ECONOMIC ASPECT OF ISLAM AND APPLICATION OF SUNNAH :: Economic conception of Islam :::::::::: The economic conception of Islam lies in man’s relationship with Allah,His universe and His people. It is a total commitment to the will of Allah,involving both submission and a mission to pattern to human life in accordance with his will. The will of Allah constitutes the source of value and becomes the end of human endeavor. Life on earth is a test, and its purpose should be to prove successful in the test by doing Allah’s will. The entire universe with all the natural resources and powers is made amenable to exploitation by man, though it is owned by Allah and Allah alone. Life on earth being a test and all the provisions available to man being in the nature of a trust, man is accountable to Allah and his success in the life Hereafter depends on his performance in this life on earth. This adds a new dimension to the valuation of things and deeds in his life. The relationship between man and man is sharing the bounties of Allah. It is agreed that for the test life is to be conducted in fair circumstances and no one should go without an adequate share of resources that are needed for survival and a good life. Equality of opportunity and social care of disabled is the minimum that this calls for. It is also agreed that Islam rejects asceticism and a good life means, among other things, a materially well provisioned life. Sufficiency (kifayah) and peace (amn) are two inalienable features of the good life envisaged by Allah, a point that finds the widest support in the literature on the subject. Men are encouraged to avail themselves of the vast opportunities of productive enterprise afforded by the almost limitless bounties of Allah; given the right motivation all economic activities assume the character of worship (‘ibadah). Legitimate individual needs include the fulfillment of personal needs and those of the family. Saving to provide for the future and desire to leave on inheritance are also recognized as proper ends of productive effort. The minimum necessary for survival is in fact of duty to earn. Eradication of hunger and poverty, disease and illiteracy and mobilization of resources for strengthening the Islamic state and spreading the message of Allah are stated to be the laudable aims of individual economic activities. One who engages in production activities for these purposes is doing Allah’s will, and is promised adequate rewards here and Hereafter. In Islam real ownership belongs to Allah, man holds property is trust (amanah) for which he is accountable to Him, in accordance with rules clearly laid down in the Shari‘ah and the economic philosophy. Acquisition of property as well as its use and disposal are subject to limits set and should be guided by the norms laid down by Allah. Absolute ownership of man is a concept alien to Islam, as it belongs to Allah alone. The rule in Islam is that all rights belonging to Allah are for the good of the individual as well as the society. The individual, the society and the state each have claims on property rights in view of the principle that the Islamic State has a jurisdiction over individual rights being the embodiment of Allah’s vicegerency on earth and representative of the people. The jurisdiction is, however, functional, depending upon the values and objectives cherished by Islam. Islamic State has the right to intervene in private property by regulating it, putting ceiling or confiscating after the compensation when the owner deviates from the basic role of property. Economic relations, especially those in production and exchange of wealth, should be co-operative in nature. Rivalry and cut throat competition make no sense in this context. Co-operation is seen as the basic value in Islam’s economic concept, aiming at, what is best for the society and high quality produces and the consumers. The Islamic view of co-operation does not rule out free and fair competition in the market, provided all economic agents adhere to Islamic morality. Islam’s economic conception creates a powerful drive for development. A true Muslim looks upon the developmental efforts as striving in the cause of Allah. The Muslim society orients its policies in order to ensure sufficiency and peace for all and any relaxation in this regard is looked upon as rejection of the bounties of Allah. Social justice and peace go together in an Islamic State. As far as economic equality is concerned, Islam instituted the system of zakah ensure that no individual falls below a certain minimum of material wellbeing. The income from this zakah was distributed locally to the poor and the needy section of every region or province and if some surplus was left after satisfying the needs of the common people, it was remitted to the central government. Rasul-Allah(S.A.W) defined zakah in the following words: Allah has laid down on them a sadqah which is taken from the rich and returned to the poor. Here the phrase, returned to the poor is very significant. It indicates that the wealth taken from the rich belongs, in fact, to the poor. Islam found its programme on a spiritual basis invited the whole of mankind to transcend the lower level of animal life to be able to go beyond the mere ties fostered by the kinship of blood, racial superiority, linguistic arrogance and economic privilege. It invited mankind to move on to a plan of existence where, by reason of his inner excellence, man can realize the idea of the Brotherhood of man. By becoming self controlled individual, a Muslim becomes a member of the community of the righteous ones. He concerts with them to the end that the community enjoins what is right upon the rest of the world and to prohibit what is forbidden so that mankind can march forward on its way to Allah. Not withstanding the comprehensive nature of social policy in Islam, the specifically economic aspects practiced by the regime at Madinah were: The Qur’an and Sunnah took a positive attitude to economic enterprise. The Qur’an says: it is He who has produced you from the earth and settled you there in to develop it’. And Rasul-Allah(S.A.W) says: There is a reward for anyone who cultivates land who produces and feeds a living being. All types of unearned income were prohibited: Usury, gambling, monopolistic trade practices, speculation, and the meddling of middle men were ruled out by the Qur’an and Rasul-Allah’s(S.A.W) directions. Thus, al-Nabiyy(S.A.W) said: monopoly is unlawful, do not trade outside the market place, and allow no gobetween in urban and rural trade. A zakah on the agriculture produce of Muslims, their animal possessions, their merchandise, and their possessions in precious metals, was collected as zakah. Eight categories of deserving people were the receipts of zakah. This established a welfare system. Land liberated by force and thus controlled by Islamic State was distributed on the same basis as other spoils of war, with a fifth for the State and the rest for the warriors. Land which came under Muslim control without war was not divided but became State property. The State could, therefore, own land in the following ways: by allocation, as share in spoils, and, if they cultivate it, dead land which no one else possessed. Individuals could then exploit their land either directly or indirectly through rent (ijara) water partnership (mussagah) or crop partnership (muzarah). The State employed its revenue from different taxes levied on the people to finance the administration and defense. The surplus was distributed as income to all members of the community. Islam recognized the importance of material well being. The Qur’an says: ‘O! You who believe, do not forbid yourself the good things which Allah made lawful for you, and do not exceed the limits.’
Posted on: Wed, 21 Jan 2015 09:56:44 +0000
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