The role of Islam religion in the consumers behavior with emphasis on Islamic beliefs and ethics

We discuss to show how Islamic values can be incorporated into economic analysis. we examine the demand side, where a Muslim consumer allocates his budget to different uses.The goods in the consumption bundle of a Muslim consumer should be only those permitted by Islam, that is a Muslim individual consumes halal goods only. In other words a Muslim consumption set includes tayyibat (select things).While conventional economics is now in the process of returning to its pre–Enlightenment roots, Islamic economics never got entangled in a secular and materialist worldview. It is based on a religion worldview which strikes at the roots of secularism and value neutrality .To ensure the true well-being of all individuals ,irrespective of their sex, age, race religion or wealth ,Islamic economics does not seek to abolish private property ,as was done by communism , nor does it prevent individuals from serving their self-interest .It recognizes the role of the market in the efficient allocation of resources, but does not find competition to be sufficient to safeguard social interest .It tries to promote human brotherhood ,social-economic justice and the will-being of all through an integrated role of moral values ,market mechanism ,families ,society ,and ‘good governance ’.This is because of the great emphasis in Islam on human brotherhood and social-economic justice. The market is not only institution where people interact in human society. They also interact in the family, the society and the government and their interaction in all these institutions is closely interrelated. Mutual sacrifice is necessary for keeping the families glued together.Lack of willingness to make such sacrifice can lead to a decline in the quality of the human input to all other institutions, including the market, the society and government.

Keywords:

Islamic Economics , Conventional Economics , Muslim Consumer , Religious Consideration , Optimization