Author: Taqiuddin an-Nabhani
Publisher: Milli Publications
Year: 2002
Language: English
Pages: 298
ISBN/UPC (if available): 8187856033
Description
This book is a precious intellectual Islamic fortune, rarely matched. It explains the Islamic view of the economy and its objective, how to own property and increase it, how to spend and dispose of it, how to distribute the wealth amongst the citizens and how to establish a balance within it.
Today, the Islamic Ummah is lacking in thought, so it is naturally deprived of the productive way of thinking. The present generation did not receive from its preceding generation any ideas, be they Islamic or non-Islamic and naturally; it did not receive a productive way of thinking. Nor did it attain by itself any thoughts or a productive way of thinking. As a result, it is natural for this generation to be seen in poverty, despite the abundance of material resources in its lands.
Likewise, it is natural to have no scientific discoveries and inventions even though it studies the theories of these discoveries and inventions and is aware of them. This is because it is impossible to rush to gain them in a productive way, unless it possesses a productive way of thinking i.e. unless it has thoughts and it is creative in using their thoughts in life. Therefore, it is inevitable for the Muslims to establish for themselves thoughts and a productive way of thinking. Thereafter, they will not proceed a single step; rather they will continue to go around in a vicious circle, exhausting their mental and physical efforts, only to end up exactly where they began.
The tendency of this generation towards the Capitalist ideas went far beyond just reconciling Islam with Capitalist laws and solutions. It has now reached such an extent that there is a feeling of Islam being incapable of solving contemporary problems of life, and there is an urge to take Western laws as they are, without even reconciling them with Islam. The Ummah came to see no harm in giving up Islamic rules and adopting others, in order to progress with the civilized world, and catch up with the Capitalist and Socialist nations, considering them as progressed peoples. As for those who adhere to Islam, they still try to reconcile them with Islam. However, those who try to reconcile Islam with other thoughts have no influence in life, nor do they have any presence in society, i.e. in the actual relationships that go on between the people.
Therefore, the delivery of the Islamic thoughts and rules which solve problems of life, collides with minds empty of thoughts and a way of thinking. Instead it clashes with inclinations, from all the people towards the Capitalist and Socialist thoughts, and with the way of life currently governed by Capitalism. So unless the given thought is strong enough to cause a shake-up in the hearts and minds, it will be impossible to move the people, nor even attract their attention to it. This thought has to push the dull shallow minds to think deeply, and it has to shake off the deviated inclinations and the sick tastes, so as to establish the sound inclination towards the Islamic thoughts and rulers.
Contents
CHAPTER 1
INTRODUCTION TO ECONOMIC SYSTEM
The Capitalist Economic System
The Economic System versus Economic Science
The Socialist Economic System
CHAPTER 2
ECONOMY
The Basic of the Economic System
The View of Islam towards the Economy
Economic Policy in Islam
The General Economic Principles
CHAPTER 3
TYPES OF OWNERSHIP --- PRIVATE OWNERSHIP
Definition of Private Ownership
The Meaning of Ownership
The Means of Owning Property
CHAPTER 4
THE FIRST MEANS OF OWNERSHIP: WORK (‘AMAL)
Cultivation of Barren Land: (Ihya al-Mawat)
Extracting that which exists inside the earth
Hunting
Brokerage and Commission Agency (Samsara and Dalala)
Mudharaba
Share Cropping (Musaqat)
Hiring/ Employing an Employee (Worker)
CHAPTER 5
THE WORK OF THE EMPLOYEE (WORKER)
Definition of the Work
The Type of Work
Duration of the Work
Wage for Work
The Effort Spent in the Work
The Ruling Regarding Hiring over Prohibited Benefits
The Rule of Hiring Non-Muslims
Hiring someone to perform Worships and Public Services
Who is the Employee?
The Basic upon which the Assessment of the Wage is established
Estimating the Employee’s Wage
CHAPTER 6
THE SECOND MEANS OF OWNERSHIP
Inheritance
CHAPTER 7
THE THIRD MEANS OF OWNERSHIP
The Need for Property for Sustenance
CHAPTER 8
THE FOURTH MEANS OF OWNERSHIP
That which the State gives of its Properties to the Citizens
CHAPTER 9
THE FIFTH MEANS OF OWNERSHIP
The Property obtained by Individuals
Without exchanging Labor or Money
CHAPTER 10
THE WAY TO DISPOSE OF PROPERTY
Right of Disposal
Increasing Property (Investment of Property)
The Rules of lands
Cultivation of Barren Lands
Disposal of Land
Preventing the Leasing of Land
CHAPTER 11
TRADING AND MANUFACTURING
Trade
Manufacturing
CHAPTER 12
THE LAWS OF PARTNERSHIP (Companies)
The Company (Partnership) in Islam
The Company of Equal (Al-Inan)
The Companies of Bodies (Al-Abdan)
The Company of Body and Capital (Mudharaba)
The Company of Reputation/ face (Wujooh)
Company of Negotiation (Mufawadha)
Dissolving the Company
CHAPTER 13
CAPITALIST COMPANIES
Commercial Company of Joint Liability (Unlimited Liability Company)
Joint-Stock Company (Share Companies)
Shares of the Share Stock Company
Co-operative Societies
Insurance (Ta’meen)
CHAPTER 14
The Prohibited Methods of Increasing Ownership
Gambling
Interest/Usury (Riba)
Criminal Fraud
Deceit in Trade
Monopoly
Price-Fixing (Tas’eer)
CHAPTER 15
RIGHT OF DISPOSAL TO SPEND IN GIFTS AND MAINTENANCE
Poverty (Al-Faqr)
CHAPTER 16
PUBLIC PROPERTY (AL-MILKIYYAH AL-AMMAH)
CHAPTER 17
STATE PROPERTY
CHAPTER 18
NATIONALISED PROPERTY IS NEITHER PUBLIC NOR STATE PROPERTY
CHAPTER 19
SECLUDING (HIMA)
THE PUBLIC BENEFITS/ UTILITIES
CHAPTER 20
FACTORIES
CHAPTER 21
BAIT UL MAL (THE STATE TREASURY)
Revenues of Bait ul-Mal
The Expenditures of Bait ul-Mal
The State Budget
Zakat
The Head Tax (Jizya)
The land Tax (Kharai)
Taxes
CHAPTER 22
DISTRIBUTING WEALTH AMONG THE PEOPLE
Economic Equilibrium in Society
The Prohibition of Hoarding Gold and Silver
CHAPTER 23
RIBA AND CURRENCY EXCHANGE (SARF)
Riba (Interest/ Usury)
Currency Exchange (Sarf)
Exchange Transactions
CHAPTER 24
MONEY/ CURRENCIES (AN-NUQOOD)
The Gold Standard
Benefits of the Gold Standard
Problems facing the Gold Standard
The Silver Standard
Metallic Money
Paper Money
Issuing of Currency
Exchange Rate of Currencies
CHAPTER 25
FOREIGN TRADE
The Reality of Foreign Trade
Balance of Trade
Currency/ Monetary Relation Between Countries
Foreign Trade Policy
Free Trade
Protectionism
National Economy
Policy of Self-Sufficiency