Values of Islamic economy

Most economic relations in a market economy are closely related to loans, credit relations. Acting business entities have a shortage of own funds, which in turn leads to dependence on credit from a commercial bank. The article deals primarily with issues related to the modern credit system, its interest, especially the speculative content of credit and the ultimate economic interests of today's commercial banks, the particular interest for using a credit. Along with the usurious nature of the loan it is revealed that credit is a means of exploitation. A high interest rate of the loan and the consequences of its inefficient use, leading to a global financial crisis are common. Today's commercial banking and credit relations are compared with the features of Islamic finance instruments. The focus is on the peculiarities of Islamic banks and financing instruments and features that distinguish the Islamic economy from other economic systems, that is, attention is paid to an interest-free economic system. It is also considered that this economic system is currently called “fair” because the roots of political, economic and social thought in the Islamic economy are related to the Hadith of the Koran. The essence of the Islamic economy is based on the values of social, justice and human values, since it is consistent with the principles of Sharia. On the contrary, the Islamic system does not allow borrowing of interest rates, gambling, fraud, coercion, deliberate depreciation of stocks, raising prices for false requests and corruption. The article is based on these values of the Islamic economy.

коммерциялық банк, кредит, пайыздар, өсімқорлық, қаржылық дағдарыс, пайызсыз несие, ислам экономикасы, шариғат заңдары, әділеттілік, әлеуметтік экономика, коммерческий банк, кредит, проценты, ростовщичество, финансовый кризис, исламская экономика, законы шариата, справедливость, социальная экономика, commercial bank, loan, percent, usury, financial crisis, Islamic economy, sharia law, justice, social economy

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