The Islamic Doctrine of Economics and Capitalism: Comparative Analysis, Assessment and Future Policy Recommendations for Pakistan

Abstract

The research investigates the prospect of the financial system of Islam and the viability of its growth alongside traditional financial services within another capitalist system schema, and it proposes modified native stock investments as a pragmatic groundwork for Sharia principles constructed on principles of Islamic teachings. This research work will contrast the theories of integrity and socio-economic justice in the two rhetoric. A conceptual analysis that follows serves as the foundation for policy recommendations. The research is exclusively normative, and discussing it from a logical standpoint is outside the scope of this research. The said investigation would also have implications and recommendations for policymakers and professionals while adjusting Contemporary Western constructions, power structures, regulations, paradigms, etc. To some extent, in order to be compatible with the advancement of the Islamic Economic System. Finally, the study examines the efforts and measures that have been taken to Islamize Pakistan's economy.