Abstract
Abustract: In the present era, Muslim-Ummah is facing many economic issues like the impacts and pervasiveness of Capitalism, economic retrogression, usury, issues of labor, lack of moral values in economy and etcetera. At present, in the world, there are two main systems; Capitalism and Communism. Dr. Allama Iqbal was convinced that the economic system of Islam must be implemented because both these systems are away from moderation. It was his view that if we detach religious principles from economics, it would be destroyed. That is why he always considered moral values an indispensable part of economy. He laid stress on finding the solution of economic issues in the light of Islamic teachings. He believed that implementation of Islamic principles is indispensable for economic prosperity. He used to say that the economic prosperity in the era of Four Caliphs was made possible by acting upon the Islamic doctrines. The purpose of this research paper is to highlight the economic thoughts of Allama Muhammad Iqbal which are interpretations of Quran and Sunnah. An attempt is made to suggest a solution of the economic issues of the present era in the light of the economic thoughts of Allama Muhammad Iqbal. This research paper followed descriptive and analytical approach.
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