Major modifications in this revision are as follows: From the Islamic perspective, Muslims must follow the right ethics in accordance to Islamic . This Malaysian Standard is the second revision of MS 1500, Halal food - Production, preparation, handling and storage -General guidelines (First revision). 279-81). Whichever food substances mentioned in any one of these sources mentioned above, be it Halal (permissible) or Haram (forbidden), is interpreted as being Islamic Law. Islamic economic system, in fact is based upon the principle of justice which governs all the basic aspects of economy like production, distribution, consumption and exchange. By its spending it promotes production and by its taxation it discourages production (pp. Since the main source of the Islamic Law is Al-Quran, all Islamic rules are also Allah's Law. In addition, relevant secondary data are collected from the websites, survey Land. Four (4) factors of production from the Islamic perspective are as follow: 1. It refers to all natural resources gifted by Allah, which are usable in the process of production. Since the government constitutes the greatest market for goods and services, and is a major source of all development (pp. Man should utilize the resources according to al-Quran and al-Sunnah as land is a … The Islamic system takes care of the interests of everyone in … The sources of the Islamic laws are the Al Quran, Hadith, Ijma’ and Qiyas. Mischievousness to animal handling during production, transport, and slaughter in states where Islam is the main doctrine has created doubts about the quality of products. It is shown that the field of Western social sciences was the outcome of the revolt against the Church in the eighteenth century by the scholastic school to … A comparative and critical examination of the methodology, goals and history of development of the field of Western social sciences in Islamic perspectives is presented. This paper is a descriptive analysis on ‘Islamic perspective of economic rationalism and consumption.’ To prepare this, Al-Quran, the revealed book of ALLAH, different Hadith books, different articles, papers and books has been reviewed carefully. Economics is treated as a parallel case study in this respect. This will cause the consumer to bear the prices of goods or services that are provided by entrepreneurs promising them high returns regardless of lawful and forbidden in Islamic law. principles (Al-Quran 59:7). they could not keep up with the cost of production to foreign companies. Production and Consumption of Genetically Modified Food: An Islamic Perspective Mohammad Tariqur Rahman Department of Biotechnology, Kulliyyah of Science International Islamic University Malaysia Abstract The chemical composition of the genetic material or DNA (deoxyribo nucleic acid) of all living organisms is Islamic Consumer Goods under the authority of the Industry Standards Committee on Halal Standards.