Islamic banking finance economy
by islamicbankingfinanceeconomy.blogspot.com
History of Islamic Economic System
With
the collapse of communism and the socialist economic system in the
early '90s to create a system of capitalism extolled as the only
economic system that is valid. But it turns out, the capitalist system brings negative effects and
even worse, because many poor countries get poorer and the rich
countries are relatively few get richer.In other words, capitalists failed to enhance the dignity of many people, especially in developing countries. In fact, according to Joseph E. Stiglitz (2006) the failure of the American economy '90s because of the greed of capitalism. Failure
to fully from the economic systems that exist is because each economic
system has weaknesses or deficiencies are greater than the advantages of
each. Weakness or deficiency of each economic system is more prominent than the excess.Because
of weaknesses or shortcomings is more prominent than the good that is
causing emerging new thinking about economic systems, especially among
the Muslim countries or countries with a Muslim majority that Islamic
economic system. Countries
that are predominantly Muslim tries to realize an economic system that
is based on the Koran and the Hadith, the Islamic economic system that
has managed to bring the Muslims at the time of the Prophet boost the
economy in the Arab Zazirah. Of thinking is based on the Koran and the Hadith, is currently being
developed Islamic Economics and Islamic Economic System in many Islamic
countries, including Indonesia.Islamic Economics and Islamic economic system is the embodiment of Islamic paradigm. Economic
development of Sharia and Islamic economic system is not to compete
with the economic system of capitalist or socialist economic system, but
rather is intended to seek an economic system that has advantages to
cover the deficiencies of the existing economic system. Islam
handed down to earth, is intended to regulate human life in order to
realize peace and happiness of the people living in the world and in the
hereafter as the highest economic value. The people here are not simply Muslims but, all the people on the face of the earth. Tranquility
of life not only to meet the needs of life are abundant in the world,
but also can meet the spirit of peace as a provision in the hereafter. So there must be a balance in meeting the needs of living in the world with the need for the afterlife.The Three Basic Principles Concerning the economic system according to Islamic ShariaTauhid, this principle reflects that the authorities and the sole owner of the universe is God Almighty.Khilafah, present that man is the vicegerent or representative of God
on earth, endowed with a set of mental and spiritual potential and
completeness of the material resources that can be used to live in order
to spread the mission of his life.'Adalah, is integral with the objectives of sharia (maqasid al-Sharia). The
consequences of the Caliphate and the principle of 'It is demanding
that all of the resources is a mandate from God to be used to reflect on
the purpose of sharia, namely; fulfillment (need fullfillment), appreciate sources of income
(recpectable source of earnings), income distribution and the prosperity
evenly (equitable distribution of income and wealth) as well as the
stability and growth (growth and stability).
Four characteristics / properties of the Islamic SystemUnity (unity)Balance (equilibrium)Freedom (free will)Responsibility (responsibility)
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