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1. Faith in the Oneness of Allah, that there is nothing worthy of worship

except Allah, the Creator and Sustainer of the universe. He gave mankind a code

of life that guarantees their well-being in this world and in hte life

hereafter (ma`aash WA ma`aad).

2. Co-operation. Human beings cannot live independent of each other. They have

to live together and co-operate for the maximization of welfare and warding off

evils.

3. A member of the Islamic society is not an 'economic man' but one with the

goal of earning the pleasure of Allah through right action and service to his

fellow human beings. Good intentions and right action thrive when they receive

a positive response from others. Ultimately, competition in good deeds results

in benefits to all concerned.

4. Generosity and benevolence must prevail in the society. People should prefer

others' needs to their own needs. On the other hand, lust for money, and

miserliness is condemned in all cases. Luxurious living should be avoided. The

best policy is that of the middle ay.

5. In the society, there must not be monopoly, exploitation, fraud or ususious

transactions. Good should be enjoined and evil should be forbidden. The state

has an active role to play in economic life. It should intervene if freedom is

abused or people are not fulfilling their obligations.

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