Conventional economics is very old and known for providing a lot to society and being a reason for the success of many, is not easy to be replaced. In conventional economics, the capitalist system influenced a lot of profits with limited resources for the people. On the other hand, the socialist system had the end goal of providing mutual prosperity in the form of groups, communities, or nations. Being the bases of the conventional economy, both systems were still not able to provide solutions to all the people’s problems.
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Conventional Economics Replacement through Righteous way of Earning
Conventional economics is based on different conventional ecosystems which are in use and being held for all kinds of financial matters. The most preferred and used ecosystems for a long time are the Capitalist ecosystem and the Socialist ecosystem. These Known ecosystems are in operation for a very long time. An alternative solution came into being in the early 1950s and till the 1970s it was completely known as an alternative as the name given Shari’ah compliance.
Islamic Eco System Introduced in Corporations
The alternative ecosystem was based on multiple aspects and found to be better in many ways than the Capitalist ecosystem or Socialist ecosystem. The Capitalist ecosystem or Socialist ecosystem allows a single person or entity to control the rates of currency and economic conditions by putting in or out a big portion of capital in the ecosystem. The system allows the benefit to some people but makes a lot of other people lose their money or the worth of their assets. Islamic ecosystem as an alternative the following aspect are important as an ecosystem.
Righteous Policies of the Islamic Eco-System in a Business
Islamic Eco System points out the human-friendly policies of Islamic economics and the betterment of the world it offers. The principles remain unchanged as these are obtained through Qura’an and Sunnah. The discouragement of cheating and unlawful means of earning is what provides the balance in opportunity and the balance circulation of capital. The circulation of capital to form a stable economy is done through other means of Islamic principles as well. The norms and culture and other initiatives of the Islamic counseling all favor the working of Islamic economics.
N7 Adoption Towards the Righteous Ecosystems
The N7 corporation believes in the betterment of others and believes that the flow of capital is necessary to earn righteously for themselves as well as for their stakeholders. In many years of business, the N7 corporation started with a conventional eco system but deliberately moved their operations towards the Islamic Eco System for the betterment of their clients as well as for their stakeholders and themselves. The righteous way of earning is the only way of earning.