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islamic finance
ISLAMIC FINANCE
MID-TERM

Usama Bin Asif

ISLAMIC FINANCE
MID-TERM
By
Jebran khan

1. Economical system
2. 4 Problems of economical system
3. Principles of Socialism
a. Errors in Socialism
4. Principles of Capitalism
a. Errors in Capitalism
5. Islamic instructions regarding economics
6. Initiative person and secondary person
7. Profit motive
a. Restrictions from Gods side
b. Governmental restrictions
b.i. Condition of governmental instructions
c. Ethical restrictions
8. Productive factors of distribution
a. Socialism
b. Islam
9. 2 Types of property
10. Islamic economical system is better than others
a. Divine system/guidance
b. Zakat obligatory (Farz)
c. Prohibition of interest
d. Good character
e. Believe in hereafter
f. Respect to man kind
g. Difference between Halal &Haram
h. Moderation
i. Charity
j. Islamic inheritance law
j.i.1. Importance of Islamic inheritance law
11. The source of income of Bait-Ul-Mal (Treasury of Islamic state)
a. Zakat
b. Ushar
c. Jizya
d. Khiraj
e. Charity
f. Fai
g. Khums
h. Zarieb/Darieb (Tax)
i. Waqaf
12. Interest in Capitalism
a. Theories of economics regarding interest
a.i. Waiting theory
a.ii. Liquidity preference theory
a.iii. Taking risk theory
a.iv. Scarcity of capital
a.v. Productivity theory
13. Two kinds of Riba in Islam
a. Riba-Al-Jahiliah or Riba-Al-Quran.
b. Riba-Al-Sunnah or Riba-Al-Fazal.
c. Hazrat Omar Quotation.
14. Scholar names

Economical system
There are three economical systems in the world.
1. Capitalist system or Market economic ( America, England, etc)
2. Socialist system (China, Russia, India, etc)
3. Islamic economical system
4 Problems of economical system
1. Determination of priorities (Which priority to put first and which priority to put last)
2. Allocation of resources (How to utilize resources)
3. Distribution of income (How much to
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