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The Role Distribution of Wealth in Islamic Economy

Note: The content of the article is inspired by Happy Muslim Family, which is an online portal that helps married Muslims achieve happiness in their marriage.

a) The institution of a practicable method of market: –

The first object of the distribution of wealth is that it would be the way of establishing on earth a system of economy that’s natural and practicable, and which, without using any compulsion or force, enables every person to work in a standard manner according to his skill, his ability, his own choice and liking, so that his actions might be more fruitful, healthy and practical. And this can’t be procured without a healthy relationship between the employer and the worker, and with no proper utilization of this natural power of supply and demand. That’s why Islam does acknowledge these variables. A comprehensive indication of the principle is to be found in the next verse: –

The status of “proper usage” was assumed because it’s possible to generate an improper use of forces, and it’s been the case under Capitalism. Islam has struck at the very root of such an improper use and has thus eradicated the unbridled exploitation of personal property.

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b) Letting everyone to get what is rightfully due to him:-

The next thing of the Islamic system of this distribution of wealth is to allow everyone to get what’s rightfully his. However, in Islam, the concept and standards of the right is somewhat different from what it is in different systems of economy. Under materialistic financial systems, there’s only 1 method of obtaining the right to “riches”, and that’s a direct involvement in the process of manufacturing.

In other words, only those variables which have taken a direct Part in creating riches are supposed to be eligible for a share in “wealth”, and nobody else. To the contrary, the fundamental principle of Islam in this regard is that “wealth” is, in principle that the land, of Allah Himself and He alone could lay down the rules about how it is to be utilized. So according to the Islamic viewpoint, not just those who have directly engaged in the creation of wealth but those to whom Allah has made it compulsory upon others to help, would be the valid sharers in wealth. Therefore, the poor, the helpless, and the destitute – they also have a right to riches. For Allah has made it obligatory on all those manufacturers of wealth among whom wealth is in the first place distributed that they ought to pass on to them a portion of their wealth. And the Holy Quran makes it quite explicit that in doing this they wouldn’t be obliging the poor and the needy at all, but only releasing their responsibility, for the poor and the destitute are eligible for a share in prosperity as a matter of right.

The word “directly” in Quranic verses makes it apparent that involvement in the process of creation isn’t the only source of this right to “riches”, and that the destitute and the poor have as great a right to “wealth” because its major owners. Thus Islam proposes to distribute wealth in this way that all people who have taken a role in production should get the reward for their contribution to the creation of wealth, and then all those too should get their share that Allah has given a right to “riches”.

c) Eradicating the concentration of wealth:

The next object of the distribution of wealth, which Islam considers to be very important, is that prosperity, rather than becoming concentrated in a few hands, ought to be permitted to circulate in the society as broadly as possible, so that the distinction between the rich and the poor ought to be narrowed down as much as is organic and practicable. The mindset of Islam in this regard is the fact that it’s not permitted any person or group to have a monopoly over the principal sources of wealth, but has given each member of this society an equal right to derive advantage from them. Mines, forests, un-owned barren lands, fishing and hunting, wild grass, rivers, seas, spoils of war etc., these are all main sources of wealth. Depending on them, every person may use them in an Islamic fashion based on his abilities and his labour without anyone being allowed to have any type of monopoly over them.

Beyond this, wherever human intervention is needed for the creation of wealth and a person produces some type of riches by devoting his resources and labour, Islam gives due consideration to the resources and labour therefore set up, and recognizes man’s right of property in the wealth generated. Everyone will get his share in line with the labour and resources spent by him.
However, in spite of the difference among societal degrees or ranks certain injunctions are laid down so as to maintain this distinction within such limits as are necessary for the establishment of a practicable method of market, so that wealth shouldn’t become concentrated in a few hands.

Of those three objects of the distribution of wealth, the first distinguishes Islamic market from Socialism, the third from Capitalism, and the second from both at exactly the exact same time.