Will Be Updated Soon

Brief Introduction to “Applied Islamic Economics”
We will discuss every case study with two different approaches.
The normal situation with the assumption of an interest-based economy.

Real GPD = Interest Rate + Employment Rate+ Inflation
+ Literacy Rate + Real Assets Growth
+Social Welfare + Crime Ratio
+ Moral Values + State Tax Rate

Welfare state under the condition of an interest-free economy.

Real GPD = Zakat + Employment Rate+ Inflation
+ Literacy Rate+ Islamic Taxes
+ Real Assets Growth
+ Welfare for All
We will discuss the second scenario with the hypothesis that an interest-free economy prevails under the Islamic economic system. The objective of this economy is to provide welfare for all.
The coronavirus pandemic and lockdowns during this period can provide us with case studies for different regions of the world. So the comparison of both scenarios will reach us out to the conclusion that a welfare state can be established with the condition of an interest-free economy.
Or
If a case study is not possible with the second scenario, we can introduce a dummy variable set equal to zero to fulfill this condition.