Thursday, January 28, 2016

Islamic economic system: from principles to microeconomics and macroeconomics fields (11)

c. Principle of Moderation
The authors note:
Islam unequivocally discourages its followers to cross the limits and follows extremes.
The Muslims have been called by the Qur’an a middle nation (2:143).
Therefore, the principle of moderation carries paramount importance especially in the economic field.
This principle is followed by the true believers in the production of wealth as well as in the consumption and spending of wealth.
Although earning of wealth through permitted (halal) means is allowed.
Yet the piety demands that a Muslim should not become mad after amassing wealth like a greedy materialist.
He should exercise restraint and earn wealth to meet his lawful needs.
Extra wealth, if at all is earned by him somehow, may be spent in the path of Allah:
ü on charity;
ü and relief of the poor.

Used from paper of  Abdul Ghafar Ismail and  Noraziah Che Arshad

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