This article looks at some of the descriptive and prescriptive teachings of Al-Quran and Sunnah (Ways of Prophet Muhammad [pbuh]) on consumption and spending behaviour.
Islamic Texts on Consumption and Spending
Economics and Pro-Social Behaviour
A great number of empirical studies now challenge the position of conceptualising human behaviour only in the framework of a rational, utility-maximizing homo-economicus. Yet, this framework is used for the purpose of simplicity and tractability in situations where abstraction does not result in major loss of focus and information at hand.
Consumerism and Credit Cards: Implications for Islamic Finance
It is important to pursue financial engineering in innovative ways, but also keeping in view the Ahkam and Maqasid of Shari’ah.
Islamic Economics Project 