Main Article Content
Abstract
2008 financial crisis is believed as the worst during the history. Many says that neither this is the first and nor the last. The discussions on the background are still on progress. Howover, some causes are indicated to be responsible for the crisis such as strategic complementarities, leverage, asset-liquidity mismatch, regulatory failure, fraud, contagion effect, and lack of liquidity. Without ignoring those factors, according to sharia economics view there are other causes
contribute to the current crisis such as involving interest (or riba in general), gharar, maysir, and tadlis in mainstream global financial transactions. Furthermore, bad modern human lifestyles such as debt-based transactions also play an important role to cause the crisis.
This article is an attempt to discuss this problem from Islamic economic approach. It would suggest some ideas to prevent any kind of financial crisis in the future. They are ereasing financial operations involving riba, gharar, maysir, and tadlis in financial transactions, promoting equity
financing, strengthening small business enterprises, aligning financial and real sectors, and revitalization of gold dinar.
Keywords: financial crisis, Islamic finance, dinar-dirham.