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This article deals with the nature of Islamic economics as a scientific paradigm which claims to be alternative to conventional economic thinking.
To critically evaluate this claim, the work investigates the peculiar religious and moral principles that shape the idea of social justice in Islam. Subsequently, it outlines how Islamic economics derives from these principles a specific conceptualization of property rights and commercial relations that embraces parameters of (1) primacy of real economy; (2) transactional equilibrium; (3) and profit- and risk-sharing.
By endorsing the conceptual autonomy of Islamic economics from conventional capitalism, the article also refers to the current emergence of the Islamic financial market at a global stage, and the possible implications for a plural financial system in the future.
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