The economic system of Islam encompasses an Islamic economic worldview, the school of Islam, and Islamic economics. Exploring its comprehensiveness and characteristics raises questions due to limited discussions and scarcity of narrations. The course addresses the existence of an Islamic economic system, its goals, the role of the Islamic government, financial resources, economic policies, and property regulation.
The economic system of Islam has three main elements: Islamic economic worldview, the economic school of Islam, and Islamic economics. Economic jurisprudence focuses on the second element, which explains the relations between economic elements in society. It covers topics such as income, including khums, zakat, taxes, anfal, and the banking system. Ayatollah Sayyid Muḥammad Riḍā Mudarrisī Yazdī discussed these points in his book on the tax and budget system in Islam.
An advanced course that examines whether the principle of money creation, in the sense currently used by banks, is acceptable to Shari’a or not?
