Islamic Economic System

Question 1

Characteristic of economic system of Islam

Answer 1

Freedom of work enterprise
Freedom to ownership of property ( state owned, private property)
Probhition of interest
Zakat and sadaqh
Distribution of wealth
Riba and trade
Against the accumulation of wealth without without utilisation

Question 2

System of Islamic welfare economics

Answer 2

Abolition of interest
Probhition of gambling
Abolition of unlawful contracts