Islamic Economics and Social Finance Flashcards (10 cards)

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1Question

Market & state — Islamic role?

Answer

Balanced interaction: markets operate within Sharia, with the state promoting justice and social welfare.

2Question

Property ownership — Islamic view?

Answer

Resources are trusts (*Amanah*) from Allah, with ethical, accountable use.

3Question

Islamic economics — goal?

Answer

Achieve *al-falah* (success and well-being) through justice and ethical resource management.

4Question

Islamic Economics — definition?

Answer

A social science based on Islamic worldview and ethics.

5Question

Falah — meaning?

Answer

Success and well-being in this world and after.

6Question

Trust (Amanah) — role?

Answer

Humans are trustees responsible for Allah’s resources.

7Question

Ownership types — in Islam?

Answer

Private, public, and common; all owned by Allah.

8Question

Wealth distribution — methods?

Answer

Zakat, sadaqah, waqf, inheritance laws.

9Question

Incentives — in Islamic economics?

Answer

Spiritual, moral, material, and legal motivations.

10Question

Decision-Making — approach?

Answer

Balanced, guided by Sharia, consultation (Shura).

Test yourself with the quiz

Answer 10 questions on Islamic Economics and Social Finance.

1. What do Islamic economic principles primarily emphasize?

2. What is the primary function of property ownership and trusteeship in Islamic economics?

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