IEF 104 - Primary Sources of Islam and Economics

The course entitled “Fundamental Sources of Islam and Economics” is designed to familiarise the IZU students with the basic principles and/or the fundamental sources and concepts of Islam and economics. It aims at providing the fundamental knowledge that is required to understand the Holy Qur'an, the Sacred Sunnah, and their relationship with economics. In other words, to learn the principles and concepts set forth by the Noble Verses of the Holy Qur’an and the Ahadith of the Sacred Sunnah that regulate the economic life from their reliable sources.

Following a general overview of the fundamental sources of Islam—primarily the Qur’an and the hadith—as well as the schools of ijtihad and fiqh, this course examines in detail key topics in Islamic economics, such as interest, trade, loans, zakat and ethics. In this way, the link between the fundamental sources of Islam and Islamic economics becomes more apparent.