Islamic financial institutions: remedy for the current economics and financial crisis.
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Islam provides many institutions within the structure of Islamic economic system which if studied carefully can be put into practice in order to solve the current global economic and financial crisis. The current global economic and financial crises, together with the Arab Spring and the Arab Awakening in the 21st century, offers a good opportinity for Muslims to revive their current economic system according to the guidance from the Quran and the Sunnah: not only to solve the current crises but to revive the perfect system that Allah (swt) sent to serve all mankind in the best way as mentioned in the Quran (Surat al-Maidah 5:3). In view of that, Islam is not just a religion of worship; it is a comprehensive discipline that includes all aspect of sciences including economics. It provides many institutions that have to function in parallel in order to meet a just and a welfare society for all mankind.
Islamic economic system , Economic crisis , Financial crisis , Islamic financial institutions
Ismail Abdel Mohsin, Magda. (2012). Islamic financial institutions: remedy for the current economics and financial crisis. Islamic Finance News, 9 (19), pp. 36-38.