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A Fascinating Introduction to Economics in Islam with Jamal Harwood

Blogging Theology

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The Importance of Real Money in the Islamic Economy

In Islam basically you invest in a proper Islamic company, you gift your money. And otherwise you're going to be paying zakat 2.5% and you're not going to be hoarding it. So this is a very distinctive way and led to a very dynamic economy where those with capital would be investing all the time. For this to happen, of course, the Muslims need to have an imam, a Khalifa to establish these things. You just can't do it in your local town. There has to be some system to implement this Uma-wide, I guess.

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