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[2] Islamic economics is a broad field, related to the more specific subset of Islamic commercial jurisprudence (Arabic: فقه المعاملات, fiqh al-mu'āmalāt). It is also an ideology of economics similar to the labour theory of value, which is "labour-based exchange and exchange-based labour".
Article 2 of Egypt's 2014 Constitution declares the principles of Sharia to be the main source of legislation. [38] Egypt's law and enforcement system are in flux since its 2011 revolution; [39] however, the declaration of Sharia's primacy in Article 2 is a potential ground for unconstitutionality of any secular laws in Egyptian legal code. [40]
By the 21st century this Islamic Banking movement had created "institutions of interest-free financial enterprises across the world". [32] Loans are permitted in Islam if the interest that is paid is linked to the profit or loss obtained by the investment. The concept of profit acts as a symbol in Islam as equal sharing of profits, losses, and ...