Our Economy

econWHO was it who said that men are economic animals?

Muslims are never ‘animals’ even in their striving to attain a financial profitable livelihood! In fact, the following are some characteristics of the Islamic economy.

First, it begins with faith in the Oneness of Allah and that there is nothing worthy of worship except Allah, the Creator and Sustainer of the
universe. He gave humankind a code of life that guarantees their wellbeing in this world and in the life hereafter.

It is also the characteristics of the Islamic economy that it upholds cooperation – instead of focusing on competition all the time. Human beings cannot live independent of each other. They have to live together and cooperate for the maximization of welfare and warding off evils.

A member of the Islamic society is one with the goal of earning the pleasure of Allah through right actions and service to his fellow human beings. Good intentions and right action thrive when they receive a positive response from others. Ultimately, competition in good deeds results in benefits to all concerned.

As well, generosity and benevolence must prevail in the society. Lust for money, and miserliness is condemned in all cases. In the society, there
must not be monopoly, exploitation, fraud or ususious transactions. Good should be enjoined and evil should be forbidden. The state has an active role to play in economic life. It should intervene if freedom is abused or people are not fulfilling their obligations.

Islamia/The Brunei Times
Fri, 21 Feb 2014

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