Conventional economy is different from Islamic economy. The former is based on the
behavior of economic units that is not tied to certain Sharia norms. On the contrary, the latter
asserts that individual behavior is limited to Sharia rules. In practice, conventional economy only
pays attentions to changes taking place in economic variables. In contrast, not only does Islamic
economy focuses on the changes, it also avoids what Sharia forbids. The behavior of Islamic
economy actors is based on the theory of Islamic economy (consisting of such concepts as tauhid,
‘adl, nubuwah, khilafah dan ma’ad), and its principles: ownership, freedom and social justice. In practicing
these, the actors of Islamic economy are guided by ethics. Rules like these are not to be
found in conventional economy, in which rentseeking can distort economic pratices which may
lead to business failures and economic unstability.