Ma`rifat Eqtesadi

The analysis of the features of Islamic market is one of the important subjects in Islamic economics, which has been hardly dealt with. Present research investigates the features of Islamic market in theory and practice, using a descriptive – analytical method. The main hypothesis of the research is that Islamic market can be recognized with such features as transparency, conformity with religious law, domination of Islamic ethics, direction and regulation of state, and that some manifestations of the realization of these features can be observed in the civilizational background of Islamic market. Transparency in Islamic market is affected by physical environment of Islamic market which strengthens Allah’s remembrance and fear of Doomsday, on the one hand. On the other hand, it results from strong divine motives to avoid being secretive about data. Price reduction, facilitating the exchanges, increasing the welfare of consumers, manufacturer’s added value, and finally increase in market efficiency, are among the outcomes of this strong transparency. In addition to state official regulation, the presence of seminaries and mosques in markets, which are formed in Islamic civilization, and their effective relationships with these markets have had a great impact on the observance of the prescriptions of divine law and Islamic morals in the market. Through inspiring the spirit of piety in the market, these Islamic institutions will cause the elimination of the bases of financial corruption, and emergence of the moral outcomes of seeking lawful morsel.