Economics is a science that is related with the study of distribution, production and consumption of wealth. Islamic scholars have developed a complete literature of economic discussion that is in correlation with Islamic principles. In the Islamic economics, distribution of wealth is given more importance as compared to the production of wealth. In order to determine this distribution, it is vital to consider the divine guidance. Islam has been under attack by different media sections all over the globe. No matter, what type of unfortunate incident happens in the world, the blame is put on Islam immediately.

This is often done by people who are biased and do not have any real understanding about this religion. Most of the Islamic economic system in the present world focuses on removing hunger and poverty. It is quite clear by studying Quran that Islam approves economic progress. Production of wealth increases with the increase in the production of necessities of life. The truth is that materialist economics is associated with warfare, while Islamic economics speaks about the preparation for life after this world. Wealth this is received by a human being is created by Almighty Allah and it is only his property.

Every poor and needy has right to get his share of wealth. It must not be shared nor it should be concentrated. Islam does not allow lending of money for the sake of interest. In various types of charities, a group of trustees is formed for looking after, monitoring, planning and organizing the assets. This group of trustees can make any kind of decision. Islam also forbids any type of speculation for earning money. It emphasizes on all of his followers to adopt the right path of intelligence and hard work to get hand on income. In short, Islam teaches all of its followers to take complete responsibility of the society. Following Islam and its teachings is the only method to remove the financial imbalance present in this world. Even western scholars are emphasizing on the fact that Islam has presented very sensible ideas through Holy Quran.

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