A Critical Analysis Of The Prehistoric And Contemporary Business, Economic And Commercial Trade In Islamic Perspective

Abstract

The prehistoric and contemporary history of worldwide Business is as deep-rooted as the needs of Products and services arise. During the ancient era, people used to exchange goods under barter. Hazrat Sulaiman (A.S) firstly, adopted the exchange of goods as a trade. He started a commercial fleet of ships and formed commercial agents` team to get economic and trade information from different towns and far away areas. This activity continued until the arrival of Greek Rulers. The Greeks gave full attention to develop the importance of trade during their reign successfully. Afterward, the rulers tried to maintain the development of their political and economic affairs with all the possible policies. During the regime of Romans, "Bomi" and “Aughost” achieved the peak of economic and commercial activities. However, during the regime of "King Tabeer" the downfall begins rapidly. Over time, the Arabs started to control the trade. The Arab Economic system during that era was full of imperfections. Hence, it needed to come with modern economic concepts but keeping in view the basic concepts of the Islamic Economic System.