Islamic economics in the context of "Islamic banking and finance"

Muamalat (also muʿāmalāt, Arabic: معاملات, literally "transactions" or "dealings") is a part of Islamic jurisprudence, or fiqh. Muamalat has been defined as Islamic "rulings governing commercial transactions",but also more broadly to include civil acts and in general all aspects of fiqh that are not Ibadat, i.e. not acts of ritual worship such as prayer or fasting, (See organizational chart of the structure of Islam below in "Principles" section.)

Mu'amalat provides much of the basis for Islamic economics, and the instruments of Islamic financing, and deals not only with Islamic legality but also social and economic repercussions and the rationale of its prohibitions (according to Monzer Kahf). Even a broad definition of Muamalat does not deal with all aspects of property and money in Islam, as zakat — compulsory alms giving that is one of the five pillars of Islam — is part of Ibadat division of fiqh.

Sharecropping is a legal arrangement in which a landowner allows a tenant (sharecropper) to use the land in return for a share of the crops produced on that land. Sharecropping is different from tenant farming, which provides the tenant greater autonomy, and higher economic and social status.

Sharecropping may be a traditional arrangement of land governed by law. The French métayage, the Catalan masoveria, the Castilian mediero, the Slavic połownictwo and izdolshchina, the Italian mezzadria, and the Islamic system of muzara‘a (المزارعة), are examples of legal systems that have supported sharecropping.

Hassan Ahmed Abd al-Rahman Muhammed al-Banna (Arabic: حسن أحمد عبد الرحمن محمد البنا; 14 October 1906 – 12 February 1949), known as Hassan al-Banna (Arabic: حسن البنا), was an Egyptian schoolteacher and Imam, best known for founding the Muslim Brotherhood, one of the largest and most influential global Islamist movements, and for his death at the hands of the Egyptian government.

Al-Banna's writings marked a turning-point in Islamic intellectual history by presenting a distinct and all-encompassing modern ideology based on Islam. Al-Banna considered Islam to be a comprehensive system of life, with the Quran and Sunnah as the only acceptable constitution. He called for Islamization of the state, the economy, and society. He declared that establishing a just society required development of institutions and progressive taxation, and developed an Islamic fiscal theory where zakat would be reserved for social expenditure in order to reduce inequality. Al-Banna's ideology featured criticism of Western materialism, British imperialism, and the traditionalism of the Egyptian ulema. He appealed to Egyptian and pan-Arab patriotism but rejected Arab nationalism and regarded all Muslims as members of a single nation-community.

Jamia (جامعة jāmi‘a; also jamiya[h]) is the Arabic word for gathering. It can also refer to a book Al-Jami'a or a mosque, or more generally, a university. In the latter sense it refers in official usage to a modern university, based on the Western model, as opposed to the medieval madrasa. The term seems to be a translation of "university" or the French "université" and emerged in the middle of the 19th century; the earliest definite use in this sense appears in 1906 in Egypt.

In Islamic economics, Jamia refers to a rotating savings and credit association commonly found in various communities, especially in Muslim majority countries. These associations involve members contributing money into a common pool on a regular basis, with each member taking turns receiving a lump sum from the pool. Jamia facilitates access to funds for various purposes without resorting to interest-based borrowing. Under sharia law, the payment of interest, known as riba, is forbidden due to its perceived exploitative nature of borrowers. Jamia in this case, offers a method that adheres to Islamic principles without resorting to interest-based borrowing.