Essays on Islamic economics (M.A. Thesis)

This thesis provides a brief history of Islam as a religion and also a summary of the economic concepts embodied in Islam. It begins with a discussion of the prohibition of interest and usury and the Islamic reasoning for these determinations. A discussion of the banks operating in the interest-free environment follows and the taxation policies of the Islamic state through the institution of zaka. The author concludes with a consumer utility function model which he developed to show the role of tax (zaka) on the individual's income._x000D_