Economic System of Islam

Islam views life as a compact whole and does not divide it into many separate and conflicting parts. The economic aspect is one of the most important parts of our life, while not being the whole of it. The Islamic system is balanced and places everything in its right place. Islam has given detailed regulations for the conduct of our economic life which concerns mainly the earning and use of wealth. Man needs bread to live but he does not live for bread alone. This means that earning and spending money is essential for our living, but we do not live only for this. We have a greater purpose in life. We are Allahs agents (Khalifah) on earth. We not only have a body but we also have a soul and a conscience. Without our soul and conscience, we would be considered little more than animals. Everything in Islam is for the benefit and welfare of mankind. The economic principle of Islam aim at establishing a just society wherein everyone will behave responsibly and honestly, and not as cunning foxes fighting for as big a share of something as possible without regard for honesty, truth, decency, trust and responsibility.

REFERENCE FROM RESPECTED HOLY BOOK (QURAN)

Islam strikes at the root of the evil and wants to establish a just and fair society. A Muslim must earn his living in Halal ways and he should always bear in mind that whatever he does, it is known to Allah. He will be accountable for his actions on the Day of Judgment. He cannot hide anything from Almighty Allah. Unlawful expenditure is also not allowed in Islam. It does not at all befit a Muslim to spend money irresponsibly. His actions should be responsible and meaningful. Extravagance and waste are strongly discouraged (7:31, 17:26, and 19:27-31, 25:68) Islam allows a person to own his earnings. The Islamic state does not interfere with the freedom of speech, work and earnings of an individual provided this freedom is not harmful to the greater good of society. Every individual will be answerable to Allah swt for his or her actions (4:7, 36:71, 16:111).

Social Life in Islam

Family Life in Islam
FAMILY life is the basis of the Islamic society. Its origin goes back to the beginning of the creation of man and women-- Adam and Eve. So, its an institution founded by Allah's will. Allah says in the Quran: "Omankind, be mindful of your duty to your Lord who created you from a singlesoul and from it created its mate and from the two created many men and women."(Qur'an 4:1) Marriage develops love, care and co-operation between the husband and wife. It gives peace of mind and provides a secure atmosphere for the growth and progress of the whole human race. Without marriage, the human race would come to a standstill. Marriage was the practice of most of the prophets including Muhammad (pbuh).

Equality of Men and Woman in Islam, and their complementary nature to one another
In one sense, equality between men and women is possible and reasonable because they are both human, with similar souls, brains, hearts, lungs, limbs, etc. In another sense, equality between men and women is impossible and an absurdity due to their natural differences in physical, mental, emotional and psychological qualities, inclinations and abilities. Between these two we must tread to illuminate how they are equal, and how they are complimentary. If total equality between all members of the same gender is impossible due to natural differences in strengths and other qualities, regardless of whether the gender is masculine or feminine, then it is definitely impossible between the two genders. Allah, the Exalted and Almighty, says in the Glorious Qur'an:

(And of everything we have created pairs, that you may remember (the Grace of Allah).)

[51:49]

Equality in Basic Humanity

Both the male and the female are equal in terms of their humanity. Islam does not categorize women, for instance, as the source of evil in the world for some & original sin that caused Adam (Peace be Upon Him) to be dismissed from Paradise, or to be the cause of evil in the world by setting loose a Pandora's box of vices, as some other religious doctrines and fables teach. Allah, the Exalted and Almighty, states in the Glorious Qur'an:

(O mankind! Be dutiful to your Lord, Who created you from a single person (Adam), and from him (Adam) He created his wife (Eve), and from them both He created many men and women...)

NAME: HAMMAD EJAZ KHAN

DAY: MONDAY (EVENING)

TIME: 18:00 TO 21:00

SUBMITTED TO: YOUSUF IBNUL HASSAN