Open AccessECONOMIC REFORMATION OF THE PROPHET (PBUH): PERSPECTIVE MEDINA
Author(s) -
Abdullah Al Mamun,
Humayra Waliullah
Publication year - 2021
Publication title -
malaysian journal for islamic studies
Language(s) - English
Resource type - Journals
ISSN - 2550-2042
DOI - 10.37231/mjis.2021.5.1.142
Subject(s) - capitalism , islam , usury , legislation , law , face (sociological concept) , islamic economics , law and economics , political science , economy , economics , sociology , history , social science , archaeology , politics
In the year 13th after Nubuwah, migrating from Mecca to Medina with companions being ordained by Allah (SWT), the Prophet Muhammad (Pbuh) found Medina on very imbalanced economical condition for many causes. So after very beginning of establishing the Islamic State of Medina, the Prophet Muhammad (Pbuh) had to face a farm challenge to overcome this situation and reform all the economic spans from top to bottom. In this paper we would like to analytically discuss the causes behind those problems and circumstances, such as: Economic aspect of Medina, Misuses and Capitalism of the Jews. And the processes of their solving and reformation taken by the Prophet (Pbuh) such as: Legislation of Zakat, Emphasizing on Charity, Prohibition of Riba, Market Control, Pre-foundation of Bait-al-Maal, Revenue and Taxes, War after property Management, Rules of Heritage, Postponement of Conventional Business Processes in Ayaam al-Jahiliyah, Permitted Investment law and prohibition from begging etc. And thus the World noticed the unique model of the Prophet (Pbuh) for solving economic problems of all the ages and eras.