Islamic Economic System

The Islamic economic system is based on principles derived from Islamic teachings and values. It promotes fairness, justice, and ethical conduct in trade and finance. Key elements include the prohibition of interest (riba), which seeks to prevent exploitation, and the encouragement of profit-sharing and risk-sharing partnerships (like mudarabah and musharakah). Wealth is viewed as a trust from God, and individuals are encouraged to give a portion of their wealth to charity (zakat). The system emphasizes social responsibility, sustainability, and the welfare of the community, aiming to create a balanced and equitable economic environment.