SUMMARY
THE QURA'NIC ECONOMIC SYSTEM
2:268
v Allah [SWT] has allowed Satan to operate in this world in so far as misguiding the humans is concerned. Following Allah [SWT] or Satan decides that you wish to join the camp of those who are destined to enjoy Allah’s eternal bounties or those that live in fear of poverty even if they possess abundant wealth. Poverty over here is all inclusive and covers all its shades and shapes. It is entirely one’s own choice with absolute free will that one chooses the path one wants to walk.
v Coaxing and alluring humans to unseemly conduct [FAWAHASH] on the grounds of threatening poverty is an established way and teaching of Satan that for sure leads to further poverty. Societies following the path of unseemly conduct in today’s world are a proof of this viewpoint. Ever increasing numbers of illegitimate children and unguided thought process is threatening the very fiber of such societies in particular and the rest of the world in general. Fighting against FAWAHASH is therefore necessary for the well being of humanity.
v To shun FAWAHASH does make you eligible for forgiveness and reward from Allah [SWT] and you will certainly get out of the clutches of poverty of all forms. This is not merely a slogan but a well proved aspect of the lives of good people and good societies. Arab society before Islam and soon after Islam can be cited as a perfect example of this key point.
v Caring and knowing leadership that ensures environments where resorting to unseemly conduct becomes inappropriate, leads to poverty alleviation. This again is not a mere theory but a proven stand point in the history of nations.
3:112
v Rejecting the Signs of Allah [SWT], killing His prophets or the humans inviting to good, rebelling against His order and transgressing the bounds laid down by Him is surely going to earn you poverty.
v A person living in Peace from Allah [SWT] and in peace with self and the fellow humans earns prosperity. Each ingredient of this recipe is a perfect formula of avoiding poverty. Humans have only to give it a try individually and collectively for their interest.
v Obeying Allah [SWT] in all aspects of life particularly with reference to the rightful duties towards other humans helps eradicating poverty.
v Following a democratic dispensation wherein masses have a consistent, constant and continuous control in its true sense will help reducing poverty from the masses. Numerous societies and nations in history and in today’s world can be cited to prove this view point.
7:94-97
v Poverty teaches humbleness that leads to prosperity. Positive aspect of poverty is that people learn humility. Unassuming nature and attitude prepares humans to be inclined to listen to and act on what a prophet or a guide preaches.
v Belief in Allah [SWT] and always fearing His disobedience when translated in to a way of life by the masses take humans out of the clutches of poverty.
v Rejection of truth coupled with misdeeds makes humans feel secure against the coming of bad days. This behaviour amounts to asking for and inviting the anger of Allah [SWT] that comes around when one is unable to do something to avoid the same.
9:28
v Knowing and wise leadership is well equipped to take people out of poverty.
v Opting for unclean things in your life because of the fear of poverty must be resisted as it drags you away from the highway of prosperity.
9:117
v Attitude of kindness and mercy on the part of the have ones and the leadership can eradicate poverty from the society.
v Helping each other in times of distress is a sure way leading to poverty alleviation.
v Turning to Allah [SWT] at all times and in all matters of life and living is the sure recipe of prosperity.
12:88
v Charity is the surest way of countering poverty.
v Earnest effort put in with full dedication by all is a prelude to all other aspects dealing with poverty reduction.
v Use of even scanty capital with clean mind and full conviction can help getting out of the woods of poverty.
21:76
v Allah [SWT] delivers from distresses those who turn to Him praying with complete devotion and commitment.
v One must include his family while praying to Allah Almighty for His deliverance from distresses
24:32
v Allah [SWT] is the ultimate authority to take people out of poverty. Hence dedicated obedience to Him is the surest way leading to prosperity of all shades and forms.
v Institution of marriage serves as stimulant to acquire Allah’s grace. Marrying the virtuous poor ones with the matching have ones is a formula that can help eradicating poverty from the globe.
Spending or Giving (Anfaq)
2:254
v Spending or giving is out of that that has been given by Allah [SWT].
v Spending or giving in this world will become a means of salvation in the life hereafter.
v Those who do not spend or give in this world join the club of wrongdoers [Zalimoon] and would be treated as those who reject faith [Kafiroon].
2:261
v Spending grows to seven hundred times and even more in case it is done as per the desire of Allah [SWT].
v Allah [SWT] is aware of His all creation and He cares for all of them. By resorting to spending in the way of Allah [SWT] you must not even imagine that you are replacing for His responsibilities.
17:100
v Control of all treasures is with Allah [SWT].
v Man by nature is niggardly. One must not have fear of any kind while engaged in spending as desired by Allah [SWT].
63:9-11
v Worldly commitments, family affairs or business activities, must not restrict you from spending from that that has been granted to you by Allah [SWT].
v Delay in spending puts you in the category of losers (KHASIROON) and those who resort to spending are termed as doers of good (SAALIHEEN).
v There is no respite to any soul from the appointed time of death. Death is surer than life. One should not delay spending expecting delay in ones death.
v Spending should be in the matters of charity and for good deeds alongside your other worldly commitments.
64:14-17
v Spending should be based on listening, fearing and obeying Allah [SWT].
v In spending one should look for benefit of own soul.
v Spending helps achieving prosperity in this world and in the life hereafter.
30:38-40
v Spending or giving by way of Riba as against charity does not result in increase.
v Spending should be for increased recompense and one such way advocated by Allah [SWT] is through the acts of charity.
v It is not desirable to look for increase in your spending through the property of other people.
57:7
v Belief in Allah and His Messenger is a prerequisite for the spending that earns great rewards.
v It must be remembered that whatever we have is granted to us by Allah [SWT].
57:10-11
v We spend out of that that has been given to us by Allah [SWT].
v Spending must be in the scenario of belief in Allah [SWT] and His Messenger. Such spending is bound to have great rewards from Him.
v Not spending in the cause of Allah [SWT], when one knows that what all one possesses is from Him, seems to be foolishness.
16:75
v Not spending is being slavish.
v Spending privately (for individuals) and publicly (for institutions) is the desire of Allah [SWT] from all those who consider themselves only His servants.
16:90
v Spending must aim at liberality to kith and kin.
v Spending should be for justice and doing well.
v No spending in deeds of shame, injustice and rebellion.
24:37-39
v No amount of worldly commitments must distract you from remembering Allah [SWT] and performing deeds of charity.
v Spending must be accompanied by the fear of Allah [SWT].
2:219
v Allah [SWT] desires of us to consider what is mentioned in this verse. This is evident from the last sentence of above verse. Whatever one has over and above one’s needs has to be spent as desired by Allah [SWT]. This is a binding order. In other words whatever one retains from one’s earnings should only suffice his or her needs. Actually the portion of earnings allowed by Allah [SWT] to be kept with oneself is also going to be spent in due course of time to meet the needs. Hence it can be concluded that in Qura’nic Economic System there is no concept of individual hoarding beyond one’s needs. Extent of needs and one’s means of income would determine the quantum of earnings to be retained to satisfy the needs and the portion to be spent (in the cause of Allah). The length of time that one has to consider for meeting one’s needs would depend on the pattern of ones income and the degree of reposing trust [TAWAKKAL] in Allah [SWT].
v In above verse the quantity or amount required for your needs has been left to your estimation. You may spend any amount (short of your income) to meet your needs. You are; however, required to ensure that your needs do not exceed your income; rather you spare something for others in need or for the projects aimed at common good of humanity.
v You may undertake spending of your additional resources or extra earning yourselves or hand it over to the government for doing the needful. In case you rightly considered that the government is not likely to undertake these spending in a just and fair manner you have the option to do it yourself. Placing your savings at the disposal of unjust/cruel government would amount to becoming part of the unjust/cruel system, which is not desirable by any sane individual.
2:215; 273 and 4:36-39
v Following are the categories of individuals (mentioned in above verses) who must be the recipients of your spending:
a. Parents.
b. Kindred.
c. Orphans.
d. The needy.
e. The wayfarers.
f. Those people who due to their commitments in the cause of Allah [SWT] are not in a position to earn their livelihood.
g. Neighbours in need.
h. Those who are your responsibility in addition to your kith and kin’s.
v The priority of spending beginning with parents and followed by kindred is to ensure the respect and dignity of humans in need.
v Those who are on the giving end are reminded that Allah [SWT] is aware of their spending. This is to ensure that they do not forget the mannerism of spending outlined in verses 262-264 of Al-Baqarah.
v Spending for those in need must not make you arrogant and boastful.
Points for Contemplation
v Following is the mannerism of spending outlined in verses 262-264 & 274 of Al-Baqarah; verse 67 of Al-Furqan and verses 14-21 of Al-Lail:-
a. Giving to the needy ones should be like giving gifts to those who are very special to you. One feels pleasure, honoured and elevated in case one’s gift is accepted. This should be the spirit when you spend in the cause of Allah [SWT] from your earnings that are in excess of your needs.
b. Never follow up your spending with reminders of your generosity or aiming at injuring the feelings of those who accepted your gifts.
c. Those who spend as desired by Allah [SWT] will have their rewards with Allah [SWT] and they will not have any fear or grief either of future or concerning past. They should not even expect any reward from the ones who have received their spending. Their reward is with Allah [SWT]. Please note that value of a reward is directly proportional to the status enjoyed by the giver of the award. And who can even think of having a status equal to Almighty Allah?
d. Using kind words to and for those who are likely to receive your earning which is in excess of your needs is a desire of Almighty Allah. In fact it has been termed better than that spending that is followed by taunts and injuries. In case you are not in a position to meet someone’s needs then use of kind words is a better option.
e. Having spent on needy one you are required to cover his or her fault. One who is in need of your charity has been described in a state of fault. It is a concealed warning to the needy ones to strive to get out of this state of affairs. In Qura'nic Economic System every individual is supposed to be working and functioning as a productive unit. Conceptually there is no room for idles or redundant humans in Islamic society.
f. Talking about your generosity and/ or injuring others feelings by doing so, one is actually canceling the charity as far as its goodness and rewards from Allah Almighty are concerned.
g. It is good to spend in the cause of Allah [SWT] publicly but it is better to give alms to the poor in private. Helping the needy individuals should be done discretely and the institutions of public good publicly.
h. Spending should be balanced. One should neither be spending so much that one day he or she gets in to a position of begging nor should keep everything to self.
i. Spending should be for the sake of Allah [SWT] seeking self purification but no reward from those who have been the recipient of your spending.
v Parables described in verses 264-265 Al-Baqarah have following lessons:-
- Those who spend for ostentation and without having belief in Allah [SWT] and the Last Day have been termed as a hard barren rock with a little soil. They will not be able to gain anything from the rain of blessings of Almighty Allah. They will rather lose whatever little good they had.
b. Those who spend to please Allah [SWT] and to strengthen their souls will always be the best beneficiary.
c. Our spending can never go waste as Allah [SWT] sees well whatever we do.
v Those (especially from the ones looking after religious places) who bury gold and silver are to face grievous penalty.
v It is one of the signs of hypocrites that they resort to hoarding instead of spending. Such people have been declared to have forgotten Allah [SWT] and in turn He also declares to have forgotten them.
BALANCE, WEIGHTS AND MEASURES
11:84-85
v It is prohibited to give short measures or weights and it is ordered to give just measures and weights. It is further mentioned not to withhold from the people the things that are their due. Repeating the same point from three different angles in these two verses is to emphasize the importance of this aspect in human life.
v Closely following Allah’s worship is the instruction pertaining weights and measures. This again highlights the weightage Allah Almighty attaches with this aspect of human life.
v Instructions regarding weights and measures are addressed to the nation and are to be treated as collective assignment. There is no room to overlook these thinking that these are individual responsibilities. These hold the key to all good or prosperity of all types in the life of a nation.
v Those who do not follow the instructions given in these verses are to be treated as evildoers that commit mischief in the land [Mufsideen] who are to face the most severe punishment in the next world also.
11:116-117
v People of balanced good sense must take on the responsibility of prohibiting individuals from indulging in mischief in the earth. This act of theirs would ensure safety of the entire community.
v Persistence in wrong-doing [Zulm] and sin and there being no effort to make amends is the cause of whole nations and towns being wiped out.
15:19-22
v Balance prevails in the earth and indeed in the universe. It must not be disturbed and so it must be seen in all economic related activities.
v Treasures of all human needs are available in this universe. Our Creator has placed a mechanism in action whereby required quantity of all our needs is made available by Him. We only have to look and work for this and ensure judicious utilization.
17:35-39
v Importance of giving full measures and correct weights is once again emphasized as an executive order.
v One should be honest in dealings with others to the extent that your feelings should also be sincere and simple.
v Insolence in human attitude and behaviour is an unwanted and undesired act. It only earns you disrespect and non cooperation from fellow humans.
55:9
v System of correct weights and full measures must be established in all walks of life of the society. It is not to be left to the good sense of the members of economic community. This will help ensuring balance in the entire society that is a prelude to respectful and honourable living.
PROPERTY, WEALTH AND GOODS
2:155-157
v Loss of any nature in this life is a test and must be faced with firmness and total dedication to Allah Almighty. Trials and tests in this world must lead us to continue guarding against evil because that will be the decisive factor for real success on the Day of Judgment.
2:177
v In addition to the basics of Faith, spending your wealth as per Allah’s desire out of His love, fulfilling the contracts concluded with others, and remaining patient & firm in bad times are the means to righteousness [Taqwa].
2:188
v One must exercise extra cares in matters connected with making use of own property or wealth. Bribing the authorities eying at other’s property or wealth is strictly prohibited.
2:245-247
v Loans given to others in this life in accordance with the desire of Allah Almighty will be repaid by Him doubled and multiplied many a times in this world and also in the life hereafter.
v In a democratic system, that is an alternate to the one promulgated by Allah Almighty, which aims at well being of masses the ones who have to exercise authority should not be possessed with the love of abundant wealth.
v Knowledge and physical fitness should be the deciding factors when considering someone to lead troops.
2:261-282
v Spending in Allah’s Way should be from the best of your possessions and in the best way prescribed by Him. It will earn seven hundred times reward in addition to His friendship.
v The contracts involving future transactions and the commercial contracts, whether these are small or big, must be reduced to writing and witnesses sought. The scribe of the contract and the witnesses must be protected against any harm especially the female witnesses.
v No riba. Trade and usury are two completely different things. Trade is allowed by Allah [SWT] while usury is not.
v Demands of usury to be given up and the loans settled according to the formula of not wronging and not being wronged. This formula has the inherent strength and capacity to become the foundation of transition from usury based economy to the Qura’nic Economic System in today’s paper currency environments.
3:10-12 and 3:116-117
v Faith in Allah [SWT] is more precious than worldly possessions. Those who reject faith in Him are the ultimate and real looser. Their possessions and their spending will avail them only hell fire.
3:185-186
v Life must be viewed for success or failure in totality i.e. up to the Day of Judgment when final settlement of our accounts will take place.
v Believers must be prepared to face all odds from those professing belief in Books other than the Qur’an and those who worship many gods. Patient perseverance in these matters and guarding against evil will be the deciding factor in all affairs.
4:1-2
v All humans are created essentially from a single Person and we all owe our life to Allah [SWT].
v Orphans property must be restored to them without any damage to it.
v Respect of mother and the relations emanating from mother (brothers and sisters) must form the basis of our daily interaction in life.
4:5-10; 17:34
v Property left behind by parents and the near relations must be divided as per rules laid down by Allah. Those weak of understanding should not be handed over their property but looked after well. Orphan’s property must be well looked after and managed till they are able of taking charge themselves.
v A utilization of one’s property and wealth is to pay dower and gifts to lead a chaste life. Dowry once fixed can be altered (upwards or downwards) with mutual agreement.
4:29-40
v Do not be niggardly and do not hide the bounties of Allah [SWT] bestowed on you. Life is bigger than the means of living. Do not kill yourself on account of trade and property matters.
v Traffic and trade of property has to be through mutual good will and not based on any ill will and injustice. Do not yearn for what has been given to some in abundance.
v Men and women do own their earnings but must keep asking Allah [SWT] of His bounty. Shares in property left by parents and the near relations must benefit everyone as entitled by Him.
v Disdain most heinous things to qualify for exemption from all ill. Do good to parents, kinsfolk, orphans, those in need, neighbours who are near neighbours and who are strangers, the companion by your side, the way farer (you meet) and what your right hands possess. It will earn you doubled and more reward from Allah [SWT].
v Men are the protectors and maintainers of women. Women are to demonstrate loyalty, good conduct and obedience. Men must ensure that the women are dealt with wisely and firmly.
4:94-96
v Striving and fighting in the cause of Allah [SWT] with goods and persons makes you eligible for higher status and special reward including Forgiveness and Mercy in comparison to those who sit back without any effort and hurt.
4:161
v Wronging others in money or other matters amounts to rejecting Faith and earning eligibility for grievous punishment.
6:152
v Orphan’s property may be looked after for its improvement (only) till he attains the age of full strength.
v Justice must be the guiding rules in all matters of inter person nature.
v Wealth and progeny are a trial in this world for the highest rewards in the life to come.
v Spending wealth to hinder people from the path of Allah [SWT] is synonymous to unbelief that will result in regrets and sighs and ultimate entry to Hell.
8:72
v Using property and/or wealth to fight in the cause of Allah [SWT] will earn you friendship and protectors.
9:20-22
v Employing your goods (in addition to your person) for the furtherance of Allah’s cause earns you the highest ranks in His sight along with salvation and His Mercy besides His good pleasure and the Gardens with enduring delights.
v Considering wealth, relatives and other possessions dearer than Allah [SWT], His Messenger [PBUH] and the striving in His cause will earn you the title of defiant.
v Wealth must remain in circulation and the best is to strive and struggle with your goods and persons.
v Possessions of others must not be eyed in any way. Good things and wealth should be acquired through striving and fighting with wealth and person and not through idle talk alone.
9:103
v Alms giving paves way of prayers that bring security. Government can levy taxes to ensure purity, sanctification and security.
9:111-112
v Striving with person and spending wealth in the cause of Allah [SWT] (including for defense purposes) is a universal teaching and must not be ignored. It is termed as the supreme achievement. 9:111
v Some of the qualities of those that are to engage in striving with their persons and their possessions and the parameters of their activities qualifying for Allah’s glad tidings are:- 9:112
a. Turning to Allah [SWT] in Repentance.
b. Serving and Praising Allah [SWT].
c. Wandering in devotion to the cause of Allah [SWT].
d. Bowing down and prostrating in prayers.
e. Enjoining good and forbidding evil.
f. Observing the limits set by Allah [SWT].
10:88-89
v Using wealth to mislead people from the path of Allah [SWT] is the way of Pharaoh.
v It is the wealthy ignorant who look for status in wealth instead of Faith.
11:84-95
v People are free to use their property only within the guidelines given by Allah [SWT]. Giving just measures and weights, not withholding from the people what is their due and not committing evil in the land leading to mischief are some of the key to prosperity. Have ones must not become obstinate on learning that they are using their wealth and property in violation of the guidelines given by their creator. In case they do so and commit to evil they will earn the Penalty of humiliation.
17:6-7
v Increase in resources and manpower is a transitory phase on which depends the reward phase owing to your good or bad deeds.
17:34
v Wealth or property belonging to orphans can only be utilized to improve it and this engagement is subject to enquiry by Allah [SWT] like any other engagement.
17:61-70
v Wealth is one of the tools of Satan to distract humans from the path of Allah [SWT]. Humans must strive to earn wealth but at the same time seek Allah’s Mercy. Trade by sea and by employing land transport earns honours.
18:32-46
v Utilization of land to obtain a number of crops simultaneously coupled with abundant use of water will earn honour and power. Possessing wealth makes one vulnerable to rough handling unless accompanied with extra care in obeying commands of Allah [SWT].
19:77-80 & 23:53-56
v Grant of wealth is from Allah [SWT] and linked with learning from His Signs. In case the wealth and children lead to rejecting His Signs, getting divided in to sects and not learning to get out of the state of ignorance it will add and add to their punishment.
24:33
v Financial standing precedes marriage.
26:88-89
v On the Day of Judgment wealth and children will avail nothing as compared to a sound heart.
27:36
v Abundant wealth is not undesirable but has little value when in the hands of nonbelievers as compared to the one with a believer.
30:39
v Usury and alms giving for the sake of Allah [SWT] are two opposing things and it is the later that gets reimbursed multiplied.
33:25-27
v Fighting against the furious Unbelievers and their allies from the people of the Book is rewarded by Allah [SWT] by making the Believers heirs of their houses, goods and lands.
33:25-27
v Fighting against the furious Unbelievers and their allies from the people of the Book is rewarded by Allah [SWT] by making the Believers heirs of their houses, goods and lands.
47:36-38
v In this life of play and amusement Allah [SWT] invites humans to spend in His way that will guarantee their honourable existence in this world.
48:11
v Earnest economic activities can be considered at par with fighting in the cause of Allah.
49:15
v Striving with possessions and persons in the Cause of Allah [SWT] takes you to the ranks of believers (Muminun) and truthful (Sadiqun).
51:15-19
v Those who spend wealth meeting the rights of needy earn for themselves the title of the Righteous [Mohsineen].
57:20
v Life of this world with all its beauties and pleasures is short lived. It must not deceive you as against the eternal life of Hereafter.
58:17
v Possessions and following in this world against Allah [SWT] can avail only Hell Fire.
59:7-10
v Wealth must not circulate only amongst the have ones in a society. The Qura’nic Economic System provides for and encourages circulation of wealth in the entire society to build a prosperous society.
v Giving preference to others over own needs avoiding avarice of own souls is a way to take home well being of all types. This formula though difficult to practice is the surest way to have an affluent society.
61:11; 63:9 & 64:15
v Riches of this world are a trial and these must not divert you from remembrance of Allah [SWT], believing in Him and His Messenger and striving in His Cause.
68:10-16
v A wealthy person not heeding to the Signs of Allah must not be listened to as he is worst than a beast
69:25-36
v Wealth and power without belief in Allah [SWT] and not making use of the same for helping the poverty- stricken would only earn burning in the Blazing Fire.
70:8-25
v A wealthy person who does not make use of the wealth as desired by Allah [SWT] rather behaves in a stingy manner, would desire deliverance on the Day of Judgment at the cost of his near and dear ones and all that is there on this earth but to no avail.
71:9-14)
v Rain river system properly harnessed to have gardens and allied agriculture produce is a means to acquiring wealth. All this coupled with obedience to Allah’s prophet will earn more.
71:21-24
v Going further astray is the lot of those who follow the wealthy ones disobeying Allah’s prophet. Such people devise tremendous plots to follow the self created gods.
74:11-17
v Disobedience of Allah’s Signs will earn tremendous catastrophe to the one granted abundant resources, having smooth and comfortable living but given to greed for more and more in life.
89:16-23
v Undue love of wealth, eating up inheritance with greed, not encouraging one another to feed the poor and not honouring the orphan will only earn Hell.
90:4-18
v Wealth can be a tool to earn salvation if spent as desired by Allah [SWT].
92:1-21
v The path to Paradise emanates from the avenue of giving in charity and the path to Misery follows the route of being greedy miser considering ones person as self-sufficient. Wealth will not profit in hereafter those who give the lie to Truth and turn their back from spending in pursuit of self-purification without any favours or rewards in return.
104:1-4; 111:1-2
v Wealth and all other gains piled up in this life and not utilized as desired by Allah [SWT] will earn you death, destruction and hell fire.
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