The Economic System Of Islam

The Economic System of Islam, is an English version of a lecture delivered in Urdu by Hazrat Mirza Bashir-ud-Din Mahmud Ahmad, the Second Khalifah Head of the Ahmadiyya Muslim Community to a gathering of academia in Lahore, Pakistan, in 1945. The book presents a detailed account of the teachings of Islam regarding the system of economics. It demonstrates that economic system of Islam is placed within the broader teachings of Islam, with the objective of attaining the pleasure of Allah and everlasting bliss in the Hereafter. It provides for a healthy and progressive society in which the basic needs of all are met, and incentives for achieving excellence are provided, with due regard to justice and fair play. The lecture then makes a critical evaluation of the economic aspects of Communism. It provides ample evidence that Communism has failed in its pretensions of promoting justice and equality both within its own borders and in international affairs. It brings out serious objections against Communism from a religious point of view, and cites three prophecies about the decline of Communism.

This Book Explains The Islamic View Of The Economy And Its Objective, How To Own Property And Increase It, Hoe To Spend And Dispose Of It, How To Distribute The Wealth Amongst The Citizens In Society And How To Establish A Balance Within It. It Its Credit, Has Created Amongst Muslims A Great Awareness Of The Economic System In Islam. Contents Covers- 1. Introduction To Economic System, 2. Economy, 3. Types Of Ownership- Private Ownership, 4. The First Means Of Ownership: Work (`Amal), 5. The Work Of The Employee, 6. The Second Means Of Ownership, 7. The Third Means Of Ownership, 8. The Fourth Means Of Ownership, 9. The Fifth Means Of Ownership, 10. The Way To Dispose Of Property, 11. Trading And Manufacturing, 12. The Laws Of Partnership (Companies), 13. Capitalist Companies, 14. The Prohibited Methods Of Increasing Ownership, 15. Right Of Disposal To Spend In Gifts And Maintenance, 16. Public Property (Al-Milkiyyah Al-Ammah), 17. State Property, 18. Nationalised Property Is Neither Public Nor State Property, 19. Secluding (Hima) The Public Benefits/Utilities, 20.Bfactories, 21. Bait Ul Mal (The State Treasury), 22. Distributing Wealth Among The Peoplpe, 23. Riba And Currency Exchange, 24. Money/Currencies (An-Nuqood), 25. Foreign Trade

Gain deeper insight into the principles and theory of Islamic economics Introduction to Islamic Economics: Theory and Application provides an overview of the organizing principles and fundamentals of an Islamic economy. With deep discussion of the characteristics, rationale, key institutions, objectives, and instruments at work, the book addresses the core economic principles underlying a system based on the foundational teachings of Islam, and examines the implications for economic policies. Social welfare, economic justice, market functionality, efficiency, and equity are explored from an Islamic perspective, and the role and instruments of fiscal and monetary policy in Islamic systems are used to illustrate contemporary applications. Universities around the globe are offering courses on Islamic economics and finance, but despite the industry's rapid growth, most research has been focused on the financial principles rather than underlying economic principles. The first book of its kind, Introduction to Islamic Economics brings all the key concepts together into one reference volume. By outlining the ways in which Islamic finance and Islamic economics interrelate, this book can help readers to: Develop an understanding of the Islamic economic system and its institutional scaffolding Differentiate between the major characteristics of the dominant conventional economy and one based on the fundamental sources of Islam Understand the conditions that must be met for a just, well-balanced, stable, and growing economy Clarify the role of State, public policy, and risk-sharing in the Islamic financial system The Islamic financial system is expanding quickly, and those looking to increase their relevance in a changing economic landscape must get up to speed. Introduction to Islamic Economics provides a comprehensive overview of underlying economic system offering a deeper understanding of the feature of the system. This book is an excellent complement to Introduction to Islamic Finance, 2E by Iqbal and Mirakhor.

``This is the one he wrote ````a series of notes about the Islamic economy```` consists of 11 chapters, and revolves around, Islamic Economics, What is it and what is it for? .. Further Notes on Definition and Methodology of Islamic Economics.. The Role of Values, Ethics and Culture in Economics .. Institutional Structure of the Islamic Economic System ..Economic Role of State in Islam .. The Role and Importance of the Private Sector .. The Demand Side or Consumer Behaviour Theory .. Supply Side or Producer Behaviour .. The Institution of Market .. Institutional Guidelines of Market Regulation..Allocation of output to factors of production and the implicit ``

A historical analysis of economic thought in Islamic tradition which interrogates contemporary Islamic economics as a hybrid system.

This translation of the Arabic work, Nizam al Iqtisad fil Islam by Sheikh Taqiuddin an-Nabahani is one of the only books available in English that addresses the comprehensive economic system of Islam going beyond the subjects of Islamic finance and addresses how Islam tackles the economic problem from its root.At this critical period when capitalist economic system and rules are being fostered over the Muslims globally and Muslim intellectuals are looking for salvation from the western free market model, there is a pressing need for a clear elucidation of the economic system of Islam. This unique book is an intellectual treasure in this respect being the first book this century to produce a crystal clear picture of the Islamic systemIt explain in fine detail topics such as the Islamic view of economy and its objective, the rule of lands, the need for the gold standard and how foreign trade is to be conducted. The sole sources in adopting the rules mentioned in this book are the book of Allah and the Sunnah of his Messenger (Saw) , Ijma'a As-sahabah and Qiyas.The 298 page book also produces an eloquent rebuttal of both the capitalist and socialist system, exposing their defects and contradiction with Islam.The topics covered in the book include:- Types of Ownership - The Means of Owning Property- The First Means of Ownership: Work ('Amal) - Brokerage and Commission Agency - The work of the employee - Inheritance - The Way to Dispose of Property - Increasing Wealth - The Rule of Lands - Reviving Uncultivated Land- Trading and Manufacturing - The Rules of Partnerships (Companies) - Capitalist Companies - Commercial Companies of Joint Liability (Unlimited Liability Companies) - Joint Stock Companies (Share Companies) - Co-operative Societies - Insurance - Prohibited Methods of Increasing Wealth - Public Property - State Property - The State Treasury (Bait al-Mal) - Zakat - Taxes - Distributing Wealth among the People - Riba - Currency Exchange (Sarf) - The Gold Standard - Foreign Trade

What kind of economic policy package do Islamic teachings imply? This book seeks to answer this and other related questions.

This comprehensive survey of Islamic economic thought covers the development of ideas from the early Muslim jurists to the period of the Umayyads and Abbasids. The economic concerns of the Ottomans, Safawids and Moghuls are examined, as is the profusion of more recent writing.