Journal of Quranic Studies and Modern Science Principles of Islamic Economics and Livelihood and Income Sources of State and Individuals in Islamic Economics: According to the Holy Qur'an (original) (raw)

Principles of Islamic Economics and Livelihood and Income Sources of State and Individuals in Islamic Economics: According to the Holy Qur'an

Islamic economic system is a divine source and wholesomely based on Quran, Hadith, Ijma, Ijtihad and Qiyas. In this system, all economic activities and life are done within the framework of Halal and Haram (Lawful and Unlawfulness). In Islamic Economic System; the revenues of individuals, partnerships and the state are regulated in the same methods. The main sources of livelihood and income are clearly defined in the Holy Qur'an. Other livelihood and income types; circumcision is determined according to Hadith, Ijma, Ijtihad and Qiyas based on Holy Quran. All these types of income have been applied by some other societies and governments, either directly or by adaptation. Nowadays, although some of the names or formats change, other than a few types of these types of revenues are still in use. In this study; firstly, the legal sources of the Islamic religion and economy are based briefly explained. Secondly, the basic principles of the Islamic economics are summarized. Then, examined livelihood and income sources in Islamic Economic System according to Holy Quran.