The economic system in Islam: a model for all men

The author, at the University of London, relates that Islam is relatively comprehensive in its regulation of the believers' economic lives. The ownership of all things finally rests with God; hence human beings have only duties and obligations to Him. Humans themselves can claim no rights of their own because all they have came from God; simultaneously, they are and must act with the responsibility of God's viceregents on earth. Hoarding is wrong in Islam, but wealth can be put to proper and virtuous ends. Muslims' lives must both be properly oriented spiritually and properly oriented materially. The author discusses the prohibition of interest with support from al-Qur'an and he further elaborates that money gained from un-Islamic practices is not held as permissible. Dishonesty is condemned; charity is urged. The author briefly discusses awqaf, or religious trusts. Drawing from al-Qur'an and ahadith, the author presents how an Islamic economic order grants, among other things