Ilm al-Iqtisad addresses economic principles and practices from an Islamic perspective, emphasizing fairness, justice, and social welfare.

Key Aspects of Ilm al-Iqtisad:

1. Core Principles: Prohibition of riba (interest), fair trade, and wealth redistribution through zakah.
2. Economic Systems: Encourages ethical investments and sustainable development.
3. Contemporary Relevance: Supports the growth of Islamic banking and finance.

Importance of Ilm al-Iqtisad:

• Promotes economic justice and equity.
• Ensures alignment of financial practices with Islamic values.
• Addresses modern economic challenges with ethical solutions.

Written by AI. A more correct, God given, explanation can be found here.