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 theAlmighty’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.
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
Analytics cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
Cookies are small text files that can be used by websites to make a user's experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.