DefinePK

Abstract

Economics has been the main subject of interest of man since the beginning of times. The scarcity of resources and huge demands of man has given much significance to economics in human lives. Before the advent of Islam, the powerful section of society exploited the weaker section to fulfill the demands of former. Islam gave a new life to society by its golden principles of equality in livelihood, circulation of wealth and economic gradation in society. The guiding principles of Islam are a source of national progress and economic development. This article shows insights of Islamic economic system with special focus on comparative study of the theories of Manazer Ahsan Gilani and Hifz-ur-Rehman Sewaharvi. Also attempts are made to improve economic governance in light of teachings of Islam and comparative analysis of the findings of these scholars