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Overview

Cars. Industry etc.  Private Property ◦ Home. . Steel industry  Public Property ◦ Energy. State Property ◦ Arms industry. Rivers. Transport etc.

is taken by State and redistributed. A citizen can take any amount of land which is not owned by anyone in order to fence it and start its cultivation Loans available from bayt-al-Mal   . Uncultivated land for over 3 years.

Ushr Emergency Tax ◦ Limited duration only   State Business Public Business (Public property) ◦ Reinvested in expansion  . Khiraj. Jizya. Revenue: Zakat.

are all haram and will be abolished.Khilafah . Capitalism -Taxes on common man . Income Tax.93% (Rs 840 Billion) of revenue of Pakistan comes from taxes on the people as per the budget 2006-2007 figures. Al-Kharaj b. . Al-Jizya c.No taxes on common man .Tax on income 63. -There will be following permanent sources of revenues in an Islamic State: a. The fifth of Al-Rikaz (hidden treasures / minerals. Al-Ushr d. Withholding tax.Tax on Savings GST Tax. toll tax etc.

Revenue spent according to needs of area and not based on its productivity.  . Generated revenue goes in different accounts.

States economy is not effected by fall in value of foreign currency.    Backed by Gold/Silver Not based on FIAT model. Does not loose value over time. .

No alternatives to batil /Fasiq methods People will: ◦ Take money out and invest ◦ Keep money in homes ◦ Keep money in Financial Institutes .   Interest not allowed.

Lucky draws. Interest ◦ Banking. Loans.  Gambling ◦ Commercial gambling. stock exchange. . Prize bonds. Result ◦ Investment in real economy.

Freedom of ownership   . Man is not viewed merely as a unity of economic value Capitalist view man as unit of economic value Capitialism: ◦ Freedom of Capital.

Technology. Books etc. cannot be copyrighted. ◦ Attract scientists from around the world. Seller cannot restrict ownership of product sold. Khilafah will reduce its cost.  ◦ Expensive medicine today.  Flow of knowledge cannot be restricted. .  Trademarks allowed.