Some Orders in Islamic Law Concerning Market

Abstract

In Islamic Law, harmony and stability in economic life were given prime concern, and so many protective regulations were made by means of pricing policies in order to establish a stable and sustainable economic life. In this way, interests of producers as well a consumers and the interests of entire society were given equal priority and treated equally under the Islamic Law. In Islamic Law, regulations concerning economic order can be categoried the regulations related to goods and services mentioned in the contract, regulations related to the protection of interests of the parts in the contract, and regulations related to problems risen after the contract. Islam did not only made regulations concerning market order but also supported these regulations on ethical ground in order to maintain an effective economic system.