Islamic economy

The Islamic economy refers to a financial system rooted in Islamic principles, emphasizing ethical practices, social justice, and prohibition of interest (riba). It promotes equitable wealth distribution, ethical investments, and transactions that avoid harm or exploitation. Key features include profit and loss sharing, asset-backed financing, and adherence to Islamic laws (Shariah) in business activities. This system aims to foster sustainable economic growth while aligning economic actions with moral and spiritual values, ensuring fairness and social responsibility across commercial dealings.