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FOREWORD One of the major manifestations of the current revival of the Islamic world has been the emergence of a scientific movement which advocates the return to the sources of the Islamic thought in an attempt to derive the substance which will help devise a new approach to all aspects and applications of mental life and intellectual endeavour. The aim is not only to tackle the problems of today’s society in the light of Islamic values and prescriptions but also to open up new prospects by breaking the current monopoly of the Western positivist approach.

The movement has given rise to new intellectual trends which investigate vital issues in the life of Muslims, including the economic issue which is a determining factor in Man’s effort to improve his material condition and to be able to lead a decent life.

A new approach was therefore developed in economic analyses and studies with an increased awareness of the need to curb the pressure exerted by the foreign materialistic philosophy. The search for new economic rules based on Islamic material and spiritual values led to the recognition of the distinct features of an Islamic economic order which is clearly different from other economic systems, especially the positivist one, if only because it is based on fixed principles which are set in the holy Qur’an and in the Sunna and which provide for the dignity of man and for social justice.

The aim of this book, published by the Islamic Educational, Scientific and Cultural Organization - ISESCO - is to shed light on the basic economic principles in Islam and express them in modern language. It is, thus, an attempt to see how those fundamentals apply in different economic situations and offer an answer to contemporary economic problems.

In publishing Dr. Muhammad Shawki Al Fanjari’s “The Essence of Economic Policy in Islam and the Importance of Islamic Economics”, the Islamic Organization - ISESCO - seeks to emphasize a particular aspect of the comprehensiveness and richness of Islamic thought, a task which is in line with the provisions of its Charter calling for the dissemination of Islamic thought and cultural values. ISESCO is thus doing its best to make this part of the Islamic heritage accessible to the public so that they may comprehend the true nature of Islam, the greatness of its principles and the perennity of its message. This is indeed one of the major tasks assigned to this Organization which seeks to foster an adequate environment for strengthening the bonds of solidarity among Muslims and enhancing their position in the world.

We hope this book will encourage the reader to give further thought to the issue of Islamic economic policy which reflects one of the aspects of the independent and comprehensive nature of the Islamic methodology.