Islamic political economy in national development

Persian Achaemenid gold coin circa BC In BC, Croesus of Lydia was defeated and captured by the Persianswho then adopted gold as the main metal for their coins. By the time of Herodotus c. Modern agriculture in Iran dates back to the s, when Amir Kabir undertook a number of changes to the traditional agricultural system.

Islamic political economy in national development

It is difficult to appreciate the different aspects of the Islamic policy with- out fully understanding these three principles.

I will, therefore, begin with a brief exposition of them. Tawheed Oneness means that one God alone is the Creator, Sustainer and Master of this universe and of all that exists in it organic or inorganic.

The sovereignty of this kingdom rests only in Him.

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He alone has the right to command or forbid Worship and obedience are due to Him alone, none else sharing it in any degree or form. Life, in all its multifarious forms, our physical organs and faculties, the apparent control which we have over everything that exists in this universe, and the things themselves none of them has been created or acquired by us in our own right.

They are the bountiful provisions of god and in bestowing them upon us, no one is as Him. Hence, it is neither for us to decide the aim and purpose of our existence or to prescribe the limits in our worldly authority nor is anyone else entitled to make these decisions for us. This right vest only in God Who has created us endowed us with mental and physical faculties, and provided all material provisions for our use.

This principle of the Oneness of God altogether negates the concept of the legal and political sovereignty of human begins, individually or collectively. Nothing can claim sovereignty, be it a human being, a family, a class or group of people, or even the human race in the world as a whole.

We have received two things from this source: The Book in which God has expounded His Law; and The authoritative interpretation and exemplification of the Book of God by the Prophet, through his word and deed, in his capacity as the last messenger of God.

The broad principles on which the system of human life should be based have been stated in the Book of God.

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Further, the Prophet of God has, in accordance with the intention of the Divine Book, set up for us a model of the system of life in Islam by practically implementing the law and providing necessary details where required. This purpose is achieved when man fulfills his function and is missed when man fads to live up to his designated role.

In that case, his life will be barren and devoid of any original meaning.

Islamic political economy in national development

This special role relating man to his Creator is subservience to Allah and worship of Him. Thus, the meaning of worship must be extended to go beyond mere rituals into all activities since Allah does not only call upon us to perform rituals but His injunctions regulate all aspects of life.

The role of Khilafat is definitely an integral part of meaning of worship.

The "Islamic Trend"

The truth about worship comes out in two essential points, namely: This dedication should be channeled solely to Him and nobody else. No other feeling should have any room left, except in so far as it is construed as part of the meaning of worship of Allah.

In this way the meaning of worship is fulfilled. This is exactly what Islam means when it lays down that man is Khalifah servant of God on the earth. The state in Islam is not intended for political administration only nor for the fulfillment through it of the collective will of any particular set of people; rather, Islam places a high ideal before the state for the achievement of which, it must use all the means at its disposal.

And this purpose is that the qualities of purity, beauty, goodness, virtue, success and prosperity which God wants to flourish in the life of His people, should be engendered and evolved. And that all kinds of exploitation, injustice and disorders which, in the view of God, are ruinous for the world and detrimental to the life of His creatures are suppressed and prevented.

Simultaneously, by placing before us this high ideal, Islam gives us a clear outline of its moral system clearly stating the desired virtues and the undesirable evils.

Islamic political economy in national development

Keeping this outline in view the Islamic state can plan its welfare program in every age and in any environment.Islamic political economy comes into existence quite recently, though political economy itself is already an established discipline.

To our knowledge, Islamic political economy was born into academic discourse just in late. To be sure, political Islamists may have specific ideas about what Islam implies for public policy and governance, but these considerations do not seem to be behind .

Islamic Political Economy, An Epistemological Outlook The study of Islamic political economy invokes an epistemological examination of socio- scientific phenomena in the light of the pervasively interactive and unitary evolutionary. The great conclusion of this paper is to prove the synergy between religion and politics in the economic development of a State.

The more polarized the system of ethical-religious and political beliefs, the more help the economic development of a State. Sep 21,  · In Islam, the rules, institutions, operations and practice of the Islamic economic and financial system are outlined in the Quran and interpreted .

The basic principles of the Islamic economic system have the capacity to develop and progress in accordance with human potentials.

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An Islamic perspective on political economy. Your Vibe February 5, , pm January 30, 2. 87 No other alternative routes for economic development are envisaged but to let “the laws of the.

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