Frugality and extravagance: an Islamic perspective

Marifatul Haq Yasini The current economic world order has brought a degree of prosperity for some segments of the society in different parts of the globe. However, the damaging consequences of this order prevail over its productivity. It has produced a society, which believes and practices a wasteful and extravagant life-style rather than a moderate and frugal life that is desired by our Creator from us. Living an extravagant life is contrary to the basic principles of Islam. In fact, it means showing ungratefulness to Allah (swt) for the bounties…

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The economic order of Islam

A theoretical account of various Islamic economic concepts Islamic economy looks more on human behaviour in managing natural resources for the benefit of themselves and community. The ill disposition of the ownership, and the misdistribution of the wealth amongst people, therefore, must be addressed. Islam is a comprehensive religion that covers the entire spectrum of life, showing us how to conduct our activities in a sound and wholesome manner. Islamic principles and teachings provide realistic, fair and objective solutions for the prevention of individual, social and international problems either in…

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