Learn about the means of distribution of wealth in Islamic societies and how they promote economic equality and social welfare. Discover the significance of Zakat, Waqf, inheritance laws, and ethical business practices in shaping Islamic wealth distribution.
Islam adopts a moderate path which can help establishment of a just and equitable system. It gives unlimited liberty and unlimited right of private property individual in the field of production nor does it bind him to an artificial system of economic equality under which he may not ear and own health with freedom. The guiding principle of this system is that there should be more and more production and distribution of wealth so that the increased circulation of wealth might leads to its equitable division among the different sections of the community and not to its concentration in fewer hands.
The Holy Quran has explained the golden rule of Islam in Sura. “Al Hashr” in these words:
“whatever God restored to his messanger from the people of the towns. It is for God and for the messanger – in order that it may not make a circuit between the wealthy among you.”
This verse states the principle that governs the distribution of wealth in the Islamic system of life that wealth should be distributed among all the sections of the community and that it should “not become a commodity between the rich among them.”
Means of Distribution of Wealth in Islamic Societies.
In order to achieve the ideal of economic justice in society Islam presents a very high ideal to the individual so that he may not fall to the low level of economic animal. “Where his living is to eat” where stomach is the beginning and the end of all economic activity; but should feel that his eating is for living but living is for much nobler is ideals.
In order to achieve its objective of just and equitable distribution of wealth in the community Islam prescribes the following measures.
Legal Measures
l.Law of inheritance:
I he law of inheritance plays a significant role in lessening the inequalities in the division of inheritance in the community. The Muslim law of inheritance is a very powerful and effective measure both in checking accumulation of wealth in fewer hands and in spreading it out among the large section of the community. Its usefulness and importance has been recognized even by the great opponents of Islam. According to the Muslim law of inheritance, the property of the deceased is divided among many of his relatives. If a man dies without any near relative his property is taken away by the state in order that all the citizen may equally benefit from it.
The law of inheritance seems to have for reaching effects It does not leave wealth to accumulate in the hands of a few capitalist but helps in increasing its circulation among the largest number of people. This law, in fact, uproots the very basis of capitalist system in a few generations by distribution the wealth of the deceased among dozens and scores of his near and distant relatives and poor neighbours.
Zakat:
Zakat is the second legal measure adopted by the state to spread out wealth among the people. It is a compulsory levy which is collected form the rich Muslims and spent on the poor. It is an organized charity which is collected and distributed through the state. The Holy Quran has laid great emphasis on its payment. When the Muslims are asked to say their prayers regularly they are also enjoined to pay Zakat.
Prohibitive Measures
Prohibition of interest: *
The Holy Quran has condemned and forbidden interest in the following words:
“O you. who believed, devour not interest doubling and redoubling and keep your duty to God: that you may be successful.”
Interest develops miserliness, selfishness, callousness in humanity and financial greed in the character of man. It derives a wedge between nations. It serves the ties of sympathy and fraternal cooperation between individual within a nation, it blocks the free circulation of wealth in the society. It is also an undesirable fact that usury negates every part of the system which Islam presents for the moral training cultured reconstruction and economic organization of humanity. It deforms the entire Islamic system. That is why Allah has strictly prohibited usury in the severest terms.
Prohibition of Hoarding of Wealth
In order to remedy the evils that flow from the hoarding of wealth. Islam has forbidden its accumulation in this manner. The Holy Quran condemns the hoarding of wealth in these words.
“And let not those who hoard up that which God hath bestowed upon them of his bounty think that it is better for them. Nay. it is worse for the. That which they hoard will soon be tied to their neck, like a twisted collar, on the Day of judgement.”
A hoarder of wealth will not onl> lose the spiritual bliss in the hereafter but w ill also be deprived of the benefits of his wealth in this world as it will not earn profit. Besides, he will also have a shart in the misery and suffering of the community which decays and ’ perishes for lack of adequate funds to maintain itself.
Wasteful Expenditure:
Islam has prohibited all wasteful and unnecessary expenditure on superfluities which encourage rich people to indulge in luxuries. This unhealthy practice is condemned in the following words.
“Bue squander not wastefully. Surely the squanderers are the devils’s brothers. And t e devil is ever ungrateful to his Lord.’”
In short Islam has closed all those outlets thiough which the greater portion of a man’s wealth i . spent on his luxuries and indulgence.
- Unhealthy Business:
All type of unhealthy business which are likely to create and increase inequalities of wealth in the community are prohibited in Islam. The most important and most harmfull forms of business are speculation, hoarding, black marketing, profiteering and private monopoly in goods are services which are essential id beneficial to the people.
Optional Measures
Optional Charity:
In order to achieve its ideal of economic justice. Islam demands from all its followers to spend their wealth freely on the common goods of society. This claim on the wealth of the Muslim, it emphasizes, is not fully met by the payment of Zakat True and real Anfaq is over and above Zakat and is very strong oh gat ion on the wealthy members of the Muslim community. Unless a Muslim fulfils this moral obligation due to society he cannot be sure that he has won the pleasure of God.
Charity of Surplus:
The most important and most effective of the moral obligations on the Muslim, enjoined by the Holy Quran for spreading out the National wealth among the masses is the principal of Anfaq. Il requires of people to spend what they can spare out of their wealth merclv for seeking the pleasure of God. The principal of Anfaq is stated in Sura Al-Baqara in these words.
“And they ask thee as to what they should spend.
Say: what you can spend. Thus does God make clear to you the messages that you may ponder.”
I’he word al-Afw means that wealth which is over and above one’s necessary expenses; what is left over after meeting one’s needs; what one can spare after meeting his family’s needs. It therefore demands of people to spend all that they can spare over and above their lawfull requirements for the common good of society. They are required to earn wealth by hard and honest means for the satisfaction of their wants and then to give away what is left over their wants and then to give away what is left over for meeting the needs of the poor and the needy in the community.
Conception of Anfq is very wide and is inclusive of all kinds of service to the community from the surplus wealth of the rich. How could the Holy Prophet tolerate that surplus wealth should be kept blocked and unused by the wealth when he commanded his followers not to block surplus water from the fields for it would check the growth of the vegetables.
fhe Holy Quran has in different ways emphasized the importance of giving away one’s surplus wealth for the benefit of other people, fhe right of poor and the needy is one’s wealth is stressed in these words;
“And in their wealth there was a due share for the beggars and for the needy.”
Thus Islam, bv encouraging charity and discouraging miserliness in the communitv. Stimulates circulation of money and thereby investment activities of the people in the community and keeps the economic system in perfect equilibrium