Open AccessENGLISH-THE CONCEPT AND SCOPE OF OWNERSHIP IN ISLAMIC STATE
Author(s) -
Muhammad Ishaq,
Aziz ur Rehman Saifee,
Mushtaqullah Hashmi
Publication year - 2020
Publication title -
de iskālar
Language(s) - English
Resource type - Journals
eISSN - 2617-4308
pISSN - 2413-7480
DOI - 10.29370/siarj/issue11ar5
Subject(s) - islam , capitalism , scope (computer science) , state (computer science) , public ownership , business , common ownership , set (abstract data type) , market economy , law and economics , political economy , law , economics , political science , politics , history , archaeology , algorithm , computer science , programming language
In Capitalism a Person has full authority of Ownership over one’s wealth. One can spend one’s wealth in whatever and whenever one likes. Due to this false impression a person considers it one’s right to spend one’s wealth even in illegal activities. In this regard, Islam has a totally different concept as compared to capitalism. Islam recognizes the ownership of a person over one’s wealth. But some restrictions are set forth on the ownership, so that use of the ownership of wealth right must not incur the wrath of Allah and should not cause sufferings to people. So, Islam has a system of the right of ownership and its use, The system delineates very clearly that having the right of ownership of wealth does not permits the owner to spend the wealth on unlawful and forbidden activities as they may cause sufferings to the neighbors and other people.