The Financial crisis can be characterized by unrestrained credit crea-tion on the back of an out of control financial system that not only allows the creation of money and interest from nothing, but gambling on a mind-boggling scale. Wealth has been extracted out of the sys-tem in never before seen amounts, and will not be easily replaced. From an Islamic perspective this is entirely predictable and prevent-able. Yet the cure is requiring of the complete application of Islam within the governance structures set down within the Caliphate ruling system. A ruling system in which the economy is geared towards meeting the needs of the people, not faceless banking corporations. The following principles of economy in Islam are presented, not as reactionary points of debate to be part of the patchwork of crisis and flawed response, but as an ideological alternative which has enjoyed many centuries of success for Muslims and non-Muslims alike.