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September 26th, 2021

I:

Prophet Muhammad (S) was a merchant. Even before divine revelation, Muslims believe that Muhummad’s character and composure was worth striving toward.

He was known throughout Mecca as Al-Amin and Al-Sadiq, the trustworthy and the truthful. He was easy in trade, and charitable with his profits. There are hundreds of hadith from the life of the Prophet (S) where he preaches fairness and productivity in markets.

Islamic economics doesn’t assert an ideology. Arguing that Islam is capitalist or socialist doesn’t really make sense – there are principles, but those principles can fit within a variety of systems.