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 CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS

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0939098



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Join date : 2010-12-30

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PostSubject: CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS   CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS Icon_minitimeTue Jan 04, 2011 12:31 am

[justify]Islam is a complete way of life for the human being. Everything is covered in Islam from birth to death to live in the complete submission to the Will of the One Who Created man in the first place. Quran and Sunnah are the best resources that answer all questions that related to the whole world.

Islam also covers issue that related to business and economics. The Islamic principle in business basically based on benefiting the humanity while maintaining God’s orders. Islam is not against business to make profit. This is because a firm would not be in apposition to fulfill its social obligations without it (profit). Although Islamic economic system allows private ownership of resources and profit maximization, there is no good or services can be produced that can harm the society. Hence, this concept meets the criteria of maslahah (public interest) which can be define as juristic device used in Islamic legal theory to promote the public good and prevent social evil or corruption. Its plural is masalih, means “welfare, interest, or benefit.”.

Products and services that can bring harm to community, even if wanted by society, will not be produced under the Islamic economic system. For example, alcohol, drugs, cigarettes and etc.

This refers to Hadith Prophet Muhammad (s.a.w):

"When God prohibits a thing He prohibits (giving and receiving) the price of it as well."

(Ahmad and Abu Daud)

Islamic economic system also against the trading that related to goods which are normally used for committing sin is haram. Examples of such things are swine, intoxicants, and other prohibited, idols, crosses, statues, and the like.

The Prophet (s.a.w) said:

"Surely, Allah and His Messenger have prohibited the sale of wine, the flesh of dead animals, swine and idols."

(Al-Bukhari and Muslim)

Based on the example above we can conclude that all products and services that are prohibited by shariah, even if wanted by society or can bring high in profit, it will not be produced under Islamic economics system. We also as Muslim need to remember that we are given responsibilities or amanah by Allah to utilize all the resources given by him wisely. All our deeds in this world will be accountable in hereafter. This following verse explains the notion of accountability:

“And fear the Day you shall be brought back to God’ then shall every soul be paid what it earned, and none will be dealt with unjustly.” (2:281)

Thus, all acts that have been done here will accountable to god and his success in the hereafter depend on his performance in this life of earth.



Last edited by 0939098 on Thu Jan 06, 2011 5:52 pm; edited 1 time in total
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hafidznasir90



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Join date : 2010-12-29

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PostSubject: The concept of islamic transaction   CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS Icon_minitimeWed Jan 05, 2011 2:42 am

As we know all the business and transaction today have a lot of ambiguity and confusion which make us don't really understand the real concept of transaction that really follow the shariah. It's because the concept of islamic transaction had been misused by western to get more profit and benefit on one behalf (usually the seller) , this concept make the transaction become contrary to the principle of justice that made by Islamic law. Only one person will get benefit of one transaction while the other party maybe suffers loss. It clearly can be seen in ordinary sale nowadays where a buyer sell something ,let say the sale of iphone by claiming at the time of sale he is selling at the cost price which actually a LIE. For many people who don't understand the concept of islamic transaction will claim that it's a valid sale, but actually it's not. It's just a tactic to make more benefit to the seller and it's contradict to what Islam had taught us. This matter is quite confusing even sometimes the seller also didn't know their transaction isn't valid but voidable (which means the buyer has the option whether to pursue with the contract or not) ,this kind of problem makes the transaction and business nowadays not a "holy"
place to do transaction. As a muslim we need to find the way to solve this matter ,to make people realize that what islam had prepared for us is the best among the rest.

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ungs2040
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PostSubject: Re: CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS   CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS Icon_minitimeFri Jan 28, 2011 8:54 pm

salam, i agree that nowadays, there are many business that we dont know whether it's lawful or unlawful in islam. for example, i want to highlight on mlm (multilevel marketing). in this world of modern age, the business now mainly based on mlm. basically, mlm is something about lower position people work for higher position people. this is like pyramid system. the lower people will then find other people to put below them and this will continue and continue. of course, to join this mlm business, they must pay some money which can be considered ad 'lot' if we lost it. for me, i dont think business like this will give benefits to all people who join it. from experience by my friend, there are many of them who engaged in this business lost their money. maybe they will get some profit in the beginning, but this kind of business will not last long. so, to the people who are in higher position will not loss anything but to the people who are new, they have tandency to lost their money that they invested. so, i think it's better if we try to find other business that is proven halal in islam rather than get into business that we dont know the money we get from it is halal or haram. tq. Sleep
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0936052



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Join date : 2010-12-28

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PostSubject: 0936052   CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS Icon_minitimeWed Feb 09, 2011 5:03 pm

sorry to interrupt.. but i've a big question in my mind.. is there any company using MLM but didn't against the shariah rules and guidance?? because sometimes we have some doubt when it is related to the halal industry.. for example, HPA.. during my study in an assignment about halal industry, i've visited HPA website.. it stated that HPA are doing business by using MLM that are guided by shariah.. they also claimed that MLM HPA fulfill all the requirements that have been set by shariah panelists.. most of these panelist are lecturers from various university and some of them still pursue their study in master and PhD in University Al-Azhar, Baghdad and UK.. there is also a few company that are commonly link to MLM for instance Saham Amanah Malaysia and a few Takaful's product.. so, is there really have MLM that follows the shariah? anyone who have knowledge about this kind of business please feel free to share ur opinion.. confused
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PostSubject: Re: CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS   CONCEPT OF MASLAHAH IN ISLAMIC ECONOMICS Icon_minitime

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