Foundations of Islamic Economics/أسس الاقتصاد الإسلامي
Islamic economy is based on Quran, Sunnah of Prophet and his Ahl Al-Bayt. These three sources are guiding foundations. Quran is a book of principles and guidance. We cannot claim it to be a detailed book. Here in comes the role of reason and rationalism. Creating frameworks and systems thereby resulting in a school of thought in various domains is the aim of reason and rationalism in Islam. One example is Islamic legal system and theory is the proof of this as it has developed greatly until colonialism when it started declining and in some cases collapsed. Western legal, philosophical, scientific and economical thought thrived during this time of colonialism as European colonial tyranny gained more factors of productions, knowledge and experimental opportunities from their colonies.