Economic System in Islam: Sources of wealth: Fulfilling Engagements

Economic System in Islam: Sources of wealth: Fulfilling Engagements

Sources of wealth in Islam are defined in the Qur'an and Hadith. Man is totally responsible for the way he chooses to exploit his wealth.

These sources are:

A. Natural sources.

B. Exchange of commodities.

C. Work for a salary.

D. Inheritance.

E. Wealth given or shared by Muslims.

God provides

According to the Qur'an, everything is provided by God. God has created mankind and He has provided them with their means of subsistence:

And the earth We have spread out; set thereon mountains and produced therein all kinds of things in due balance and proportion. And We have had provided therein means of subsistence: for you and for whose sustenance you are not responsible.' 15: 19-20

Is it they who would portion out the Mercy of your Lord? It is We who portion out between them their livelihood in the life of this world.' 43: 32

Employment

Employment in Islam is part of the socio-economic structure:

And We raise some of them above others in ranks, so that some may employ others for work. But the Mercy of your Lord is better than the wealth they amass.' 43: 32

The conditions of employment are well specified in the Tradition. The Qur'an specifies conditions of employment in the following example of Moses:

Said one of the (girls): "O father, engage him on wages: truly the best of men for you to employ is the man who is strong and trustworthy."' 28: 26

Moses was proposed the following contract:

He said: "I intend to wed of these my daughters to you, on condition that you serve me for eight years; but if you complete ten years, it will be (grace) from you. But I do not intend to place you under a difficulty. And you will find me, God willing, one of the righteous."' 28: 27

Moses agreed to the conditions of his contract:

He (Moses) said: "Be that (agreement) between me and you: Whichever of the two terms I fulfil let there be no ill-will to me. And God is a witness to what we say."' 28: 28

Moses has fulfilled the terms before he was charged with the divine Message:

Then when Moses had fulfilled the term, and was travelling with his house folk, he saw in the distance a fire.' 28: 29

Muslims are commanded to fulfil their contracts:

And fulfil (every) engagement, for (every) engagement will be enquired into (on the Day of Judgement).' 17: 35

Any engagement, whether commercial or non-commercial, must be fulfilled by Muslims, as part of the Muslims' covenant with God, since God becomes the Witness for the engagement or contract.

Economic System in Islam: Sources of wealth: Fulfilling Engagements

By: mardini

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