Market Mechanisms in Islamic Economic Perspective

Abstract

Market mechanisms are a key element in economic systems, playing a role in the distribution of resources and the allocation of goods and services. In conventional economics, markets operate based on the laws of supply and demand without regard for moral aspects, often giving rise to problems such as economic inequality and exploitation. In contrast, Islamic economics offers a sharia-based approach that emphasizes justice, transparency, and social responsibility. This article examines market mechanisms from an Islamic perspective through principles such as the prohibition of usury, gharar , and monopoly, as well as the implementation of redistributive policies such as zakat and infaq to create balance and blessings. This research uses a qualitative descriptive approach based on relevant literature. The analysis shows that the application of market mechanisms in Islamic economics is not only effective in addressing modern economic problems but also creates a more just and sustainable system