Wednesday, March 31, 2010

Philosophy of Islamic Economics - 31 Mar 2010

AlhamdulilLahx3, following up from the Tasawwur Islam course, equipped with a changed mindset, it enabled me to see that the Islamic Economics is a separate paradigm from the conventional Economics outlined by Sheikh Abdul Halim.

Abu Hurairah (May Allah be pleased with him) reported: The Prophet SAW said, "Richness is not the abundance of wealth, rather it is self-sufficiency.'' [Source:Al-Bukhari and Muslim].

View this video, which outlined wealth, financial independence and patience in Islam:

[Source courtesy of Al Kawthar Academy]

To get one started, read this article by Dr S. M. Hasanuz Zaman and if you like what you read, get the book "Economic Guidelines in the Quran" for further reading.

Afternote: As mankind has taklif (to be accountable for one's deeds in Hereafter), it is essential to earn a 'clean income’ to gain barakah from Allah SWT for self-sufficiency as what goes into our bodily system shall be halal (permissible) and taiban (good) as I can't imagine prostrating to Allah Azza wa Jalla without a 'clean system', which technically is 'on loan' to us from Allah SWT and if we can do that, the rest will fall into place coz truly justice is synonymous with Adab. Wallahualam bissawab. The good comes from Allah SWT and the bad comes from me.

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