Weak Distribution System When a group of people monopolises...

Weak Distribution System When a group of people monopolises a great amount of wealth, while the rest of the people can hardly make both ends meet, the community becomes divided into two groups. A. The Affluent B. The Deprived This particular distribution system is found prevalent in the capitalist system today in which communities are subjugated to the rule of man-made laws. It is for the amelioration of all people that Islam makes it an obligation to distribute wealth fairly and equally.

It makes usury and monopoly forbidden, and sets rules for zakat, khums, atonements, vows to Allah, alms, etc. These taxes and payments bring in great amounts of money that are given by the rich and those who are obliged to pay them, and are distributed to the poor. Furthermore, the Islamic state opens the doors for employment to all the unemployed, and supports the needy and the disabled, the aged, orphans and the sick.

In addition to that, Islam forbids usury which is an interest taken by a creditor from the debtor as practised in banks, companies and between individuals. The ruling has been instituted so that money will not be accumulated in the pockets of some people while others remain deprived. Islam thus makes usury forbidden. Profiteering refers to hoarding articles and badly needed goods such as foodstuffs and medicines for a period of time, then selling them at staggeringly high prices.

Islam forbids this kind of monopoly so that merchants cannot play with these much needed commodities, or their prices, to amass wealth at the expense of the people. Summary The Islamic Economic System is the system which outlines how to gain wealth, invest it, spend and distribute it justly and also how to achieve financial equality among the people. The Islamic Economic System is established on the foundation of justice and providing the needs of the people to save them from poverty and need.

The main reasons for poverty are unemployment, poor consumption habits, weak distribution, hoarding commodities and cheating with prices. Islam forbids usury and monopoly and sets the rules of financial obligations so that money and wealth will not be in the hands of a few while the masses live in poverty and misery. Islam forbids extravagance, prodigality and spending money on forbidden things like drinking alcohol, dancing, singing, gambling, etc.

It preserves human wealth from corruption and loss. Allah has created the earth with ample provisions for the needs of all creatures.