Sample Term Paper
The financial products of the modern economy are often regarded as conceptual economics because they claim to provide a financial solution to the people facing financial crisis. But the Islamic banking supports the Makased El Shariah. The cumulative term that defines the desired goal of Islam in a particular society is termed as Makased El Shariah.
As a matter of fact effective economic activities define the overall health of a particular country so it is for this reason that a special emphasis is made on the proper and adequate circulation of wealth in Islam. Banks symbolizes the financial growth and sovereignty of a particular community so Islam does not forbade its followers from trading or making profits but yet the Makased El Shariah is a comprehensive Islamic strategy that gives priority to the welfare of people rather than individuals (Suwalium, 2009). So the financial system that mainly encompasses the banking sector has the responsibility to circulate he wealth in a way that each member of the community gets equally benefitted and accumulation of wealth does not prevails.
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