Slamicization of the common financial system

Abstract

The financial system consists of a three-layered reality, respectively, principles, institutions and knowledge. The half-hidden of which are principles, and institutions. This paper proves in a library way that financial knowledge is based on certain principles and the impossibility of separating its principles makes it impossible to overshadow its nature with superstructural changes. Among the intrinsic features of common fiscal patterns and policies are: sufficient to empirical knowledge and ignorance of revelatory cognition, instrumentalist method, mathematical and statistics fact-making templates, the centrality of reason is an objective and partisan tool, neutrality and separation from value, reason is a function of desires, man's interpretation of a greedy and greedy creature, competition and herd behavior, promote gambling and interest. It was also proved that the current financial economy, despite its beautiful appearance, has caused serious damage to the economy, which is rooted in the principles and goals of capitalist economics. Falling into the trap of these patterns, has led to continuous crises in the real economy, the emergence of profit-oriented and uncontrolled anti-production patterns, moral hazards, declining social capital and lack of values in society. Accordingly, the financial system and consequently the institutions and models derived from it, even with the appearance of sharia contracts, are not Islamic. The basic condition for the validity of Islamic financial versions is the formation based on principles, Figh and moral criteria.

Keywords

• financial economics
• principles
• islamic financial system
• islamizatio
• financial crisis methodology