Sample Essay

The Shariah law is a completely different system of law and legislature regarding economics, politics, banking, social issues as well as the rights of the people which are entirely based on the teachings of Islam, the teachings of the Prophet Muhammad through his life and the derivations and interpretation made by the Islamic Scholars and clerics. The Islamic Commercial Law is also entirely based on the Shariah and follows the rules and guidelines provided by that, however the Islamic Commercial Law is also compatible with the commercial law of the rest of the world particularly the England Common Law.

The main reason for this is that the products, services, laws, and procedures that are outlines for business transactions and the management of the economy are based on simple rational rules of human rights and behavior. Moreover the Shariah allows room for interpretation from which the Islamic scholars have interpreted the teachings of Islam to develop a very similar form of Islamic Commercial Law that takes into account the needs of the people while still not indulging in the Haram elements of Riba/ interest, gambling, alcohol trade, and pork trade.

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