Findings and conclusion

Abstract

The main purpose of the Islamic economy is to build a new model to meet the minimum needs of human beings and to maintain social peace and cohesion. To this end, it seeks to ensure that wealth is not concentrated in the hands of a few privileged men and capital holders and to create a balanced economic system that observes the interests of both the individuals and the society. As a solution, Islam places emphasis upon charitable activities which can be promoted by an economy that generates welfare. However, compared to developed nations, most Islamic countries perform poorly in terms of generating welfare even though they produce raw materials. The Islamic countries seeking to narrow the gap in recent years, rely on realistic development policies and support the real sector.