Those financial institutions who have come into existence in Present era, in some of those Human social needs are attached moreover for turning interest-based system into non-Interest-based system under Islamic law. Apart from banking and insurance financial Documentation has been included, according to its prime objectives it is not contradictory to It, against bonds, step has been taken in shape sukuk which is based on different Islamic law. In modern banking system according, Islamic investments this topic is quite crucial therefore I Have chosen this an I have highlighted its definition and introduction under various Shariah Scholars Reflection and I have also tried my best to explain the benefits and features of Islamic sukuk.
If one thing that the failed coup by a small but some of the top hierarchy of Turkish armed forces on that fateful July 15, 2016 day made clear, it was: the ordinary civilians, unarmed as they were poured into the streets to defend the government whatever way they can. This massive public sympathy and support for Turkish President Erdogan and his government would be hard, if not impossible to understand, without knowing the historical intellectual, academic, and moral combat between the modernists and Islamist groups working within the country. Mustafa Kamal had turned Turkey, mostly by force, from Ottoman empire into the secular mode influenced by the teachings activists like ZiayGoklap. Mustafa Kamal used the military power to take over the Turkey and forced the last Caliph to Europe. Later on various Islamic revolutionary outfits and countless revolutionaries struggled for the revival of Ottoman empire. Among them Bediuzzaman Said Nursi managed to cast a strong influence through their interpretation of Holy Quran. A little later slow but steady and steadfast effort influenced by Nursi movement continued and remain continuing still, though Islam-shy Western powers managed to create an alternate power structure against sitting President TayyepErdogan. They, however, failed due to result oriented social work delivered by his regime in as Mayor (27-March-1994 to 6-Nov-1998) and then as Prime Minister (March 2003 to August 2014). It is a lesson for all other revolutionaries anywhere in general and Islamic revolutionaries and Governments that if politicians deliver no power can oust them like a bee from butter.
Today, we are living in a world which is very different from that of some centuries ago. As the economic relations among men and countries expand day in day out, they are thus maximizing the number of challenges and problems also. To provide a better tomorrow and a good atmosphere to live for the upcoming generation of mankind the basic need felt by the intellectuals all over the world is to change some of the very disastrous and dangerous aspects of the worldly economic system. Capitalism in its basic form i.e. Free Market with lasses pass lasses fair theory as well as Socialism with its staunch ideology and harsh behavior are no more acceptable economic systems in the opinion of a great many economic experts and intellectuals of the time. Mankind is in need to have the several emerging economic problems fixed and have a just economic system where every single man should possess the basic needs of living a sound life; sufficient food to eat, pure water to drink and a suitable shelter to live in.
Islamic Economics which came into light very strongly in recent time undoubtedly have very powerful and targeted solutions for the miseries experienced by world and thus Islamic Economic theories can indeed play a very useful role to bestow mankind salvation from the spears-like connotations of Capitalism and thorns-filled dreaming beds of Socialism. The only work we, the Muslims especially and the rest of mankind commonly, should do to put these theories and practices in work and then they will give us their fruits. This paper aims to highlight some of the national and international economic problems and to explain the solutions given by Islam regarding economic policy making, and also the duties of government bodies and the duties of common man as individual.