A BRIEF CONCEPTUAL OUTLINE by Dr. Adi Setia Introduction The Islamic Gift Economy (IGE; al-Iqtisad al-Infaqi or al-Iqtisad al-Ihsani) can be envisioned as an integrative economic system based on the operative principles of cooperation ( ta‘awun), (2) mutual consent ( ‘an taradin/muradatin) (3) and partnership ( musharakah), and these are in turn founded on the principal ethical precepts of rahmah (mercy), gratitude ( shukr), generosity ( karam/ihsan), moderation ( tawazun/ ‘iffa), khilafah (trusteeship) and amanah (integrity).

Kodeks Turkmenistana ob administrativnykh pravonarusheniyakh: utverzhden i vve-den v deystvie Zakonom Turkmenistana ot (dalee – KoAP T ili Kodeks Turk-menistana) // Elektronnaya gazeta «Turkmenistan: zolotoy vek». Kovalenko O.G., Medvedev O.E. Bank risks: essence, classification [Bankovskie riski: suschnost, klassifikatsiya] // Vector of Science of Togliatti State University [Vektor nauki Tolyattinskogo gosudarstvennogo universiteta] – № 3 (25) / 2013. Zanimatel'no o slozhnom: uchebnik dlja vuzov] / under the editorship of M. Moscow, 2012, 288 p. A deposit insurance system and its influence on the risks accepted by the Russian banks [Sistema strahovanija vkladov i ee vlijanie na riski, prinimaemye rossijskimi bankam].

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These operative precepts are grounded in the foundational psycho-cosmological outlook expressed in the belief that (i) the natural and cultural (4) resources of the world are abundant, (5) while (ii) the material needs, wants and desires of human beings are in fact limited (6) and should be limited. (7) Allah Most High is beautiful and loves beauty The natural and cultural resources of the world seen as blessings and bounties ( fadl) from the Merciful Creator ( ni‘am/ala’ al-Khaliq) are abundant and even unlimited in principle because wa in ta‘uddu ni‘mataLlahi la tuhsuha: “if you count the bounty of Allah you will not exhaust it” ( Ibrahim: 34). (8) Viewed in the light of belief ( iman), these resources are gifts and favors ( ala’) from the realm of transcendence to which the human ethico-cognitive response is gratitude ( shukr), which in turn results in contentment and fulfillment ( qana‘ah).

Hence humankind will take according to his need but not his greed, for because of abundance and plenitude there is no anxiety over scarcity that feeds greed ( tama‘) and accumulation (takathur/jam‘ al-mal wa ta‘diduhu). (9) Moreover, shukr itself becomes an existential and psychological state of being that is itself generative of abundance ( ziyadah) both material and spiritual, for la in shakartum la’azidannakum = “verily, if you give thanks, I will indeed give you more” ( Ibrahim: 7).

Thus by definition, Islamic economics is an economics of abundance, (10) and never an economics of scarcity.

Financial Transactions in Islamic Jurisprudence: Revised Edition From The arabic Work (Islamic Jurisprudence and its Proofs) By Translator: Mahmoud A. El-Gamal (Rice University, Houston) Revised By Muhammad S Eissa Ph.D Hardback 1400 Pages (Circa) ISBN: 7390731 2 Volumes Set Publisher: Dar al-Fikr Damascus, Syria, Dar al-Fikr al-Mouaser About The Book This 2 Volume Translation is from Volume 5 of Dr Wahbah Al-Zuhayli's 8 volumes of the Al-Fiqh Al-Islami wa-Adillatuh (Islamic Jurisprudence and its Proofs), Damascus, Darl Al-Fikr fourth Edition 1997 The author covers issues in this volume that were not covered in previous ones, including recent Fatwas related to the stock market (options, short selling, etc). Includes a selection of papers on Islamic Law, Economics and Finance. Provides comprehensive Fiqh coverage including the views of all major schools of Thought (madhhab) in an easy to understand language. The thorough indexes make it easy to locate any topic within the set.

The goal in providing this translation was to give non-Arabic readers access to the rich Islamic juristic literature on financial transactions. A Translation of Volume 6 is forthcoming shortly, Allah willing.

About The Author (1932-) born in Syria and Qualified from Azhar and various other Universities in Egypt and Syria is a prominent Sunni professor and Islamic scholar specializing in Islamic law and legal philosophy. Dr Zuhayli has defended traditional orthodox Sunni Islam - regarding the Ashari and Maturidi schools of belief to be orthodox and defending the option of lay Muslims to follow a madhhab or school of Islamic jurisprudence in their everyday lives. His works on Islamic legal theory establish that traditional Sunni Islamic orthodoxy is defined by that which complies to one of the four valid Sunni madhhab, however he has also stated that following one of the four madhhab is not obligatory.

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He is the author of many of books on Islamic and secular law, many of which have been translated to English. He is chairman of Islamic jurisprudence in the College of Sharia at Damascus University.

He is also a signatory to the Amman Message and A Common Word documents. Weight: 2300 In Stock: 3.