The Holy Quran, like a radiant lamp, serves as a guide for humanity in all aspects of life. This divine scripture, with profound and wise expressions, delineates the principles of Islamic economics and, by emphasising the just distribution of wealth, combating accumulation and domination, and reviving devotional values such as Khums and Zakat, offers an elevated paradigm for organising economic and social life. In this treatise, relying on the luminous verses of the Holy Quran and scholarly analyses, concepts such as economic deviation in early Islam, distribution versus concentration, poverty and domination, and the role of Khums and Zakat in realising economic justice are examined. The objective of this work is to provide a comprehensive and profound perspective on Islamic economics that attends not only to the material distribution of wealth but also to the cultivation of human dignity and liberation from domination and monopolisation. This text, with a structured format and eloquent language, seeks to clearly reflect the message of the Holy Quran in this domain.
In early Islam, economic and social deviation, referred to as apostasy, stemmed from a lack of general knowledge. This deviation was not tantamount to disbelief or impurity, but rather indicated misguidance in lifestyle and economic resource management. The Holy Quran explicitly declares Gods absolute ownership over existence and condemns any deviation from this principle.
لِلَّهِ مُلْكُ السَّمَاوَاتِ وَالْأَرْضِ وَمَا بَيْنَهُمَا يَخْلُقُ مَا يَشَاءُ
To God belongs the dominion of the heavens and the earth and whatever is between them; He creates what He wills.
This verse elucidates Gods ownership over all existence and considers any deviation from this principle as misguidance on the path of monotheism. Due to the absence of widespread awareness in early Islam, wealth was concentrated in the hands of elites instead of being distributed justly, and this concentration led to economic and social deviation. At certain points, religious scholars refrained from implementing legal punishments because the accumulation of wealth by a few rendered the enforcement of such penalties ineffective without reforming the overarching economic structures. This perspective is rooted in the belief that economic deviation results from wealth concentration and a departure from the principle of distribution.
Islamic economics, like a flowing river, directs wealth towards all people and prevents its accumulation in the hands of a few. The Holy Quran explicitly stresses the distribution of wealth and considers concentration an obstacle to justice.
لِكَيْ لَا يَكُونَ دُولَةً بَيْنَ الْأَغْنِيَاءِ مِنْكُمْ
So that it does not circulate solely among the rich from among you.
This verse acts as a bright beacon, indicating the path of Islamic economics in which wealth must be distributed among all to prevent concentration and monopoly. The accumulation of wealth in the hands of governments or particular individuals results in economic deviation and intensifies insecurity in society. The hoarding of gold and silver within homes is a sign of this insecurity and departure from the spirit of Islamic economics, which emphasises the distribution and circulation of wealth.
Wealth concentration, like a heavy shadow, deprives society of the light of justice. The Holy Quran condemns the accumulation of wealth emphatically and promises a painful punishment for those who hoard gold and silver and do not expend it in the way of God.
وَالَّذِينَ يَكْنِزُونَ الذَّهَبَ وَالْفِضَّةَ وَلَا يُنْفِقُونَهَا فِي سَبِيلِ اللَّهِ فَبَشِّرْهُمْ بِعَذَابٍ أَلِيمٍ
And those who hoard gold and silver and do not spend it in the way of Godgive them tidings of a painful punishment.
This verse regards wealth accumulation as a burning fire that harms not only its possessor but also leads society toward disorder. The hoarding of gold in homes signifies insecurity and concentration, contradicting the principles of Islamic economics.
Poverty, like a heavy burden, restrains human mobility and vitality. The Holy Quran likens the poor to those who are confined in the way of God and unable to move freely on earth.
لِلْفُقَرَاءِ الَّذِينَ أُحْصِرُوا فِي سَبِيلِ اللَّهِ لَا يَسْتَطِيعُونَ ضَرْبًا فِي الْأَرْضِ
For the poor who have been confined in the way of God and cannot travel in the land.
This verse regards poverty as an obstacle to social mobility. The confined poor are those deprived of economic opportunities, barred from activity and production. Domination and monopoly exacerbate this confinement, even monopolising simple jobs such as waste collection.
Domination, like an iron chain, traps individuals in the narrow confines of poverty. Exploitative systems maintain dependence by distributing cash instead of production tools. Islamic economics, by contrast, emphasises granting production means to enable the poor to attain self-sufficiency.
The chaste poor are like hidden gems, perceived as wealthy by the affluent due to their dignity. The Holy Quran distinguishes this group from professional beggars.
يَحْسَبُهُمُ الْجَاهِلُ أَغْنِيَاءَ مِنَ التَّعَفُّفِ تَعْرِفُهُمْ بِسِيمَاهُمْ لَا يَسْأَلُونَ النَّاسَ إِلْحَافًا
The ignorant think them to be rich because of their chastity; you recognise them by their markthey do not beg persistently of people.
This verse defines the chaste poor as those who, due to their dignity and modesty, refrain from insistently requesting aid. Islamic society, with domination and concentration, has weakened this chastity and driven individuals towards begging or unethical occupations.
The verses on Khums and Zakat emphatically and devotionally stress the necessity of wealth distribution and prevention of concentration. These verses regard Zakat not merely as a financial payment but as an act of faith.
وَيْلٌ لِلْمُشْرِكِينَ الَّذِينَ لَا يُؤْتُونَ الزَّكَاةَ وَهُمْ بِالْآخِرَةِ هُمْ كَافِرُونَ
Woe to the polytheists who do not give Zakat, and they are disbelievers in the Hereafter.
This verse, with a severe tone, considers withholding Zakat as a sign of polytheism and disbelief in the Hereafter. Zakat, with a sincere faith and love for God, serves as a means to purify the self and society from concentration and domination.
Khums and Zakat, as divine instruments, are designed to prevent accumulation and excessive wealth concentration. They not only facilitate wealth distribution but also liberate society from economic anomalies.
خُذْ مِنْ أَمْوَالِهِمْ صَدَقَةً تُطَهِّرُهُمْ وَتُزَكِّيهِمْ بِهَا
Take from their wealth a charity by which you purify them and cause them increase.
This verse regards charity and Zakat as instruments for purifying the self and society. Just distribution prevents wealth accumulation and promotes economic development.