamic Economic Order

# About Islam

Islam also deals with the economic relations between people. Islam provides the people with a perfect set of instruments and tools that guarantees the maintenance of a just and stable economic system. In Islam, interest (Riba) from an economic, social and ethical point of view is considered harmful to any human society. In Quran it says: “(...) whereas Allah has permitted trading and forbidden Riba. (...) "(Surah 2: Verse 275).

In addition to this general interest (Riba) ban, gambling and speculative transactions are prohibited, as well as in investments in businesses with intoxicants, prostitution and pornography. Another Islamic solution for a fair structuring of economic conditions is the zakat, the compulsory tax for the poor. It benefits people in need who have less than the subsistence level. This creates a balance that enables those in need to make a fresh start. In this sense, the payment of zakat is not just a religious compulsory tax, but has moral implications in all respects.

The aim of the Islamic economic system with its moral, ethical, social, as well as health provisions is to enable all people to have a dignified and decent existence.