Structural framework of Islam's economic system

In describing the institutions of an Islamic economy, the author takes a broad look at the values promoted by al-Qur'an and the sunna in regard to economic life. In general, the objectives of an Islamic economy range beyond the field of business alone; Muslims have other ends in mind when planning their economies. There needs to be justice in production and justice in consumption in order to meet Islam's criteria. The religion teaches that humans may avail of God's bounties in the world, but the motivation for life's actions are linked to the afterlife and the judgment of God--thus people are to act with a different approach to life than found elsewhere. Faith in Islam requires that humans be active, and humans are encouraged to labor in the world and find appropriate occupations. As society functions, economic activity entails cooperation and unity. While the shari`a does grant the right to hold property, with this right comes the responsibility of righteous distribution and eq