Is Islamic Finance Has Achieved Development For Society?

Islamic finance in theory began with Islamic law, which came as part of an integrated system comprehensive life dealing with worship and transactions and ethics, in a balanced manner make legislation relating to worship the words from the teachings of detailed addresses of worship with respect to provisions in all its details minute, as in prayer, fasting and Zakat The pilgrimage, though the tendency to worship God is innate, but the details, you can not rely on human nature to learn the proper way to practice; legislation so it was dealt with in detail.
With regard to transactions, the origin of Islamic law that deals with many of them in its entirety, and gives an outline of its provisions, because the legislation with regard to the provisions of the transaction is based mostly on the wisdom of the phenomenon, as it is not a destination "Sharaa" often in such transactions to highlight the commitment and discipline orders "Sharaa" - but at the end of the case, but the destination is the real achievement of justice and the public interest of the community, and the balance between the individual's right hand that gets it is the product of diligence, on the other hand the right of society on the one hand that in general to achieve the public interest and not harm the structure of community economic .
Therefore, most provisions relating to financial transactions, a reflection of the wisdom of the phenomenon of the legislator, as it seeks to achieve interest and balance the pros and cons, so most of the issues related to these transactions, we find that the interests of the evils and interest requires giving priority to whichever is greater impact, if GLBT interest in the transaction, the legislation tends even, in some cases, to cram them, but if overcome corrupting the legislation tends to leave and prevention of them, this is of course a general rule can not drop its image outlined the details of the provisions always, but when what appeared judgment on the issue of it with certainty that the public interest so requires .
Through the evaluation process of Islamic finance, and because Islamic law in transactions in the interest of the phenomenon can be felt by the human, the question on the impact of applications of Islamic finance in the development and treatment of economic problems in society is a project, especially when we see that some Muslim communities suffer economic problems, chronic , in addition to the weakness in productivity compared to many countries in the world, whether developed or emerging, as well as high rates of poverty and unemployment, poor nutrition, and health and educational problems in some countries, a reflection of the poor economic situation. 8020 fat loss
We know that the Islamic finance began since the start of the message, but the perception of the modern Islamic finance began in the seventh decade of the last century when it began to experience Ahmad al-Najjar in 1963, followed by a series of experiments, where she focused these experiments on the banking business, especially after the experience of Bank of Dubai Islamic in 1975, and today we are 50 years after the establishment of the first experience of contemporary Islamic finance, we do not find a major development of the economies of Islamic countries, equivalent to the developments of many countries in the world, and to reflect what their natural wealth and human resources, and including also reflects the legacy great historical , and its strategic location between nations.
There is no doubt that the experience of banks and the subsequent subsequent developments did not achieve real development even though in itself is not a draft negative impact on society, but it can be described as the experience is incomplete because it did not exist integration of the components of Islamic economics, as the experience to complete not must be a strategy to build the potential of human resources, and optimum utilization of natural resources, and build a productive industrial, agricultural and service makes the productivity of the individual outweigh the needs, and this is the simple equation of the economy productive, then the banks and the financial sector in general, a tributary of the productive sectors and enhanced their growth, as that banks today are still far somewhat from real participation in the productive sectors, as the practice of contracts, such as contracts for the company or speculation that will enhance the role of financial institutions, positive, and lays the foundation for building development projects in the community, and fills the gap in Islamic societies is the absence of capital which enhances the potential of human resources, and the optimum exploitation of natural resources, but the role of Islamic finance will remain weak in promoting the progress of the development of Islamic societies. im john chow
Conclusion .. Islamic finance, although it has achieved significant growth during the last period, but that its impact on development in Muslim societies weak for lack of integration in the components of the Islamic economy, and the weakness of the role of Islamic financial institutions, which depends on positive contracts, such as contracts Posts and speculation.

Salah Bin Fahad Al-Shalhoub
Option Bot 2


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