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Islamic economics grew naturally from the Islamic revival and political Islam whose adherents considered Islam to be a complete system of life in all its aspects, rather than a spiritual formula [86] and believed that it logically followed that Islam must have an economic system, unique from and superior to non-Islamic economic systems.
Islam and modernity is a topic of discussion in contemporary sociology of religion.The history of Islam chronicles different interpretations and approaches. Modernity is a complex and multidimensional phenomenon rather than a unified and coherent one.
Between the 9th and 14th centuries, the Muslim world developed many advanced economic concepts, techniques and usages. These ranged from areas of production, investment, finance, economic development, taxation, property use such as Hawala: an early informal value transfer system, Islamic trusts, known as waqf, systems of contract relied upon by merchants, a widely circulated common currency ...
Islamic modernism is a movement that has been described as "the first Muslim ideological response to the Western cultural challenge", [Note 1] attempting to reconcile the Islamic faith with values perceived as modern such as democracy, civil rights, rationality, equality, and progress. [2]
Modern-era (20th to 21st century) Islamic scholars include the following, referring to religious authorities whose publications or statements are accepted as pronouncements on religion by their respective communities and adherents. Geographical categories have been created based on commonalities in culture and across the Islamic World.
Therefore, Islam could relate to the modern world as an ideology. According to Shariati, the historical and original origin of human problems was the emergence of private ownership. He believed that in the modern era, the appearance of the machine was the second most fundamental change in the human condition.
Today, the concept of an aniconic Islam coexists with a daily life for Muslims awash with images. TV stations and newspapers (which do present still and moving representations of living beings) have an exceptional impact on public opinion, sometimes, as in the case of Al Jazeera, with a global reach, beyond the Arabic speaking and Muslim audience.
In Shia Islam, however, images of Muhammad are quite common nowadays even though historically, Shia scholars opposed such depictions. [ 20 ] [ a ] Still, many Muslims who take a stricter view of the supplemental traditions will sometimes challenge any depiction of Muhammad, including those created and published by non-Muslims.