Addressing Economic Recession In Islamic Perspectives

Calamities and other forms of hardships or difficulties happen among people, societies or nations times after times. Sometimes, the calamities, hardships or difficulties happen naturally while some other times they are caused or invited by people. People experience hard times like wars, communal, ethnic or religious clashes, famine, plague, high cost of life etc. These hard times normally cause untold hardships to people ranging from loss of lives, lost of properties, displacement and other forms of uncertainties. This paper therefore tries to explain what economic recession is and its types. It also tries to look at the causes of economic recession presently facing Nigeria and other countries of the world and the possible remedies to the phenomenon in Islamic perspectives. The paper will finally proffer suggestions on how to overcome the situation in the Islamic view point.