Business organizations and the instruments for raising financial capital for a modern Islamic economy

Muslim economists have several ideas about what 'Islamic economics' actually means. Whereas some see the field as a study of the very early years of the Islamic state, others view it as the product of evaluations and critical analyses of existing economic orders. After examining the Qur'an and the ahadith of the Prophet, one observes that Islam's economic regulations are set to maintain economic justice within a society. When Muslim rulers were innovative and creative in setting economic policy relevant to their times and in line with the sunna, times were prosperous. When Muslim rulers remained attached to the economic arrangements of early Islam while turning a blind eye to their current situations, the result was economic backwardness. Muslims today need to reform their economic activities to make them of the kind that supports Islamic societies. The process is one of modification rather than re-invention. Sole- proprietor firms, partnerships, corporations, semi-public firms