Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A)- In order to solve socio-economic problems of man, different systems have been tried in different countries of the world. The most dominant are Capitalism

A)- In order to solve socio-economic problems of man, different systems have been tried in different countries of the world. The most dominant are Capitalism and Socialism. Since these systems are man-made, therefore, face many flaws and drawback. Analyze these flaws in Capitalism & Socialism and explain that how these flaws have been addressed and overcome by Islamic Economic System? Words limit: Max 400 words

B)- Evaluate the different forms of Riba involved both in monetary as well as in barter exchanges by giving examples. Words limit: Max 250 words

C)- How gharar (excessive uncertainty) takes place in different contracts? What are its legal effects on financial and non-financial transactions? Words limit: Max 250 words

D)- The code of conduct to be observed by the followers of Islam in their individual and social life is called Shariah. It is the compendium of all the injunctions and guideline principles derived from the Quran, Sunnah and other sources. How will you classify the different aspects of individual and social life activities under the umbrella of Shariah? Moreover, classify the levels of shariah rulings derived from different sources of shariah by giving examples.Words limit: Max 400 words

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Multinational Financial Management

Authors: Alan C. Shapiro

7th Edition

0471395307, 9780471395300

More Books

Students also viewed these Finance questions

Question

Consider the linear operator

Answered: 1 week ago

Question

Describe the new structures for the HRM function. page 724

Answered: 1 week ago