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Islamic Economics: Divine Vision of Distributive Justice

In: Developments in Islamic Banking

Author

Listed:
  • Mohammad Mansoor Khan

    (University of South Australia)

  • Muhammad Ishaq Bhatti

    (La Trobe University)

Abstract

According to the Islamic faith, life on earth is a temporary phenomenon and there is another life hereafter.1 The life hereafter is everlasting and far superior to this worldly life. Success in the life hereafter is based on leading this life in full compliance with Islamic tenets as enunciated in Shariah. Islamic canon law or Shariah is based upon the teachings of the holy Quran and Sunnah of the holy Prophet Mohammad peace be upon him (pbuh). The true and supreme success of human beings is called ‘falah’ or ‘eternal salvation’ – success in this world and the life hereafter. Wholehearted submission to the Islamic faith brings a revolutionary change in human beings. Reliance by human beings solely on divine guidance – unity of commands – for managing their personal and social institutions ensures their growth in material and spiritual spheres, and success in both worlds (Naqvi, 1982; Choudhury, 1998).

Suggested Citation

  • Mohammad Mansoor Khan & Muhammad Ishaq Bhatti, 2008. "Islamic Economics: Divine Vision of Distributive Justice," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Developments in Islamic Banking, chapter 2, pages 7-37, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-58230-9_2
    DOI: 10.1057/9780230582309_2
    as

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