Norms & Institutions

Social Norms & Economic Institutions: Secular Versus Islamic

Contents

1. INTRODUCTION:

2. Historical Context and Background:

3.1: Traditional Societies:

3.2: Market Societies:

3.3: Conflicts in Market and Social Norms:

4. The Transition from Traditional to Market Norms:

4.1: Freedom in the Social Sphere:

Simplicity Versus Luxury

2.2 Freedom in the Economic Sphere:

Waqf Versus Banks.

4.2.2 TAKAFUL Versus Insurance

Freedom in the Political Sphere:

4.3.1 Shoora Versus Democracy

Consensus Versus Rivalry & Opposition

BANKS:

INSURANCE:

STOCK MARKETS: