Open AccessNigerian Economic Recession: An Islamic Perspective
Author(s) -
Ali D. Yusuf,
Mohd Shahril Ahmad Razimi
Publication year - 2017
Publication title -
international journal of islamic banking and finance research
Language(s) - English
Resource type - Journals
eISSN - 2576-4144
pISSN - 2576-4136
DOI - 10.46281/ijibfr.v1i1.34
Subject(s) - recession , islam , transparency (behavior) , capitalism , socialism , perspective (graphical) , economics , global recession , capital (architecture) , islamic economics , economic system , political economy , political science , law , geography , keynesian economics , communism , archaeology , artificial intelligence , politics , computer science
As Nigerian economy continue to face constant economic recession, despite abundant of both natural and human resources in Nigeria due to adoption of falsehood economic system of capitalism inherent in its economic system. The major world views of economic system is on either capital or socialism which proved to be failures for centuries the only solution to the present economic predicament is Islamic economic system, which is recession proof, as it is purely based on ―Adl‖ which is fairness and justice, social responsibility, transparency, trust worthiness, and sharia compliance.