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 How economics fit into Islam

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Join date : 2010-12-31

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PostSubject: How economics fit into Islam   How economics fit into Islam Icon_minitimeSat Jan 08, 2011 3:31 pm

Assalamualaikum,to all who reads my post,i would just like to share my opinion on how economics fit into Islam,their relation and my opinions on how the subject of economics really is.
Economics is about how we use the resources that we have to fulfill our needs(by goods and services).Many people have the thought that economics is purely secularist in nature,due to extensive use of empirical,and statistical data(graphs,tables,nominals and so forth),but i do not believe in this perception.When we say economics,the first thing that popped into our mind is money and business.It is true but it doesn't stop there.In Islam,there is issues of distribution of wealth,use of resources,trade,use of currency,selling and buying.Economics is not secularist in nature but it fulfills and solve the issues above.How it is viewed as secularist in nature is because the misuse of economics.For example,let say the recent government Economics Transformation Program(there are 7 major projects,and some are to promote growth in the 'nightlife' in Malaysia to attract more foreigners into the country),in terms of wealth and investment,it sounds good,but in terms of social cost,and aftermath is absolutely unacceptable.So is the subject of economy to be blame?or the government?
We can always progress without risking much social cost but it depends on the project and economics planning.The same thing with a computer,it is not bad in nature,but depends on the one who uses it.When I study economics,i sometimes can see its relation towards Islam.An example,its link towards Allah s.w.t absolute wisdom.I read a book on the issue of distribution of wealth once.In most poor countries,the gap between the poor and the rich is enormous.In Islam one of its pillar is zakat.So why is it so important? it reduces the problem above,by transferring some of wealth of the rich to the poor to reduce this gap.I cant help to think how Islam is so perfect to solve this problems,it reminds me of the absolute wisdom of Allah and that he knows every affair,from the biggest to the smallest.The subject of economics existed in the Quran long before human being discover it,it is a knowledge given by Allah s.w.t to us to fulfill our responsibilities in certain areas.

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Join date : 2010-12-22

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PostSubject: thank you and   How economics fit into Islam Icon_minitimeWed Jan 12, 2011 7:25 pm

what you have said is very intresting indeed. economy is not secular by nature...thus must not be monopolized by conventional system.

can you do some research at tell us what is the diference between bayt al mal and national bank?


thank you

was salm
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