Islamic Economics

The Islamic economics system in its principles ,  is a moderate middle system   combine the element of competition with the advantage of digging up the weak. Societies, if they adhere to its law, proceed in moderation and balance to achieving social justice and equality.

Can be applied as a system ?

According to which individuals and groups are equal in duties and rights, taking the interest of the individual taking it in the interest of the group. So that one side does not rise at the expense of the other or one right overrules the right, or one interest prevails over an interest.

A system that enables the individual to have freedom of earning and work, freedom of pursuit and ownership, freedom of production and consumption, but restricting his disposition to rationality, and not being ruthless so as not to return his work and scourge the interest of the community. God Almighty said: “and do not give your money to fools that God has made for you .  

 By adding money to the group, instead of adding it to the individuals who own it according to the law, and he did not say and do not give the fools their money.

Advantage of islamic economics 

Islam is in front of the freedom of the individual. Despite what it has granted him of the right of individual ownership, it has not made him squander what is in his possession of God’s money in which he entrusted his righteous servants. In accordance with the Almighty’s saying: “And spend from that which he made.

You entrusted with”  Also he was not able, under the Shariah, from any opportunity that would enable him to extract wealth from the hands of individuals without giving return or compensation and to eat people’s money unjustly. In the hadith, “Every Muslim is forbidden to another Muslim: his blood, his wealth and his .

One of its advantages is that it imposes the necessary measure of what life does, in solidarity with society. In addition, legislates zakat, etc. for its sake, and then allows other than that the disparity of livelihood, which is considered one of the secrets of the course of the wheel of life, and its rotation on every kind of honorable and humble deeds.

Some writers claim that the Islamic economy is individualistic, knows the individual property, and is ignorant of the collective. Those who hold this view are not specialists in Islamic economics, nor its legal sources. Rather, they issue judgments, based on the existing conditions.

Some writers claim that the Islamic economics is individualistic, knows the individual property, and is ignorant of the collective. Those who hold this view are not specialists in Islamic economics, nor its legal sources. Rather, they issue judgments, based on the existing conditions.

Islamic economics  principles

Among the principles of Islamic economics are:

–         Adopting the interests of the individual and the group.

–         Taking the middle and moderate approach.

–         Equality in duties and rights, and equal opportunities for all individuals. In it, Imam Ali bin Abi Talib said: “I looked at the Book of God and did not see in it any preference for the son of Ismail over the son of Ishaq.”

–         Applying the rule of zakat, and establishing solidarity or social security, for the benefit of every incapacitated, damaged, or the unemployed person whose doctrines have become accustomed to living.

–         Considering the collective property in the person of the state, or the tribal or local group, while recognizing the private property that came into the possession of individuals or companies by legitimate means.

–         Develop money and invest the treasured money, in accordance with the saying of the Prophet: “Except for the guardian of an orphan who has money, let him trade in it for him, and not leave it until the charity eats it.”

–         The law of supply and demand, and the freedom of markets, in accordance with the saying of the Prophet (peace be upon him): “Let people be blessed by God from one another.”

–         Freedom of ownership, freedom of production, freedom of consumption, freedom of trade… on the condition that they are within the limits of Sharia and law, away from taboos and infringement on the rights of others.

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 Islamic Economics  

          In order for us to be free from confusion and clear the vision of the Islamic economics , we should put the reader’s finger on the point of convergence and separation and ask about the concept of Islamic economics  and its position among the many economic concepts.

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  Its status and principles                                                                                                                                     

   The Islamic economic system in its principles – not in many of its societies – is a moderate middle system that is  unfair individual, nor an extremist group that has not imprinted with the character of capitalist extravagance, nor with communist oppression combine the element of competition with the advantage of digging up the weak. Societies, if they adhere to its law, proceed in moderation and balance to achieving social justice and equality. According to which individuals and groups are equal in duties and rights, taking the interest of the individual taking it in the interest of the group. So that one side does not rise at the expense of the other or one right overrules the right, or one interest prevails over an interest.

       Economics word a general word, its concepts are not specific, as manifested in the capitalist doctrine, which focuses on private ownership, production conditions and its factors, and that the freedom of a for one, taking care of his personal interest, thus preserving the element of competition, which is the main engine in the development of production…

And the communist doctrine, which focuses on collective ownership, the system of distribution, and nations of private property, caring for the interest of the group, extirpating the needy class…While we see the Islamic economics proves private ownership within the limits legitimate legal, collective in the person of the state, or a tribal or local group …

And it means production and the conditions of acquisition, its concern for distribution, and the manner of consumption, combining between the element of competition that drives production, and the liberation of the needy class, which is guaranteed by the right to zakat and the like.

       Hence, it becomes clear that economic concepts are not identifiable, except through each direction or doctrine separately. It was defined in Islamic economics – linguistically, originally and legally – by adopting the approach of moderation and moderation, as is taken from the words of the Prophet, as Imam Ahmad narrated in his Musnad: The Sharia is the person who is known for good management and balancing between resource and expenditure.

In his financial policy, he strives to mediate between excess and negligence… In spending he is neither extravagant nor stingy, and in production he proceeds at a balanced pace that guarantees success and protects against the consequences of improvisation, so you see all his actions It is imprinted with the kindness that Islam brought… and what is said about the individual is said in the family and the state…

 From principles of islamic economics

-Money development and frozen money promotion.
-Law supply and demand, as will become clear when analyzing the theory of value, adopting work as the basis for acquisition, and encouraging the competitive element in the field of production and work.

-Freedom of ownership, and the freedom of production and consumption, and freedom of trade and transactions, provided that they are in the limits of Sharia and law far from infringing on the rights of others .

-Pay the wages in full and without delay, and the messenger ordered that the wage-earner be given his wages beforedries up his sweat.

-There is no acquisition or benefit from the money of others except by work, return, compensation, or good will .bribery or favoritism nor privilege, nor abuse of influence, nor institutions of temptation and vice, and man does not take advantage of his fellow man.

-Encourage international exchange between muslims and foreigners a like.

The study as a whole aims to devise an integrated applicable scientific economic Islamic approach .

The value of the study is the value of its sources and the importance of the void that fills it.

The researcher is neutral in nature, working to obtain results from the results, and not  make it. His credibility is to avoid assumptions and perceptions, let his research create himself, and pronounce his results, with every text or opinion referred to its source

The field economics

The field of economics is a vital field that has weighed down in life, attracted global thought and its problems rattled the countries and societies due to its severe impact and its importance not only with regard to study , but with regard to life and its importance appear in the connection of human life and its material destiny to its wheel, Because it is indispensable for an individual or a family or A group or a state … A nation may live without literature or philosophy, but it does not live without resources that secure its life and guarantee its continuity … And before we find its members thinking about entertainment and luxuries, we find them thinking about the necessities of life.

 The concept of the word economics and the nature of the main trends under it

The word economics, a word used by the private and public, to the extent that its use unlike many sciences – has gone out of the scientific framework and made its way to popular circles.

That is because it linked to a vital reality that imposed its presence and dominance over the lives of individuals, families, states, and societies …

It helped in its circulation and popularity that everyone believed that economic progress was the basis or measure of general progress. Their meanings and concepts near and far, have not defined, nor have they scientifically or legally controlled, and they differ in the past and the present, according to the different trends of the economic doctrines and the extent of their relationship to the political and social doctrines and the goals envisaged behind them. As a model for this difference, we take a brief picture of the character that marked the main economic trends or systems represented in the capitalist, communist and Islamic direction.

It expresses the originality, stature and advantage of the Islamic economy as a nation’s economy. God described it as a nation in the middle and its middle economy .

Islamic economics approach to wealth production and consumption -edition arabic-

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