The Quran As The Basis Of Islamic Economics (The Thoughts of M. Yasir Nasution and Amiur Nuruudin)

Abstract

Economy is an inseparable part of life. The process of the exchange trough certain agreements create a system usually called as economic transactions. Islam as a universal religion has set and provided the proper ways of action in running life socially, culturally and economically. The development of Islamic economics showed its existence as one of the solid building science around the 1930s when the awareness of an economic system rises in accordance with Islamic character and morality. According to the thought of H. M. Yasir Nasution revealed that Islamic economics is a science and system that originates from the imperative revelation of Allah SWT for the benefit and welfare of mankind. Economy with Islamic substantive law concerns on ethics and morals. However, there is a precautionary principle, especially in economic institutions that have liquid assets. Then, Amiur Nuruudin stated that from the Qur’an as a basic economy, it can create reliable human resources in managing shari’ah economics. And from the point of view of Islam, it aims to create social justice. The quality of equilibrium will dominate the economic horizon in Islamic economics.