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The Economic System of Islam

The Economic System of Islam

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Published by girasol1234
The Economic System of Islam

The Economic System of Islam

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Published by: girasol1234 on May 17, 2011
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05/18/2011

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The EconomicSystem of Islam
Taqiuddin an-NabhaniHizb ut-Tahrir
Fourth edition1410/1418 A.H. (1990/1997 CE)
 Al-Khilafah PublicationsSuite 29856 Gloucester RoadLondon SW7 4UB
e-mail:info@khilafah.com website:http://www.khilafah.com
 
 Translation ofthe Qur’an
It should be perfectly clear that the Qur’an is only authentic in its originallanguage,Arabic.Since perfect translation ofthe Qur’an is impossible,wehave used the translation ofthe meaning ofthe Qur’anthroughout the book,as the result is only a crude meaning ofthe Arabic text.Qur’anic
 Ayat 
and transliterated words have been
italicised.
 Ahadith appear in
bold
- subhanahu wa ta’ala
- sallallahu ‘alaihi wa sallamra - radhi allaho anha/anho AH - After HijrahCE - Christian EraPrinted by De-Luxe Printers
 Al-Khilafah PublicationsSuite 29856 Gloucester RoadLondon SW7 4UB
e-mail:info@khilafah.com website:http://www.khilafah.com1421 AH / 2000 CEISBN 1 899574 093
 
Contents
 The Opening Ayah
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3-51Introduction to Economic System . . . . . . . . . . . . . . . . .11
 The Capitalist Economic System . . . . . . . . . . . . . . . . . . . . . .14 The Economic System versus Economic Science . . . . . . . . .22 The Socialist Economic System . . . . . . . . . . . . . . . . . . . . . . .33
2Economy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46
 The Basis ofthe Economic System . . . . . . . . . . . . . . . . . . . .47 The View ofIslam towards the Economy . . . . . . . . . . . . . . .48Economic Policy in Islam . . . . . . . . . . . . . . . . . . . . . . . . . . . .51 The General Economic Principles . . . . . . . . . . . . . . . . . . . . .61
3Types ofOwnership - Private Ownership . . . . . . . . . . .65
Definition ofPrivate Ownership . . . . . . . . . . . . . . . . . . . . . .66 The Meaning ofOwnership . . . . . . . . . . . . . . . . . . . . . . . . . .67 The Means ofOwning Property . . . . . . . . . . . . . . . . . . . . . .68
4The First Means ofOwnership:Work (‘Amal) . . . . . . .71
Cultivation ofBarren Land:(Ihya al-Mawat) . . . . . . . . . . . . .71Extracting that which exists inside the earth . . . . . . . . . . . . .72Hunting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .73Brokerage and Commission Agency (Samsara and Dalala) . .74Mudharaba . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .75Share Cropping (Musaqat) . . . . . . . . . . . . . . . . . . . . . . . . . . .76Hiring/Employing an Employee (Worker) . . . . . . . . . . . . . . .77
5The Work ofthe Employee (Worker) . . . . . . . . . . . . . . .79
Definition ofthe Work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .79 The Type ofWork . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .80
“But seek the abode ofthe Hereafter in that which Allah has given you, and do not neglect your  portion ofworldly life, and be kind even as Allahas been kind to you, and seek not corruption in the earth. Verily, Allah likes not the Musfsidun (those who are mischief-makers, corrupted).” 
[Al-Qasas:77]

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