Introduction

 
I started in 1968, while I was a counselor to the State Council of Justice. teaching a courses on "Economic Thought in Islam" at Al-Azhar University During my five years of teaching there. I saw this course develop into one on “Islamic Economics”. within this period, I published in 1972 the first edition of "Introduction to Islamic Economics".

 This edition was soon out of print, and I thank Allah that it had a tremendous influence on various research publications that appeared later in this field of study. Another influence of this book was that people in the Moslem world finally realized the need for teaching similar courses at the university level.

 I was asked many a time to re-edit this work, but I felt I had first to carry out some research. This was done and the result was published in the series “Economics in Islam” with the hope of disseminating it among the majority of readers.

 I started this series with the present book entitled The Essence of Economics in Islam and the Importance of Islamic Economics. This book is based on two papers delivered at the Seventh Congress of Moslem Ulema which ‘was held in Cairo from 9 to 14 September 1972. These two papers were at the origin of two recommendations proposed by the Congress. Viz..

1. The Congress believes that the system of Islamic economics differs from other economic systems. Economics in Islam, which seeks social justice and dignity for all, is based on solid principles brought forth by the Koran and the Sunna. The Congress believes that each country will have to adapt the application originating from these principles to suit its own needs.
    
2. ‘The Congress recommends that universities and research institutes in the Moslem World prepare the means and provide positions for the teaching of economics in Islam and the subordinate systems appropriate to local conditions, so that Moslem economics become free of the bondage of foreign economic theory. [Note: The seventh congress of Moslem Ulema held in Cairo in 1972 was the first to initiate the idea of teaching Islamic economies at it universities and institutes of higher education After the First International on Islamic Economic was held in February 1976 this area of study became a required subject in many universities and institutions of higher education in the Moslem World]

What I hope to achieve within the limits of my ability and specialization is to express in daily language the principles that make up the foundations of economics in Islam on the one hand, and on the other. to find ways for the application of these principles in various modern economic policies and for providing Moslem solutions to current problems. I shall do this in a contrastive analysis which will show the uniqueness and the superiority of Islamic economics over the capitalist and socialist systems.

This, however, is not an easy task to do since research in the domain of economics in Islam is scarce as there has been no ijtihad or interpretation since the fourth century of the Hijra. Besides, due to the rapid growth of the world economy and the complexity. of modern economics. research in this domain has become of prime importance. The effort of all researchers in Islamic economics is therefore needed both at the level of discussion of the economic principles in Islam, and at the level of application of these principles to solve current economic problems.

We shall now tackle the first topic in the series “Economics in Islam” in two parts:

Part I . The essence of economics in Islam

part 2. The importance of Islamic economics.

Publications in the same series (in Arabic)

1. Islam and Economics
   1^st edition 1978.
   Anglo-Egyptian Press. 2^nd ed. 1982,
   Assalam International Press.
   This book examines the question of poverty and how Islam deals with it by comparing this view to the capitalist and socialist systems.
    
2. Islam and Insurance
   1^st ed. 1979, Cairo and Riyadh Book World Press.
   2^nd ed. 1983, Saudi Arabia Okad Press,
   This book examines various insurance systems and proposes newMoslem way for insurance.
   
3. Islam and Social Security
   1^st ed. 1980, Saudi Arabia
   Thaqeef Press, 2^nd ed. 1982, idem.
   This book deals with the question of Zakat and its application in the modern world
   
4. The Economic Doctrine in Islam
   1^st ed. 1981, Saudi Arabia
   Okad Press.
   This book answers the question of whether there is an economic doctrine in Islam to confront the current economic situation.

Other Publications by the same author (in Arabic)
 

1. Towards an Islamic Economics
   1^st ed. 1979, Taif Zaidia Press.
   2^nd ed. 1981, Saudi Arabia Okad Press.
   
2. An Introduction to Islamic Economics
   1^st ed.. Saudi Arabia : Thaqeef Press.
   (This book has been translated into French and English.)
    
3. Islam and Just Redistribution of Wealth
   1^st ed. 1984, Saudi Arabia Thaqeef Press.
    
4. The Concept and Methodology of Islamic Economics
    1^st ed. 1984, Mecca Moslem World League.

May Allah help me in my endeavor to contribute to the understanding of Islamic economics. I hope that Moslems and the world at large will abide by its principles, as this is the right path to salvation. I do hope that within the limits of my knowledge, I have presented people with something beneficial to them, and hope by this act to gain the mercy and forgiveness of Allah.