{"id":1216,"date":"2023-07-07T23:12:15","date_gmt":"2023-07-07T23:12:15","guid":{"rendered":"https:\/\/mudabicara.com\/en\/?p=1216"},"modified":"2023-07-07T23:12:15","modified_gmt":"2023-07-07T23:12:15","slug":"what-is-islamic-economic-system-definition-strengths-and-principles","status":"publish","type":"post","link":"https:\/\/mudabicara.com\/en\/what-is-islamic-economic-system-definition-strengths-and-principles\/","title":{"rendered":"What is Islamic Economic System? Definition, Strengths and Principles"},"content":{"rendered":"

Islamic Economic System – Many people do not really understand the order of an Islamic economic system. <\/span>Even though all the regulations really make it easier for his people to carry out activities based on the laws and regulations of Allah. <\/span>That way, the lives of all Muslims will be more blessed and orderly.<\/span><\/span><\/p>\n

<\/span>1. Definition of Islamic Economic System<\/span><\/span><\/h2>\n

The Islamic economic system is simply a rule, where its implementation is based on various sharia. <\/span>Namely Islam and always guided by the Qur’an and AL-Hadith. <\/span>This includes activities such as savings and loans, investments and various other activities.<\/span><\/span><\/p>\n

This economic system was created so that Muslims can continue to carry out economic activities properly and correctly and avoid all bad traits such as usury, tyranny, endeavor, haram, and many more. <\/span><\/span>Everything is explained and regulated in detail in the Islamic economic system.<\/span><\/span><\/p>\n

The concept of Islam in various issues such as production, distribution, accounts payable, income, and state spending is included in the Islamic Economic System as discussed in the Islamic Economic System book below.<\/span><\/span><\/p>\n

Read Also :\u00a0What is Point of Sales? Definition, Benefits, How it Works and Applications<\/a><\/strong><\/span><\/pre>\n
<\/span>1.2 Methods of Property Ownership in Islam (Al-Milkiyah)<\/span><\/span><\/h3>\n
In Islam the position of wealth is included in a very important matter. <\/span>This is evidenced by the existence of various opinions, but all of them refer to one provision, that is, in the end, all assets belong to Allah ta’ala. <\/span>Islam also provides protection to its owners.<\/span><\/span><\/p>\n
<\/span>1.2.1 Utilization<\/span><\/span><\/h4>\n
The Prophet Muhammad himself was very concerned about the use of wealth in Islam. <\/span>Because if there is redundancy or hoarding of wealth it is the same as bringing sin and will make it difficult to reckon at the end of the day. <\/span>Everything must be used properly and correctly.<\/span><\/span><\/p>\n
For example, you have a plot of land but after three years it is still sitting idle without any utilization. <\/span>This of course will cause a boss and bad consequences for the owner. <\/span>For that you should not waste time when you already have property.<\/span><\/span><\/p>\n
<\/span>1.2.2. <\/span>Exercise of Rights<\/span><\/span><\/h4>\n
Next is the fulfillment of rights meaning that every Muslim who has property is obliged to donate it to zakat in accordance with syara’ rules. <\/span>So don’t hoard it and then leave it with the intention of keeping it and enriching yourself. <\/span>This is not allowed.<\/span><\/span><\/p>\n
In the assets of the rich there are also the rights of the poor or underprivileged. <\/span>Zakat is a symbol of harmonious human relations. <\/span>That there is nothing higher or lower before Allah SWT, all are the same and only the morals are the difference.<\/span><\/span><\/p>\n
<\/span>1.2.3. <\/span>Not Harming Other Parties<\/span><\/span><\/h4>\n
As the owner of a lot of wealth, you should also not use it for useless things. <\/span>The best assets are those that are useful to others, not to bring harm. <\/span>If this happens, it’s the same as you have underestimated Allah SWT. <\/span><\/span>
\nFor that, don’t ever disappear or run away from the obligation to pay taxes for others, alms, and various other sharing activities. <\/span>This is also meant so that you are not easily affected by joy sickness or are proud of these assets and become arrogant.<\/span><\/span><\/p>\n
<\/span>1.2.4. <\/span>Legal Ownership<\/span><\/span><\/h4>\n
The next step is to fulfill legal ownership requirements. <\/span>This is so that people do not get their wealth from loot or loot. <\/span>Everything is purely due to the hard work of each. <\/span>In this way, of course, the distribution is also still useful.<\/span><\/span><\/p>\n
The Qur’an itself has prohibited all assets from being obtained by dirty or illegal methods because they can be a source of damage. <\/span>Likewise if you want to get wealth from untested ways such as bribing courts, false witnesses and other dishonorable and despicable things.<\/span><\/span><\/p>\n
<\/span>1.2.5. <\/span>Balanced Use<\/span><\/span><\/h4>\n
Finally, Islam always encourages its people to really use wealth in a balanced way. <\/span>Don’t just be one-sided or negligent in carrying out your duties and obligations such as zakat, alms and sharing with others. <\/span>Really God does not like that.<\/span><\/span><\/p>\n
Furthermore, Islam also provides various provisions for the ownership of property in Islam. <\/span>Among them are individual ownership, public property, related to the interests of many people and also need to be spent on the basis of maintaining a clean balance of assets.<\/span><\/span><\/p>\n
Read Also :\u00a0What is Workload Analysis? Definition, Benefits and Calculation Methods<\/a><\/strong><\/span><\/pre>\n
<\/span>1.3 How to Manage Ownership (At-Tasharruf Fi Al Milkiyah)<\/span><\/span><\/h3>\n
The property that is owned, of course, will not be brought to death. <\/span>For that you need to manage it properly so that the treasure becomes a blessing and does not become a burden during the reckoning process at the end of the day. <\/span>There are at least three management matters in Islam to be made the rules of its followers<\/span><\/span><\/p>\n
<\/span>1.3.1 Individual Ownership<\/span><\/span><\/h4>\n
Individual ownership or private property is where the property is legal in the name of one person. <\/span>The tendency towards pleasure is human nature itself. <\/span>Allah himself made the love of several things, namely wealth, women, children.<\/span><\/span><\/p>\n
Humans are given the freedom to get wealth in a clean way as much as possible. <\/span>It’s just that the Shari’a does limit it with various rules and prohibitions. <\/span>Each person must have different assets for that management is also different.<\/span><\/span><\/p>\n
<\/span>1.3.2 Common Ownership<\/span><\/span><\/h4>\n
In addition to individual ownership, there is also general or public property where all of its wealth has been determined to be shared property, so it’s not just for one person. <\/span>There are at least three types of public ownership that have been defined by Islamic economic rules.<\/span><\/span><\/p>\n
<\/span>1. Public facilities that have been made by the government and their use is for the community. <\/span>This public ownership aims to facilitate all the daily activities of the community such as irrigation, power generation and other energy sources.<\/span><\/span><\/p>\n
<\/span>2. <\/span><\/span>Wealth that is forbidden for individuals to own it personally. <\/span>This has been given Illegal law, which means you can’t use it for personal needs. <\/span>For example seas, bays, lakes, canals, fields, and the like<\/span><\/span><\/p>\n
<\/span>3. <\/span><\/span>Mining goods are also included in the next public facilities. <\/span>The abundant amount may not be used without permission from the relevant parties. <\/span>Legal goods may turn out to be illegal if they are not based on valid legal sources.<\/span><\/span><\/p>\n
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<\/span>1.3.3 State Ownership<\/span><\/span><\/h4>\n
Property which is the property of all Muslims can be managed by the government in accordance with the enforcement authority in that country. <\/span>Islamic Shari’a has correctly determined what the rights of Muslims are, while later they can be given more according to the agreement<\/span><\/span><\/p>\n
Public property cannot actually be given to individuals just like that, but on the contrary state property can be given but there are terms and conditions that must be completed so that later it is not misused by irresponsible elements and in the end it only becomes madarat.<\/p>\n
Read Also :\u00a0<\/strong><\/span>What is Warehouse Staff? Duties, Terms, How to Work, and Salary<\/a><\/strong><\/span><\/pre>\n
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1.4 Ways of Circulating Wealth in the Middle of Society (Tauzi’ul Tsarwah Tayna An-Naa)<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
The subject matter of this one includes issues that are very important and must be discussed seriously. <\/span>In Islam itself there are also various provisions relating to the distribution mechanism of assets in syara’ law and have been fully guaranteed by each government.<\/span><\/span><\/p>\n
That is why Islam prohibits the circulation of assets only among the rich, while they forget about the less fortunate. <\/span>This is why you are also not advised to bargain ruthlessly the small sellers who are just sitting on the side of the road . <\/span>Learn about the Islamic economic system through the book Islamic Financial System: Principles & Operations.<\/span><\/span><\/p>\n
<\/span>1.5 Mechanisms of the Islamic Economic System<\/span><\/span><\/h3>\n
The Islamic mechanism itself is an activity that is productive in nature and is only in the form of property development or tanmiyatul mal. <\/span>In various muamalah contracts, there are various ways and special provisions that must be carried out by each person involved in it.<\/span><\/span><\/p>\n
<\/span>1.5.1 Economic Mechanism<\/span><\/span><\/h4>\n
First. <\/span>Work is part of the economic system because it can open up the widest possible opportunities for the emergence of causes of individual ownership. <\/span>So don’t be lazy to work just to give space to be lazy.<\/span><\/span><\/p>\n
Second. <\/span>Investment is also part of the Islamic economic system which seeks to develop assets or tanmiyah mal. <\/span>All of this is a good and correct management and utilization in an economic cycle itself.<\/span><\/span><\/p>\n
Third. <\/span>Never dare to hoard treasures such as gold and silver. <\/span>Even though the zakat has also been paid, if it is done it will only hamper the circulation of assets and the circulation of the economic system.<\/span><\/span><\/p>\n
Fourth. <\/span>It is not recommended to do business or business trade in that area-that’s all. <\/span>Do equity equity or business expansion in other areas. <\/span>The aim is to develop a better economic system that will be felt by all layers.<\/span><\/span><\/p>\n
Fifth. <\/span>There is a prohibition against monopolistic activities or other fraud. <\/span>This can break the market price and hurt the hearts of people at the bottom. <\/span>So it’s best to avoid it or you will feel the consequences yourself later.<\/span><\/span><\/p>\n
Sixth. <\/span>The prohibition against committing unlawful acts such as gambling, usury, giving gifts for dishonorable acts such as bribery. <\/span>Treasures like this are useless and only a source of destruction.<\/span><\/span><\/p>\n
<\/span>1.5.2 Non-Economic Mechanisms<\/span><\/span><\/h4>\n
This mechanism is carried out not through productive economic activities but originates from gifts or obligations of a Muslim community such as alms, zakat, inheritance and the like. <\/span>So the circulation is of course different from the mechanism of ordinary economic wealth.<\/span><\/span><\/p>\n
The circulation of non-economic mechanisms aims to create balance in the midst of people’s lives, bearing in mind that currently there are not many people who have the same amount of wealth. <\/span>This is intended to create harmony between Muslims and their surroundings.<\/span><\/span><\/p>\n