EGHTESAD-E ISLAMI
Year:2008 | Volume:8 | Issue:31|Papers Count:8

Economics and law are two sciences of the humanities that weren't apart from each other before 18th century. Economics became a separate science by developing experimental methodology and its domination on economics and appeared without attention to law and legal institutions. Old and new institutionalism advent and proposing cost and transaction law helped to their convergence. On the other hand the exploitation of economics method for analyzing law and regulations to propose a new interdisciplinary called law and economics in recent decades. Islamic economics is the connection of Fiqh, Islamic law, and economics. It should consider the law framework of economic activity to select accurate law or the theory among different diligences which the economic consequences of legal theory has been studied beside lawful evidence for selecting efficient theory. This essay shows that Islamic Fiqh is a basis for economic school, a climate for growing economics and pillars for settlement the Islamic economic system. Imagining these two sciences apart each other is inconsistence in Islamic literature either in theory or practice because Islamic economics is real.

Trust is one of the most important factors and indexes of social capitals while most of the social capital studies have not considered factors and indexes of social capital in comparison to Islam. This essay studies the concept of trust and depicts its role in the economic development according to the Islamic texts. It is an effort to formulate social capital theory in an Islamic thought context. This study is based on a descriptive method and content analysis. It examines this hypothesis that proper ground would accomplish for economic development if the Islamic factors and indexes of social capital establish.A system that facilitates mass interactions and communications and encourages trusty among society people can design by considering some characteristics like: emphasizing on establishing justice and righteousness among people; encouraging to trustfulness, honesty and keeping the faith; Islamic Fiqh emphasize on the principle of trusty through some rules like principle of correctness, rule of possession and Muslim market; expressing defined commands about transactions rules like the prohibition of decreasing the price of commodity and people work, cheating in buying and selling, short weight in measuring and balances, the misuse of public treasury and encouraging to provide the need of people. The provided trusty by Islamic thought can affect on the efficiency of market and government as well as decreasing the poverty, developing financial and economical growth and accessing to the proper grounds of economic development.

Human development approach is the newest and the most acceptable approach in development discussions. But conventional indexes for human development are not adequate and proper for an Islamic developed society. What are the proper indexes for an economic aspect of human development is the question that this essay follows. It has used an interpretive-explanatory method and in reference to the foundations, principles and purposes of an Islamic development and human development concept in Islam analyzes economic interactions among Muslim actors in an ideal Islamic human development condition. Also the economic indexes of human development are designed based on the Islamic economic system in a general index as follows; Adequacy and certainty in providing essential needs, sustainable welfare, the participation of economic actors, Halal livelihood, justice and equity, amendment, development and donation.

Natural resources have an important role in the countries economy. Land is one of these resources which exist in different economic sectors and recession or boom in this market affect on other markets. The scarcity of this input in the one hand and the increasing population and demand in different economic sectors and also speculative demand for land on the other hand has highlighted its importance. Studying this resource in an Islamic economic system contains explaining demand and supply and the role of government policies.Policy making has been facilitated on the supply side of land in prosperity and construction. Different markets of selling, Ijarah and Waqf has varied land discussions in an Islamic economics. It has been studied the effective factors on the structure of land market in this essay. Ownership institution has been supposed as an important factor in this study which affect on land market. Demander and supplier incentives are another matter that would study in continuance. Some part of study contains different markets of these factors. This study would be an effective stage to recognize demand and supply curves for price determination in land market in an Islamic economics.

One of the financial vitalities is Zakat-e-fetreh, which would become vital when the religious conditions of the guardian of the family reach the limit. Religious reasons have confirmed its payment and all of the Muslims try hard to do so. The management of this financial vitality depends on the knowledge on the amount. This paper endeavors to note its religious subjects, meanwhile according to every tenth of the population that are below financial poverty, calculating the country's money of zakat-e-fetreh for both the rural and the urban society at the national and family level for the period of 1370-85, and ultimately, according to the results of the poverty gap, comparing between the amounts of zakat-e-fetreh and the poverty gap of the national level. The results indicate that in the above time period, the amount of this zakat-e-fetreh in order to eliminate the lack of food, has not been enough and other devices like finance zakat, khoms, or other payments should be used.

Islamic banking practice, which started in early 1970s on a modest scale, is based on one single belief, i.e Riba is prohibited. Having set that, there lies a question. i.e. in comparison with conventional financial system, does Islamic banking have any advantage? The answer to this question gets more important if we consider the various crises the conventional system has faced in the last 4 decades. The most recent (and probably most important) of them is the financial crisis in the housing market of the U.S. economy. This crisis has provided a great opportunity for Islamic scholars to rethink and reconsider the distinguishing features of interest-free Islamic finance at the macro-economic level. This paper addresses some of these features, which are stability and efficiency. The results show that Islamic finance is conducive to greater stability and more efficiency than conventional finance. It is a fairer arrangement capable of leading human society to greater equity and higher growth. One of the reasons for greater stability in an Islamic financial system is synchronization between payment obligations and revenue accruals. Another reason is that there will be far less scope for unhealthy speculation in the Islamic system because of absence of the rate of interest and reduced volume of debt. This will also contribute towards stability. Finally a better incentive structure in Islamic ban king is the clue for higher efficiency.

The expansionary evolutions in different topics of science made same changes in financial markets that are developing now. Now the contrast or accordance between this development outcomes and juridical sight is important question for Islamic jurisconsults.One of those evolutions is derivative markets§ expansion. Derivative contracts have a main share in the financial markets. So paying sufficient attention about recognition the nature of this contracts and juridical sources will help to deduct the Shariah sight about these contracts. The main hypothesis of this research is swap contracts are not acceptable at the Fiqh §point of view and should be replaced with alternatives. In this study to showing the admission of Shariah about use of these contracts, first we survey about juridical view about the nature of currencies and then we show that although the exchange of different countries's currency is acceptable.