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As the moderate system, an Islamic economic system is simply the combination of the good features of capitalism and com...

  1. As the moderate system, an Islamic economic system is simply the combination of the good features of capitalism and communism. Critically discuss this statement. (20mark )
  2. What are the significance of rule-compliance in Islamic economics? Explain with appropriate examples. ( 20 mark )
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Answer #1

Islamic economic system is an appreciable combination of capitalism and communalism. The whole of the jurisprudence works as per the Sharia law. The provisions of economics, production, distribution and consumption work on the social principles as well. It defines a clear link between the rich and the poor keeping in mind the demands of the poor simultaneously developing the economy with rich profit making functionaries.

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