Ma`rifat Eqtesadi

Economic crises represent structural vulnerabilities in contemporary economic systems and are often rooted in speculative behavior. The central issue of the research is to analyze the role of speculative behavior in creating and evaluating the potential of the Islamic financial system in preventing crises. In response to the question of the fundamental causes of major economic crises in the West and the ability of the Islamic financial system to prevent the occurrence and spread of similar crises, the present research presents the following hypotheses: (a) speculative behaviors have played a central role in the formation and escalation of crises; (b) Islam by emphasizing mechanisms such as participation in profits and losses, and tools such as the prohibition of usury, land ownership based on productivity, wages based on added value, the rule of no harm, the prohibition of Adherence to falsehood, prohibition of impurity, etc., and the principles of transparency and justice, have the necessary capacity to prevent crises. The research methodology is based on descriptive-analytical approach and historical data and case studies have been analyzed. The innovation of the article is in explaining the concept of "financial demoralization". The findings of the research indicate that the Islamic financial system, by limiting unproductive activities and encouraging productive investments, can help to create economic stability and reduce systemic risks and act as a preventive framework to prevent future financial crises.