ISSN(Print): 2790-6795 | ISSN(Online) : 2790-6809 | ISSN-L : 2790-6795

Title

Islamic Economic System and Pakistan: An Analysis


Authors

  1. Muhammad Munib Khalid
    Lecturer , School of Political Science , Minhaj University, Lahore, Punjab, Pakistan
  2. Sajida Begum
    Assistant Professor , School of Political Science , Minhaj University, Lahore, Punjab, Pakistan
  3. Muhammad Sohail Fazal
    M. Phil Scholar , School of Political Science , Minhaj University, Lahore, Punjab, Pakistan

Abstract

This study focuses on the Islamic economic system. Islam is a complete code of life and it’s a Deen. Some sources of income in Islamic economic system are Zakat, Ushr, Jizya, Fai, Khums, Khiraaj, Ushoor, Nawaib and Zaraib. Capitalist is an economic system in which rich becomes richer and poor becomes poorer. There is no right of private ownership in Communist or Socialist economic systems. Socialism is the soft form of Communism. Zakat is anonly system in Islamic economic system. Pakistan’s economic system is mixed system.In Pakistan, unfortunately Zakat system is poor. There are many irregularities in Zakat and Baitul Mal funds in Pakistan. Class segregation, corruption, undocumented money and interest (Riba) are the major flaws in Pakistan’s economic system.

Keywords

Capitalism, Communism, Interest, Islamic Economic System, Pakistan, Zakat

Article

Article # 3
Volume # 1
Issue # 1

DOI info

DOI Number: 10.35484/ahss.2020(1-I)03
DOI Link: http://doi.org/10.35484/ahss.2020(1-I)03

Download

download pdf Creative Commons License

Citation Formats

ABNT   APA   BibTex   MLA   Oxford   Harvard   Chicago   Turabian   AAA   MHRA