Flashcard: Islamic Economics and Social Finance — 10 carte

Market & state — Islamic role?

Balanced interaction: markets operate within Sharia, with the state promoting justice and social welfare.

Islamic Economics — definition?

A social science based on Islamic worldview and ethics.

Property ownership — Islamic view?

Resources are trusts (*Amanah*) from Allah, with ethical, accountable use.

Falah — meaning?

Success and well-being in this world and after.

Islamic economics — goal?

Achieve *al-falah* (success and well-being) through justice and ethical resource management.

Trust (Amanah) — role?

Humans are trustees responsible for Allah’s resources.

Ownership types — in Islam?

Private, public, and common; all owned by Allah.

Wealth distribution — methods?

Zakat, sadaqah, waqf, inheritance laws.

Incentives — in Islamic economics?

Spiritual, moral, material, and legal motivations.

Decision-Making — approach?

Balanced, guided by Sharia, consultation (Shura).