الرئيسية
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التسجيل
The Economic System of Islam
Economics
is the science concerned with the production, distribution and
consumption of goods services, wealth and resources. It plays a
significant role in the social structure of Islam, so significant that
Allah did not leave the economic aspect of life to be determined by
pure human intellect and experience, but made it the subject of
Revelation. The Quran categorically promises peace and plenty for those
who follow the Divine Code and for those who turn away from it, Quran
promises scarcity (20:123,124) . In this verse the term ‘MAEESHAT’ has
been used from which comes the word ‘MASHIYAAT’ the translation of
Economics recognised by all.
The
Quranic Order of life does not put off the realisation of its fruits
until after death, nor does it hide them in spiritual abstractness. The
economic condition of a people constitutes a pragmatic test for the
soundness of the revealed guidance. Those who do not ensure that the
poor are provided their due help, will ultimately taste hell
(69:34,35)(76: 8,9,10). Nobody has seen hell, but its taste is quite
evident when the poor, exploited and the downtrodden masses unleash
their fury on the wealthy. Those who have the means must help the needy
without prejudice (30:38, 2:215).
Surah
Inam (6:11) contains an assertion that there is no one moving with life
whose sustenance has not been assured by Allah. Surah Bani Israel
(17:31) assures mankind in particular, that they should not kill their
of spring fearing poverty, since Allah provides sustenance for them as
well as for their off spring. But with this solemn assurance on the one
hand, we see on the other hand millions dying of hunger and struggling
for food, Does this indicate non-fulfilment of the responsibility
solemnly assured by Allah? No, that is unthinkable, how do the two
positions reconcile? Surrah Yasin(36:47) shows that is where human
efforts and affairs are concerned, Allah’s responsibility is discharged
not directly but indirectly through human beings. Allah does not feed
the hunger directly; the Social Order established to enforce Divine
Laws feeds them.
The
mutual relationship between the individual and the Islamic social order
is an unwritten agreement – a contract with Allah, in which the
individuals surrender their life and possessions to Allah in return for
Jannah (9:11). Of these the life and possession are tangible and
identifiable commodity and the seller (Believer) is a living being. The
other two, God & Jannah, are abstract and intangible. In precise
economic practise how can it be possible to strike a bargain with the
buyer (God) with the price missing, or at best remaining in
imagination? “Selling one’s life to Allah is an empty slogan, a
deluding mirage used as a tool by the religious oligarchy to hoodwink
and emotionally mislead the ignorant masses. The contract can be
meaningful only when it is realised the God and Jannah are as real as
man and life. Only bringing God and Jannah into intimate and vital
relationship with living human experience can do this. This is exactly
what Quran does, there is undoubtedly a Jannah which will be attained
after death, but according to Quran, the life of Jannnah can also be
attained in this world provided a social order is built on the lines
given the God. The main characteristics of this earthly Jannah have
been cited in Sura Taha (20:118) wherein none will remain with out food
or clothes none will suffer thirst nor heat. In other words, in the
earthly Jannah no one remain un-provided with the basic necessities of
life.
Muslims
are those who give preference and priority to the needs of others than
their own (59:9) Quran even admonishes those ‘namazis’ who are ignorant
of man’s needs and fail to provide food to the hungry and sit on the
sources of nourishment. Such worshippers (namazis) disgrace their
religion (107:1-7)
Bodily needs have a prior claim on man. Hunger
is the most powerful of these needs. A hungry man has no eyes for
values and will only turn to higher interests when his hunger is
appeased. Before engaging in good deeds, man demands an assurance that
he and his children will not starve for want of food the Quran gives
this assurance.”We will provide you and your children” (6:152, 17:31,
29:60))
The
Islamic economic and social system lays down certain fundamental
principles. The foremost being that the earth cannot be the property of
any individual. It is a means of production and shall remain available
for the needy in an equal manner (41:10) there (in the
land) is sustenance for you, those for whom you do not provide’
(15:20). It is thus clear that land, like water, air, heat & light,
is God’s gift to all men. For a man to claim proprietary rights to them
is tantamount to claming equality with God. Surah Al –
Waqiah (56:63-73) discusses the cultivation of land and the role of the
tiller. It is clear that this Divine programme we participate in is a
joint business venture in which the capital investment is made by God
and we contribute only labour; while we must hand over the rest to God,
that is to the needy for the development of society. Allama Iqbal in
Bal–e–Jibril, expresses this idea in lines of exquisite beauty and
concludes:
‘Who nourishes the seed in the soil?
Where no ray of light penetrates?
Who raises clouds from the waves of the ocean?
Who drove hither favourable wind from the West?
Whose is the soil whose the light of the Sun?
Who has filled the ear of corn with pearly grain?
Who has taught the seasons to change with regularity?
Landowner! The land is neither thine nor mine’
The
second principle is that surplus money, the basis of capitalism, should
not remain with individuals Surah Baqra (2:219) contains a question and
its answer. The question asked by the faithful is ‘How much money
should we keep open for the social order for meeting the needs of the
needy?’ The answer given by the Quran is ‘Say’ whatever is left, after
meeting your own needs. The word ‘sood’ or interest is not be found in
the Quran.Practises which are harmful to and create hurdles in the
growth and progress of humanity have been collectively called‘Al-Riba’
by the Quran. It includes loans; interest on it is only one aspect of
Riba. The hoarding of wealth, exploitation of the hard labour of others
and usurping their due is also Riba. In general, wealth earned through
wealth is Riba.
The
third principle is that wealth shall circulate throughout the different
strata of society and not only through the upper stratum (59:7) Those
who defend capitalism argue that a communistic society deprives man of
the incentive to work and that in a capitalistic society there is full
scope for private enterprise and individual initiative. Everyone works
because he knows that he will enjoy the fruits of his labour. National
wealth increases and the people are hardworking and prosperous.
Capitalists however fail to realise that while making the rich richer,
it has often driven the poor to the verge of starvation. In a communist
set up man is hardly free. He is a mere cog in a gigantic machine; a
member of a highly regimented society.
The
Quranic social order which shall be established in stages and not
overnight.’ Verily the promised revolution is sure to come; there is
doubt about it yet most of mankind believe not ‘(40:59). This is what
the West is afraid of .To some extent they have been successful in
getting rid of communism, but in picking Islam as their next enemy they
have erred. The policy of killing Muslims is not going to destroy the
Islamic economic concepts; rather a large majority of the people in the
west are curiously turning to study Islamic values. This is a war they
are not going to win; as the Quran proclaims that ‘All man made systems
will eventually fail and die, only the true Islamic economic political
and social system will survive the test of time and dominate. The Quran
proposes diverse measures to guard against the accumulation of wealth
in the hands of the few. Usury i.e. money earned through capital is
declared to be unlawful and a war against God (2:275). Man is enjoyed
to help his parents, relatives and others in need. By prohibiting
hoarding, it ensures that money is kept in circulation. Muhammad (PBUH)
never hoarded a single penny throughout his ‘life, nor owned any
properly. There are all claims of being ‘Ashiq–e– Rasool’ , but nobody
follows Muhammad (PBUH) in this respect. Islam prescribes compulsory
social insurance through the system of Zakat and which is altogether
different from charity. The conventional assessment of 2½%
of appears to be retrogressive, as it has remained stagnant for
centuries like the Muslim mind and society. Through Ijtehad, this has
to be changed and made progressive according to the needs of the
society.
The
Fifth principle of the Quran is that no one shall subsist on the
earnings of another and that expecting those who have become
incapacitated everyone shall work Quran calls them ‘Mutrafeen’ who lead
an easy life on the earning of others and mentions 3 groups. One group
consists of those’ who take with even balance and give less (with an
un-even balance). Another group comprises those who inherit money,
land, property etc. by reason of birth and collect move wealth as a
consequence. (89:20) the third group is made of priest–craft. Surah
Tauba (9:31) refers to such clerics and says that the majority of them
eat up the earnings of others without having any right to it and
thereby stand in the way of their the benefit of humanity. In respect
of the earnings of women, the Quran says that they have full rights
over what they earn (4:32). All monetary transactions should be
formally documented (2:282).
Islamic
economics system is liberal, progressive, equalitarian, productive and
intensely responsive from a social point to view. While it definitely
tends to control capital, it insists on man’s pursuit of the absolute
values and to the service of all mankind. It is distinctive and can
neither be equalled with communism on account of its antithetical
evaluation of free enterprise, private property and class – struggle;
nor with capitalism on account of Islam’s un-compromising opposition to
the institution of interest. Supreme value is given to the human self
and its development. This intense worth distinguishes Islam from other
systems
Economics
is the science concerned with the production, distribution and
consumption of goods services, wealth and resources. It plays a
significant role in the social structure of Islam, so significant that
Allah did not leave the economic aspect of life to be determined by
pure human intellect and experience, but made it the subject of
Revelation. The Quran categorically promises peace and plenty for those
who follow the Divine Code and for those who turn away from it, Quran
promises scarcity (20:123,124) . In this verse the term ‘MAEESHAT’ has
been used from which comes the word ‘MASHIYAAT’ the translation of
Economics recognised by all.
The
Quranic Order of life does not put off the realisation of its fruits
until after death, nor does it hide them in spiritual abstractness. The
economic condition of a people constitutes a pragmatic test for the
soundness of the revealed guidance. Those who do not ensure that the
poor are provided their due help, will ultimately taste hell
(69:34,35)(76: 8,9,10). Nobody has seen hell, but its taste is quite
evident when the poor, exploited and the downtrodden masses unleash
their fury on the wealthy. Those who have the means must help the needy
without prejudice (30:38, 2:215).
Surah
Inam (6:11) contains an assertion that there is no one moving with life
whose sustenance has not been assured by Allah. Surah Bani Israel
(17:31) assures mankind in particular, that they should not kill their
of spring fearing poverty, since Allah provides sustenance for them as
well as for their off spring. But with this solemn assurance on the one
hand, we see on the other hand millions dying of hunger and struggling
for food, Does this indicate non-fulfilment of the responsibility
solemnly assured by Allah? No, that is unthinkable, how do the two
positions reconcile? Surrah Yasin(36:47) shows that is where human
efforts and affairs are concerned, Allah’s responsibility is discharged
not directly but indirectly through human beings. Allah does not feed
the hunger directly; the Social Order established to enforce Divine
Laws feeds them.
The
mutual relationship between the individual and the Islamic social order
is an unwritten agreement – a contract with Allah, in which the
individuals surrender their life and possessions to Allah in return for
Jannah (9:11). Of these the life and possession are tangible and
identifiable commodity and the seller (Believer) is a living being. The
other two, God & Jannah, are abstract and intangible. In precise
economic practise how can it be possible to strike a bargain with the
buyer (God) with the price missing, or at best remaining in
imagination? “Selling one’s life to Allah is an empty slogan, a
deluding mirage used as a tool by the religious oligarchy to hoodwink
and emotionally mislead the ignorant masses. The contract can be
meaningful only when it is realised the God and Jannah are as real as
man and life. Only bringing God and Jannah into intimate and vital
relationship with living human experience can do this. This is exactly
what Quran does, there is undoubtedly a Jannah which will be attained
after death, but according to Quran, the life of Jannnah can also be
attained in this world provided a social order is built on the lines
given the God. The main characteristics of this earthly Jannah have
been cited in Sura Taha (20:118) wherein none will remain with out food
or clothes none will suffer thirst nor heat. In other words, in the
earthly Jannah no one remain un-provided with the basic necessities of
life.
Muslims
are those who give preference and priority to the needs of others than
their own (59:9) Quran even admonishes those ‘namazis’ who are ignorant
of man’s needs and fail to provide food to the hungry and sit on the
sources of nourishment. Such worshippers (namazis) disgrace their
religion (107:1-7)
Bodily needs have a prior claim on man. Hunger
is the most powerful of these needs. A hungry man has no eyes for
values and will only turn to higher interests when his hunger is
appeased. Before engaging in good deeds, man demands an assurance that
he and his children will not starve for want of food the Quran gives
this assurance.”We will provide you and your children” (6:152, 17:31,
29:60))
The
Islamic economic and social system lays down certain fundamental
principles. The foremost being that the earth cannot be the property of
any individual. It is a means of production and shall remain available
for the needy in an equal manner (41:10) there (in the
land) is sustenance for you, those for whom you do not provide’
(15:20). It is thus clear that land, like water, air, heat & light,
is God’s gift to all men. For a man to claim proprietary rights to them
is tantamount to claming equality with God. Surah Al –
Waqiah (56:63-73) discusses the cultivation of land and the role of the
tiller. It is clear that this Divine programme we participate in is a
joint business venture in which the capital investment is made by God
and we contribute only labour; while we must hand over the rest to God,
that is to the needy for the development of society. Allama Iqbal in
Bal–e–Jibril, expresses this idea in lines of exquisite beauty and
concludes:
‘Who nourishes the seed in the soil?
Where no ray of light penetrates?
Who raises clouds from the waves of the ocean?
Who drove hither favourable wind from the West?
Whose is the soil whose the light of the Sun?
Who has filled the ear of corn with pearly grain?
Who has taught the seasons to change with regularity?
Landowner! The land is neither thine nor mine’
The
second principle is that surplus money, the basis of capitalism, should
not remain with individuals Surah Baqra (2:219) contains a question and
its answer. The question asked by the faithful is ‘How much money
should we keep open for the social order for meeting the needs of the
needy?’ The answer given by the Quran is ‘Say’ whatever is left, after
meeting your own needs. The word ‘sood’ or interest is not be found in
the Quran.Practises which are harmful to and create hurdles in the
growth and progress of humanity have been collectively called‘Al-Riba’
by the Quran. It includes loans; interest on it is only one aspect of
Riba. The hoarding of wealth, exploitation of the hard labour of others
and usurping their due is also Riba. In general, wealth earned through
wealth is Riba.
The
third principle is that wealth shall circulate throughout the different
strata of society and not only through the upper stratum (59:7) Those
who defend capitalism argue that a communistic society deprives man of
the incentive to work and that in a capitalistic society there is full
scope for private enterprise and individual initiative. Everyone works
because he knows that he will enjoy the fruits of his labour. National
wealth increases and the people are hardworking and prosperous.
Capitalists however fail to realise that while making the rich richer,
it has often driven the poor to the verge of starvation. In a communist
set up man is hardly free. He is a mere cog in a gigantic machine; a
member of a highly regimented society.
The
Quranic social order which shall be established in stages and not
overnight.’ Verily the promised revolution is sure to come; there is
doubt about it yet most of mankind believe not ‘(40:59). This is what
the West is afraid of .To some extent they have been successful in
getting rid of communism, but in picking Islam as their next enemy they
have erred. The policy of killing Muslims is not going to destroy the
Islamic economic concepts; rather a large majority of the people in the
west are curiously turning to study Islamic values. This is a war they
are not going to win; as the Quran proclaims that ‘All man made systems
will eventually fail and die, only the true Islamic economic political
and social system will survive the test of time and dominate. The Quran
proposes diverse measures to guard against the accumulation of wealth
in the hands of the few. Usury i.e. money earned through capital is
declared to be unlawful and a war against God (2:275). Man is enjoyed
to help his parents, relatives and others in need. By prohibiting
hoarding, it ensures that money is kept in circulation. Muhammad (PBUH)
never hoarded a single penny throughout his ‘life, nor owned any
properly. There are all claims of being ‘Ashiq–e– Rasool’ , but nobody
follows Muhammad (PBUH) in this respect. Islam prescribes compulsory
social insurance through the system of Zakat and which is altogether
different from charity. The conventional assessment of 2½%
of appears to be retrogressive, as it has remained stagnant for
centuries like the Muslim mind and society. Through Ijtehad, this has
to be changed and made progressive according to the needs of the
society.
The
Fifth principle of the Quran is that no one shall subsist on the
earnings of another and that expecting those who have become
incapacitated everyone shall work Quran calls them ‘Mutrafeen’ who lead
an easy life on the earning of others and mentions 3 groups. One group
consists of those’ who take with even balance and give less (with an
un-even balance). Another group comprises those who inherit money,
land, property etc. by reason of birth and collect move wealth as a
consequence. (89:20) the third group is made of priest–craft. Surah
Tauba (9:31) refers to such clerics and says that the majority of them
eat up the earnings of others without having any right to it and
thereby stand in the way of their the benefit of humanity. In respect
of the earnings of women, the Quran says that they have full rights
over what they earn (4:32). All monetary transactions should be
formally documented (2:282).
Islamic
economics system is liberal, progressive, equalitarian, productive and
intensely responsive from a social point to view. While it definitely
tends to control capital, it insists on man’s pursuit of the absolute
values and to the service of all mankind. It is distinctive and can
neither be equalled with communism on account of its antithetical
evaluation of free enterprise, private property and class – struggle;
nor with capitalism on account of Islam’s un-compromising opposition to
the institution of interest. Supreme value is given to the human self
and its development. This intense worth distinguishes Islam from other
systems
