Islamic Umma
The Economic Structure in Islam: Poverty and Riches Abolished
The Economic Structure in Islam: Poverty and Riches Abolished
The economic structure of the Islamic Umma, as is in the political and in the social structures, is based entirely on the man-God relationship. It is based on belief in God who provides mankind with their sources of sustenance and wealth and seeking the favour of God in order to attain the felicity in the hereafter.
The Qur'an informs us of the principle of economy in Islam:
‘And seek the abode of the Hereafter in that which God has given you, but do not neglect your portion of this world, and be you kind as God has been kind to you, but do not seek corruption on earth. Verily, God does not love corrupters.' 28: 77
Wealth and possessions are described as test and trial:
‘Assuredly you will be tried in your property and persons.' 3: 186
Humans are described as lovers of wealth:
‘And you love wealth with inordinate love.' 84: 20
The general idea of ownership in Islam is that God has bestowed it as a favour on whomever He pleases.
By doing so God has raised people in ranks according to their portions and their response to the message where they will be awarded in ranks according to their deeds in the hereafter:
‘Is it they who apportion your Lord's mercy (wealth)? It is We who have apportioned among them their livelihood in the life of (this) world, and raised some of hem above the others in rank that some of them may take labour from others; and the mercy of your Lord is better than (the wealth) that they amass.' 43: 32
‘See how We preferred some of them above others, and verily the hereafter will be greater in degrees and greater in preferment.' 17: 21
The main principles of the economic structure in Islam which the Islamic Umma ought to apply are:
a. Distribution of wealth among Muslims in a welfare community.
b. Expenditure in the way of God.
c. Middle way expenditure.
d. Forbidden income.
e. Platform-ceiling formula where poverty and riches abolished.
This schema ensures justice, equality and creates a pltafrom-ceiling formula where both poverty and riches are abolished for circulation of wealth among the totality of Muslims is an incumbent right.
About the Author
ente priyapetta umma-03 malayalam islamic.mp4
|
|
Midnight: A Gangster Love Story $3.61 Sister Souljah, the hip-hop generation's number one author and most compelling storyteller, delivers a powerful story about love and loyalty, strength and family. In her bestselling novel, The Coldest Winter Ever, Sister Souljah introduced the world to Midnight, a brave but humble lieutenant to a prominent underworld businessman. Now, in a highly anticipated follow-up to her million-selling master... |
|
|
Globalized Islam: The Search for a New Ummah (CERI Series in Comparative Politics and International Studies) $12.25 The spread of Islam around the globe has blurred the connection between a religion, a specific society, and a territory. One-third of the world's Muslims now live as members of a minority. At the heart of this development is, on the one hand, the voluntary settlement of Muslims in Western societies and, on the other, the pervasiveness and influence of Western cultural models and social norms. The ... |
|
|
Constructing Bangladesh: Religion, Ethnicity, and Language in an Islamic Nation (Islamic Civilization and Muslim Networks) $6.98 Highlighting the dynamic, pluralistic nature of Islamic civilization, Sufia Uddin examines the complex history of Islamic state formation in Bangladesh, formerly the eastern part of the Indian province of Bengal. Uddin focuses on significant moments in the region's history from medieval to modern times, examining the interplay of language, popular and scholarly religious literature, and the coloni... |
Be the first to comment.