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Write upon the fiscal system and …

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Write upon the fiscal system and the increase importance of the use of money in the centra Islamic lands?
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Meghna Thapar 4 years, 2 months ago

Islam explains the drive of Muslims over the centuries to meet their economic needs through commerce, industry, agriculture and various forms of free enterprise. Profits are very much a part of such activities, provided they are lawfully obtained (halal). Islamic financial system helps by assisting financial inclusion.
The conventional banking system is based on interest payments at a rate pre-set on the deposits of money. Payment and receipt of interest is prohibited under Shariah Law, so Muslims abstain from banking.

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