The entrenchment of an Islamic economic system is aimed at

Assessment: JAMB UTME - Islamic Religious Studies - 2011 Subject: Islamic Studies

Question 1 Report

The entrenchment of an Islamic economic system is aimed at
Answer Details
The entrenchment of an Islamic economic system is aimed at promoting equitable distribution of wealth. In an Islamic economic system, wealth is considered a blessing from God, and it is the responsibility of society as a whole to ensure that this wealth is distributed in a fair and just manner. The Islamic economic system is based on principles of justice, equality, and social welfare, and it seeks to prevent the concentration of wealth in the hands of a few individuals or groups. This is achieved through various means, such as prohibiting riba (usury or interest), encouraging charitable giving, and promoting fair trade practices. Additionally, the Islamic economic system seeks to promote economic growth and development through entrepreneurship, investment, and innovation. By promoting equitable distribution of wealth and encouraging economic growth, an Islamic economic system aims to create a more just and prosperous society for all.

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