Podcast
Questions and Answers
Which of the following best describes 'Halaal' in the context of the Islamic economic system?
Which of the following best describes 'Halaal' in the context of the Islamic economic system?
- Actions that are conditionally permitted under specific circumstances
- All acts permitted and declared lawful by Shariah (correct)
- Acts evaluated based on socio-economic outcomes
- Actions encouraged but not mandatory by Shariah
What is the significance of 'Ijma' in Islamic rulings?
What is the significance of 'Ijma' in Islamic rulings?
- It refers to individual preferences in economic choices
- It denotes the financial interactions permissible under Shariah
- It is the consensus among Islamic scholars about a legal ruling (correct)
- It describes local customs that may override Islamic law
Which category does 'Muamlaat' belong to in the Islamic economic system?
Which category does 'Muamlaat' belong to in the Islamic economic system?
- Beliefs
- Dealing with others (correct)
- Manners
- Acts of Worship
Which of the following is NOT categorized under the nature of Shariah rulings?
Which of the following is NOT categorized under the nature of Shariah rulings?
Which term encompasses actions that are specifically mandatory for Muslims?
Which term encompasses actions that are specifically mandatory for Muslims?
Flashcards
Islamic Economic System
Islamic Economic System
A system based on Shariah principles governing all aspects of human life, including economic activities.
Shariah
Shariah
A set of divine injunctions and laws guiding Muslims' lives, including economics.
Halaal
Halaal
Actions permitted and lawful in Islam.
Haraam
Haraam
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Faraiz
Faraiz
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Wajibaat
Wajibaat
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Five Categories (Islamic Life)
Five Categories (Islamic Life)
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Study Notes
Islamic Economic System
- Islamic economic system conforms to Shariah rules
- Shariah is a pathway of divine injunctions and laws regulating all aspects of human life
- Human life aspects fall into five categories:
- Beliefs (Aqaid)
- Acts of Worship (Ibadaat)
- Dealing with others (Muamlaat)
- Manners (Ikhlaqiat)
- Economics (Maishat)
Nature of Shariah Rulings
- Halal: Actions permitted and declared lawful by Shariah
- Haraam: Actions prohibited and declared unlawful by Shariah derived from Quran, Hadiths Mutawatir or Ijma (Sunnah e Mutawaatirah are strong narrations with numerous narrators)
- Faraiz: Actions declared mandatory by Quran, Sunnah e Mutawaatirah or Ijma
- Wajibaat: Actions declared mandatory on Muslims
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