Demand of Islam for its human beings is to fashion their lives completely in accordance by the divine principles. By these divine principles, he realms his life with freedom. Islamic basic philosophical percepts of Islamic Economics is very clear and a complete way of life. Percepts of Islamic Economics symbolizes the necessity of intense obedience to Allah and practicing Allah’s laws and percepts. Islam gives the complete definition of relationship between human being and his acquired wealth money.

From Islamic point of view man has not brought anything with him when he is born and he will not take anything from his worldly wealth when he will die. Only his good and bad deeds will go with him. Islam says that a person does not form any part and has no ownership in property and wealth he owns in world. How a human can own anything from that property which he does not even own. He cannot take his earned wealth into his grave. They will remain here. This percepts of Islamic Economics gives a clear linkage of man with his property.  Quran has given a complete key for philosophical percepts of economics, it says:

“Believe in Allah and His Messenger (Muhammad) and spend of that whereof He has made you trustees”

Verse clearly says that real and absolute power and ownership of wealth and property lies with only creator of universe Allah. Human beings represent Allah in economic percepts of world. Human being is responsible to obey and comply with Allah’s laws, rules and precepts in the realms of his economic activities. As property is concerned, the human society has got a collective responsibility. According to Islamic teachings man is responsible for giving zakat and charity from the wealth and property he owns in world. He is responsible for giving the mentioned and prescribed percentage of wealth to needy and poor from his property. Zakat is a process of purifying the wealth with serenity of teachings and religion. Charity is one of the basic philosophical percepts of Islamic economics. It prevents man from evil mentality of worshiping his money wealth and property. It centralizes and balances the property in a proper condition and way. Islam curtails and controls the freedom of earning wealth through moral ways prescribed by religion. Wealth earned through wrong deeds is strongly forbidden and forms a link with Allah’s punishment. Islam promulgates economics as civilization of one’s life. Charity and zakat is a mixture of others right and dues which Allah has made obligatory for every human being. Islam has got the most beautiful and lofty concept of labor. Wealth earned through labor and purity gives satisfaction and contentment. Islam is a simple and unique religion. It has true essence of moral values and ethics. Philosophical percepts of Islamic economics are clear and understandable by every human being. Islam does not want his people to be self centered. It wants a complete balance and centralization of wealth and property. It is a key towards earning a purified life.

About the author

Osama

I am 20 years old from Karachi, Pakistan. I am doing graduation from Karachi University. Right now, doing freelance writing for Muslim Academy.

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Being a true Muslim is the duty of every Muslim. No one can become a true Muslim just by being born as a Muslim. There are certain basic rules and lifestyles to follow for becoming a real Muslim. And to know the basics, one should get a proper Islamic Education. According to the fundamental basics of Islam there are five basic foundations that are considered to be the most important for any Muslim:

Faith

Having faith in Allah, the prophet and all that have been given to us by them is the first basic of Islam. Anyone claiming himself to be a Muslim need to have this strong faith on all these as without strong faith, no one can become a truly religious and blessed soul.

Salat, five times a day

Salat is regarded as one of the mandatory things to be accomplished by all Muslim peoples. The importance of saying Salat can’t be calculated or predicted easily. Its importance in every Muslim’s life is enormous. In Al Quran, the necessity of praying Salat had been mentioned. So it is understandable that, Muslims can get closer to the almighty Allah if they can pray Salat on time, and of course with full dedication.

Fasting in Ramadan

Fasting during the month of Ramadan is one of the most important foundations of Islam. According to the Quran and hadith, Ramadan is a very special month and holds lots of importance for the Muslim. However, the month of Ramadan has some rules and regulations for the Muslims to follow. Ramadan is the month to practice the controlled lifestyle that Allah has defined for us. The Muslims fast from sunrise to sunset and avoids all those that are prohibited as per the regulations. After a month of such controlled lifestyle, there comes the celebration of Eid and this month is also special as people are ordered to give away Zakat and fitra to the poorer population so that there is a wealth redistribution system in practice.

Hajj

Hajj is a special procedure through which the Muslims follow a few ancient traditions to obey the order of Allah and to show their respect to the religious laws. This special task is mandatory only for the rich people. During Hajj, people has to follow some very strict traditions and all these take place in the two most holy places for the Muslims, the Mecca and the Medina. These places are in fact closely related to the history of the Muslims and therefore are very special for the Muslims and the traditions that are practiced.

Zakat

Zakat has been already mentioned as an associated task in the month of Ramadan along with fasting. Zakat is a heaven decided method of wealth redistribution method for a healthier and happier society. It has been said that if Zakat is given fully by all Muslims in a proper way, then within a few years, there should not be any poor people needing that Zakat in the society.

If you look closely you will see that all these basic foundations have strong impact in our lives as Muslim and are of utmost importance for a peaceful and routine life full of Allah’s rahmat.

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