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Fundamentals of Islamic Economic System Prepared By Abid Kilyani
Output/Resource ( قوت ) Outcome ( مقصد ) Work ( كام ) Mission of Islam ( اسلام كا نصب العين ) Human Welfare انسانيت كى فلاح Spiritual Power جانى جهاد Economic Power ما لى جهاد Piety نفس كا جهاد Unity اجتمائى جهاد   Prayer صلاة Charity زكاة و انفاق Fasting روزه Hajj حج Social System معاشرتى نظام Economic System معاشى نظام   Political System سياسى نظام Spiritual System روحانى نظام
Devine Economic Plan Malik 2 وَهُوَ الَّذِي جَعَلَكُمْ خَلاَئِفَ الأَرْضِ وَرَفَعَ بَعْضَكُمْ فَوْقَ بَعْضٍ دَرَجَاتٍ  لِّيَبْلُوَكُمْ فِي مَا آتَاكُمْ   And Allah has made you successors in the land and raised some of you above others in different levels, to test you for what is given to you. (Araf 165) فَإِذَا مَسَّ الْإِنسَانَ ضُرٌّ دَعَانَا ثُمَّ إِذَا خَوَّلْنَاهُ نِعْمَةً مِّنَّا قَالَ إِنَّمَا أُوتِيتُهُ عَلَى عِلْمٍ  بَلْ هِيَ فِتْنَةٌ  وَلَكِنَّ أَكْثَرَهُمْ لَا يَعْلَمُونَ   When a man gets in trouble he cries for help of Allah, and when he is granted favors, he says “I have got it due to my knowledge”. In fact wealth is a trial but most of people do not know. (Zumr 49) Not related to efforts Zumr 49 Wealth is a test Anam 165/Nahal 71 وَاللّهُ فَضَّلَ بَعْضَكُمْ عَلَى بَعْضٍ فِي الْرِّزْقِ   And Allah has made some of you excel others in wealth. (Nahal 71)
Definition of Islamic Economics ,[object Object],[object Object]
The Objectives of Islamic Economics ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Basic principles of Islamic Economics ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Sources of Islamic Economics ,[object Object],[object Object],[object Object],[object Object],[object Object]
1 The Holy Quran ,[object Object],[object Object],[object Object]
2 The Hadith and Sunnah  ,[object Object],[object Object],[object Object]
Cont`d… ,[object Object],[object Object]
3 IJTEHAD ,[object Object],[object Object],[object Object]
Cont`d… ,[object Object],[object Object],[object Object]
3a IJMA ,[object Object],[object Object]
3b Qiyas ,[object Object]
SALIENT FEATURES ,[object Object],[object Object],[object Object],[object Object],[object Object]
SALIENT FEATURES ,[object Object],[object Object],[object Object],[object Object],[object Object]
Allah is the Sustainer  ,[object Object],[object Object],[object Object]
Allah is the Sustainer  ,[object Object],[object Object],Verses of the Qur’an:
Allah is the Sustainer  ,[object Object]
Allah is the Sustainer  ,[object Object],[object Object],Verses of the Qur’an:
Allah is the Sustainer  ,[object Object],Ahadith of Muhammad (PBUH) :
Allah is the Sustainer  ,[object Object],[object Object],Ahadith of Muhammad (PBUH) :
Allah is the Sustainer  ,[object Object],[object Object],Ahadith of Muhammad (PBUH) :
[object Object],[object Object]
[object Object]
[object Object]
God is Real Owner of Everything and Man is merely a Trustee ,[object Object],[object Object],[object Object]
God is Real Owner of Everything and Man is merely a Trustee ,[object Object],[object Object],[object Object]
[object Object],[object Object]
Everything Created for Service and Use of Man ,[object Object],[object Object]
Concept of Halal and Haram ,[object Object],[object Object]
Haram ,[object Object],[object Object],[object Object],[object Object],[object Object]
Haram ,[object Object],[object Object],[object Object],[object Object],[object Object]
Haram ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object]
[object Object],[object Object]
Equity and not Equality ,[object Object],[object Object],[object Object]
Equity and not Equality ,[object Object],[object Object]
Equity and not Equality ,[object Object],[object Object]
Difference between Islamic Economic and Western Economics ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Money Labor +  Capital (Entrepreneurship) Land Middlemen Machine Partnership  (Labor + Capital) Status of Sources of Income Ideal Permitted Restricted Prohibited Medium of Exchange
[object Object]

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Islamiceconomicfinal1

  • 1. Fundamentals of Islamic Economic System Prepared By Abid Kilyani
  • 2. Output/Resource ( قوت ) Outcome ( مقصد ) Work ( كام ) Mission of Islam ( اسلام كا نصب العين ) Human Welfare انسانيت كى فلاح Spiritual Power جانى جهاد Economic Power ما لى جهاد Piety نفس كا جهاد Unity اجتمائى جهاد Prayer صلاة Charity زكاة و انفاق Fasting روزه Hajj حج Social System معاشرتى نظام Economic System معاشى نظام Political System سياسى نظام Spiritual System روحانى نظام
  • 3. Devine Economic Plan Malik 2 وَهُوَ الَّذِي جَعَلَكُمْ خَلاَئِفَ الأَرْضِ وَرَفَعَ بَعْضَكُمْ فَوْقَ بَعْضٍ دَرَجَاتٍ لِّيَبْلُوَكُمْ فِي مَا آتَاكُمْ And Allah has made you successors in the land and raised some of you above others in different levels, to test you for what is given to you. (Araf 165) فَإِذَا مَسَّ الْإِنسَانَ ضُرٌّ دَعَانَا ثُمَّ إِذَا خَوَّلْنَاهُ نِعْمَةً مِّنَّا قَالَ إِنَّمَا أُوتِيتُهُ عَلَى عِلْمٍ بَلْ هِيَ فِتْنَةٌ وَلَكِنَّ أَكْثَرَهُمْ لَا يَعْلَمُونَ When a man gets in trouble he cries for help of Allah, and when he is granted favors, he says “I have got it due to my knowledge”. In fact wealth is a trial but most of people do not know. (Zumr 49) Not related to efforts Zumr 49 Wealth is a test Anam 165/Nahal 71 وَاللّهُ فَضَّلَ بَعْضَكُمْ عَلَى بَعْضٍ فِي الْرِّزْقِ And Allah has made some of you excel others in wealth. (Nahal 71)
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  • 42. Money Labor + Capital (Entrepreneurship) Land Middlemen Machine Partnership (Labor + Capital) Status of Sources of Income Ideal Permitted Restricted Prohibited Medium of Exchange
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Editor's Notes

  1. Redistribution of wealth
  2. Allah provides livelihood and subsistence to all of His creatures in the universe.
  3.   Ahadith of Prophet Muhammad (PBUH): 1.      Abu Hurairah reported that the messenger of Allah said: Verily Allah is pure. He does not accept but what is pure …..Then he mentioned about a man disheveled in hair and laden with dust, making his journey long and extending his hands towards heaven: O Lord! O Lord! while his food was unlawful, his drink unlawful, his dress unlawful and he was nourished with unlawful things. How he can be responded for that? (Muslim) 2.       Abu Masud Al Ansari reported that the messenger of Allah forbade the price of dogs, earnings of prostitute and foretelling of a soothsayer. (Bukhari,Muslim) 3.       Jabir reported that the messenger of Allah cursed the devourer of usury, its payer, its scribe, and its two witnesses. And he said that they are equal (in sins) (Muslim) 4.       Abdullah-bin-Amr reported that the messenger of Allah cursed the bribe taker and the bribe giver. (Abu Daud) 5.       Jabir reported that the messenger of Allah…..forbade the sale of wine, dead animals, pigs and idols……. (Bukhari,Muslim) 6.   Abdullah-bin-Amr reported that the messenger of Allah prohibited intoxicants, games of chance, card-playing and Gobairah and he said: Every intoxicant is unlawful.     (Abu Daud)
  4. reward and does not try to eliminate them, because no two individuals have been blessed with hundred percent equal mental and physical abilities.