Morality and Justice in the Islamic Economics

Abstract

Economic crises are always resulted from greed, fraud, corruption, avarice, manipulating information, and creating financial assets without real economic activity. The main point is carrying out economic activities without moral and justice considerations. The Islamic economy is an economy that comes from the basis of Islamic teachings that emphasizes morality and justice. It is proven that Islamic banking is more stable compared to conventional banks in facing various economic and financial crises. Islam strictly forbids economic practices that are based on riba (usury), gharar (uncertainty), and maisir (gambling). The prohibition will ensure investment flows into the real sector for productive purposes. Islamic teachings see justice upholding and exploitation elimination as very important thing. Justice is the main element of upholding moral teachings that are based on Islamic values. Justice in the economic field has a principle that the property must not be centered on the rich, but must be equally spread over those who are weak.