Economic morality in Islam

Submitted by Anonymous (not verified) on Thu, 08/22/2019 - 16:08
Year
1993
Country
Pakistan
Language
English
Abstract

In the Islamic economic order, human dignity takes priority over economic and social circumstances. Because people see everything that happens in Muslim countries as 'Islamic,' the untarnished image of economics in Islam has been hurt. The zaka , a central institution in Islam, is a community project to benefit the society's poor. The institution is referred to often in al-Qu'ran. While fatalism is not a characteristic of the Islamic outlook, there is a key concept that the ownership of all things is with God. Man uses the things of this world, but he does not create them. Humans are the viceregents of God. Muslims are collectively obliged to look after their community. While both zaka and charity act as caps on the amassed wealth, it cannot be said that the two are the same. Some items, such as water, are held in Islamic economics as communal property. Usury is prohibited. Indeed, it stands as an antithesis of zaka . Six occurances have been cited by the thinker Ziauddin S

English
ISSN/ISBN
0250-7196
No. of Pages
pp.89-102
Number
4
Volume
XVI
Select type of work
Name of the Journal
Author(s)
CIS Program Old
CIS publications
No
CIS Thesis
No