Islamic economic system

Islamic economics has certain values, precepts, and aims, and a certain system to implement. The Islamic pattern of life is grounded in the principles revealed by Allah. The values within the Islamic economy are drawn from this divine source. The Qur'an clearly presents the fundamental structure of life and distinctly delineates the overall system within which social forces interact. Still, there is a degree of liberty within shari`a regarding economic life. An Islamic economy is fit to have much wealth and a high standard of living. Work and productive employment are the highly-valued backbones of the Islamic economic outlook. Furthermore, anyone who works ought to be suitably compensated. The Islamic economy seeks to balance the interests of individuals and their society, to utilize resources optimally, and to adapt to the requirements of the times. There should be moderation in consumption. Freedom in Islam is held in reasonable check, whereas capitalism and socialism are