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The question

What is the ruling of Islamic law on the knowledge-based economic system?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

The knowledge economy considers knowledge to be the main driver of economic growth and integrates technology into production. Islamic approves of what is good in it and rejects what is bad or a cause of injustice or deception. The fundamental principle in transactions is permissibility unless there is evidence of prohibition. Examples of Sharia's approval of this type of economy include the issue of intellectual property and moral rights, which scholars have affirmed. The International Islamic Fiqh Academy issued a resolution stating that trade names, trade addresses, trademarks, authorship, inventions, and innovations are private rights of their owners, recognized by Sharia, and may not be infringed upon. They may be disposed of for financial compensation if there is no harm, deception, or fraud. Authorship, invention, and innovation rights are legally protected for their owners, who have the right to dispose of them. This applies to all other aspects of the knowledge economy: what conforms to Sharia is accepted, and what contradicts it is rejected.

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Ftawy
Original fatwa ID
125798
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