Thursday, July 27, 2006

Source of Emergent of Islamic Economic

Created By: Romi Adetio Setiawan
Student of BA (hons) Aligarh Muslim University, India.
Sources of Emergent of Islamic Economic

There are two factors led to the emergent of Islamic Economic in this Modern Era:
1. The background of religion, to hinder "Riba" and hold up the "sodaqah".
2. The emergent of surplus income from Oil Exporting Countries of the Middle East and the Islamic country which is led to the need of institution to keep their fund.

In Indonesia where the Muslim is the majority, the term of Islamic Economic has been prevailed since 1991, and it has a large response to the society. This system was implemented in the Banking system and other economic activities as well, such as Business Insurance, Multi-Level Marketing Business, and in a large scale of demand marketing.

With the begin of Jakarta Islamic Index, the investors will not face a complexity to invest their money in Islamic way, the system of Shari'ah has influenced many instances in Indonesia, meanwhile yet several people still misgiving in understanding the Islamic Shariah.

As far as the majority of population is concern in the Islamic country, it is necessary for the government to implement the Islamic Shariah wholly, and keep up on the existing in normalizing the economic of the country.
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