#525 The code of conduct to be observed by the followers

The code of conduct to be observed by the followers - Operations Management

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Q.No. 1 The code of conduct to be observed by the followers of Islam in their individual and social life is called Shariah. It is the compendium of all the injunctions and guideline principles derived from the Quran, Sunnah and other sources. How will you classify the different aspects of individual and social life activities under the umbrella of Shariah? Moreover, classify the levels of shariah rulings derived from different sources of shariah by giving examples.

Q.No. 2 Evaluate the different forms of Riba involved both in monetary as well as in barter exchanges by giving examples.

Q.No. 3 How gharar (excessive uncertainty) takes place in different contracts? What are its legal effects on financial and non-financial transactions?

Q.No. 4 In order to solve socio-economic problems of man, different systems have been tried in different countries of the world. The most dominant are Capitalism and Socialism. Since these systems are man-made, therefore, face many flaws and drawback. Analyze these

flaws in Capitalism & Socialism and explain that how these flaws have been addressed and overcome by Islamic Economic System?

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