The Muslims draw their guidance from their divine religious...

The Muslims draw their guidance from their divine religious sources such as Qura'n etc. 2.3. Islamic Economics The difference between the conventional and Islamic economics is the behavior of the economic agent in its economic activities on the basis of the concept of two lives: life on earth and life after death (Ahmad, 1980).

All divine religions in general and Islam in particular the belief in life after death and the Day of Judgment have significant effect on decision making process of economic agent. In conventional economics all the economic activities and its benefits are limited to the life on earth while Islamic economics has wider scope in time as well resource allocation process for decision making the life on earth and life after death…