Legal grounds of Islamic Economics: interaction between Islamic and European legal cultures

Abstract

Leonid Sykiainen analyses legal grounds of Islamic economics and problems of interaction between Islamic and European legal cultures. The main problems of the modern Islamic economics, the author argues, are legal ones. Different sides of this phenomenon are directly linked with traditional Islamic legal doctrines and institutions. There are three main meanings of Islamic economics, and each of them is based on Islamic religious, ethical and legal conceptions. The principle task is to formulate legal constructions on the basis of religious and pure moral provisions of Islam. The modern Islamic economic law differs from legal grounds of Islamic economics for the first one comprises only Islamic legal norms and principles contrary to the second one which consists of interaction between norms, principles and institutions going back to Islamic and European legal cultures.