Islam and socio-economic justice
The Shari’ah has laid down certain principles and limits for the economic activity so that the entire framework of production, trade and distribution of wealth may conform to the Islamic standard of justice and equity.
According to the Islamic perspective, God has created for mankind the earth and all its resources. It is, therefore, the legacy of every human being to try to secure his share of this world’s wealth. The role of humankind is no more than that of caretakers. This concept of dual ownership between human being and God is one of the special features of the Islamic economic system. While, the personal right to own is protected and endorsed by Islam, the Shari’ah tempers human ownership by the understanding that everything belongs to God. What appears to be ownership is in fact a matter of trusteeship, whereby man has temporary authority to handle and benefit from goods.
In addition, Islam aims at striking a balance between the individual and the community. In fact, the Islamic framework has adopted a fair approach which promotes individual freedom and at the same time ensures that such freedom is positively contributing to the welfare of the community as a whole. Accordingly, the individual has freedom of enterprise and competition within an atmosphere of morality, fairness and social harmony and where participants should be just and kind to one another. Islam does not restrict economic activity but instead directs it toward being responsible to other people, to the earth, and to Allah.
Besides, there is great emphasis in Islam on social and economic justice. This justice is possible only when all sections of society can fulfil their economic needs. Therefore, even people who are unable to take part in the economic competition and those who need help to get started in it should have their chances to exist as well. The goals of socio-economic justice and equitable distribution of income and wealth are integral parts of the moral philosophy of Islam. The poor and the needy are entitled to a share of the society’s wealth. Thus, Zakat has central importance in Islamic society. Everybody is permitted to accumulate wealth that is left over after meeting one’s legitimate and reasonable commitments and after giving a percentage of one's income to charity. Another major tool for achieving socio-economic justice is the prohibition of Riba to avoid any unfair advantage in exchange dealings between parties.
According to the Islamic perspective, God has created for mankind the earth and all its resources. It is, therefore, the legacy of every human being to try to secure his share of this world’s wealth. The role of humankind is no more than that of caretakers. This concept of dual ownership between human being and God is one of the special features of the Islamic economic system. While, the personal right to own is protected and endorsed by Islam, the Shari’ah tempers human ownership by the understanding that everything belongs to God. What appears to be ownership is in fact a matter of trusteeship, whereby man has temporary authority to handle and benefit from goods.
In addition, Islam aims at striking a balance between the individual and the community. In fact, the Islamic framework has adopted a fair approach which promotes individual freedom and at the same time ensures that such freedom is positively contributing to the welfare of the community as a whole. Accordingly, the individual has freedom of enterprise and competition within an atmosphere of morality, fairness and social harmony and where participants should be just and kind to one another. Islam does not restrict economic activity but instead directs it toward being responsible to other people, to the earth, and to Allah.
Besides, there is great emphasis in Islam on social and economic justice. This justice is possible only when all sections of society can fulfil their economic needs. Therefore, even people who are unable to take part in the economic competition and those who need help to get started in it should have their chances to exist as well. The goals of socio-economic justice and equitable distribution of income and wealth are integral parts of the moral philosophy of Islam. The poor and the needy are entitled to a share of the society’s wealth. Thus, Zakat has central importance in Islamic society. Everybody is permitted to accumulate wealth that is left over after meeting one’s legitimate and reasonable commitments and after giving a percentage of one's income to charity. Another major tool for achieving socio-economic justice is the prohibition of Riba to avoid any unfair advantage in exchange dealings between parties.
