lslamic law, also known as Shariah, places a strong emphasis on economic fairness and social welfare. Here are some key principles:
1. Zakat: A compulsory charity tax (2.5% of excess wealth) to support the poor, needy, and vulnerable.
2. Fair trade practices: Prohibitions on exploitation, usury, and monopolies.
3. Social justice: Encouragement of fair distribution of wealth and resources.
4. Protection of the weak: Provisions for the rights of workers, women, and minorities.
5. Public interest: Consideration of the common good in economic decisions.
These principles aim to promote a balanced and equitable economy, ensuring that everyone has access to basic needs and opportunities for growth. Islamic law also encourages voluntary charity (Sadaqah) and cooperative practices to foster a sense of community and shared responsibility