Islamic economics

Islamic economics is a system that integrates economic activity with Islamic principles, emphasizing fairness, justice, and ethical conduct. It prohibits interest (riba), encourages sharing of wealth through charity (zakat), and promotes equality and social responsibility. Financial transactions must adhere to Shariah law, ensuring honesty and ethical dealings. The goal is to foster economic growth while reducing poverty and inequality, balancing individual incentives with societal well-being. Overall, Islamic economics seeks to create a fair, compassionate economic environment aligned with spiritual values.