The concept of wealth in Islam


  • Letters
  • Tuesday, 29 Nov 2005

IN ISLAM, it is understood that the real owner of all wealth is Allah. Man only owns wealth by proxy as guardian for which purpose he has been made vicegerent (khalifah) of Allah on earth. 

Unlike capitalism and socialism which believe that man – in his quest for wealth – must deal with scarcity of resources, Islam views the concept of wealth differently. 

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