AMIC ECONOMIC SYSTEM (from M. Syafii Antonio’s “Islamic Banking – from Theory to Practice”, p.

6 - 2001

SYSTEM ISLAMIC ECONOMIC SYSTEM

SECTOR Public Sector (Siyasi)Private Sector (Tijari)

Social Welfare (Ijtimai)
• Maintenance of Law, Order,
Justice and Defence
• Wealth Creation
• Implementation of Economic
• Economic Activities :
Major Policies
- Production
Islamic Social Security
• Management of properties (al Takaful al Ijtimai)
Function under state ownership
- Distribution
- Consumption
• Economic intervention if
necessary

• Public Sector entities :

• Government Ministries and - Bait al Maal
• Owner Operator
Departments - Bait al Zakah
Possible • Partnership (sharikah), joint
• Statutory Bodies
Institution stock companies, societies’
• Government companies • Private Sector entities :
cooperative
- Charitable organizations
- Individuals

Fiqh al-Muamalah Laws :

Government/administration Laws
- Al Mudharabah Ijtimai Laws :
- Company Law
- Al Musharakah - Al Zakah
-
Relevant Commercial Law
- Al Ijarah - Al Waqf
Laws - Land Law
- Al Kafalah - Al Shadaqah
- Mining Law
- Al Rahn - Al Qardh
- Taxation Law
- Etc.