In the first part discusses the main features of the Islamic economy: taxation, riba, rent, private property and income distribution. In the second part argues that Islam has many similarities with capitalism although the type of capitalism presented by Islam is different to some degree than Western capitalism. Islam, however, does not have anything in common With Marxism. The third part concludes that the Islamic model is conductive to economic progress. A highly scholarly paper based on primary and secondary sources and fully documented. For Muslim economists and generel readers.