69 million page views

Islamic Economics

Reader comment on item: Islamic Economics: What Does It Mean?
in response to reader comment: The Islamic Way To Do Everything

Submitted by James (United States), Sep 27, 2007 at 16:27

Most of you, I suspect , are either too ignorant to say much about Islamic Economics or are mere reactionaries talking ill of the successes of Islamic economics.. This concept has been found to be a very sound alternative to the corrupt western mode of doing businesses.

A few days ago, a Muslim Imam gave a lecture to students at an American insititution and informed them about how Islamic Economics works. "This is the deal:" , he said, "the seller tells you, for example, that the car goes for 5000. You can opt to haggle with him and he may refuse to lessen or not. If you decide to take it on credit and pay it in bits, then he doesn't charge you interest because that is taking advantage of you. What could possibly be better than that? One correction that is place is that Islamic economics is not a recent innovation but has been there since the days of the prophet Mohamed (SAW). I enjoin you to dig further and study Zakat, inheritance, interest and hoarding among many other topics in the Quran.

Submitting....

Note: Opinions expressed in comments are those of the authors alone and not necessarily those of Daniel Pipes. Original writing only, please. Comments are screened and in some cases edited before posting. Reasoned disagreement is welcome but not comments that are scurrilous, off-topic, commercial, disparaging religions, or otherwise inappropriate. For complete regulations, see the "Guidelines for Reader Comments".

Comment on this item

Mark my comment as a response to Islamic Economics by James

Email me if someone replies to my comment

Note: Opinions expressed in comments are those of the authors alone and not necessarily those of Daniel Pipes. Original writing only, please. Comments are screened and in some cases edited before posting. Reasoned disagreement is welcome but not comments that are scurrilous, off-topic, commercial, disparaging religions, or otherwise inappropriate. For complete regulations, see the "Guidelines for Reader Comments".

See recent outstanding comments.

Follow Daniel Pipes

Facebook   Twitter   RSS   Join Mailing List
eXTReMe Tracker

All materials by Daniel Pipes on this site: © 1968-2020 Daniel Pipes. daniel.pipes@gmail.com and @DanielPipes

Support Daniel Pipes' work with a tax-deductible donation to the Middle East Forum.Daniel J. Pipes

(The MEF is a publicly supported, nonprofit organization under section 501(c)3 of the Internal Revenue Code.

Contributions are tax deductible to the full extent allowed by law. Tax-ID 23-774-9796, approved Apr. 27, 1998.

For more information, view our IRS letter of determination.)