MANAGEMENT OF ECONOMIC RECESSION IN ISLAM THE NIGERIAN PERSPECTIVE

Global financial crisis is basically the failure of the capitalist economic system. This system has justified economic practices that are in conflict with Islamic economic system. Islam is an ideology that is derived from Allah SWT. Therefore, only the Islamic system which is able to save the world from destruction. Destruction of the global crisis that occurred in the beginning of the United States has an impact on all sectors, especially the financial sector. This can be resolved by removing the usury system, the implementation of the currency system based on gold and silver and that must be removed are non-real sector by closing the stock exchange and commodities transactions, the just distribution of market economy and market transparency