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Prohibition of Interest (Riba):
Prohibition of Speculation (Gharar):
Emphasis on Real Assets:
The Quran Allows Free Trade
Prohibition of Riba
Prohibition of Speculation
Emphasis on Real Assets
The Islamic Business Models
There are six major business models:
1. Selling Goods
2. Selling Services
7. Investment in Agriculture
Quality and Integrity:
Investment in Agriculture
Islamic economics encourages investment in agriculture, recognizing it as a vital sector that contributes to food security, economic development, and sustainable livelihoods. Agriculture holds a significant place in Islamic teachings, which emphasize the importance of nurturing the earth, utilizing its resources responsibly, and providing for the well-being of communities.
Islamic economics places emphasis on social justice and equitable development. Investment in agriculture can be directed towards rural areas, aiming to improve the socio-economic conditions of farmers and rural communities. This can include infrastructure development, access to markets, irrigation systems, training programs, and capacity building to enhance agricultural productivity and alleviate rural poverty.
Islamic economics encourages cooperative farming models where individuals or communities pool their resources and skills to collectively invest in agriculture. This fosters collaboration, risk-sharing, and the equitable distribution of profits. Cooperative farming can enable small-scale farmers to access resources, technology, and markets that would otherwise be challenging to attain individually.