Iwm chapter 1

• Wealth (Al-Mal)


  The concept of wealth in Islam covers the way to accumulate and utilize them
• Wealth


  Commonly derived through the possession and ownership of assets, termed al-mal in Arabic
• Islam does not restrict and prohibit the pursuit and accumulation of wealth
• Islam encourages Muslims to be strong both materially and spiritually
• A wealthy Muslim would benefit their family, the society and ummah at large
• Muslims believed that in the hereafter, they will be questioned on how their wealth was spent
• Al-mal


  Refers to whatever men possess of gold, silver, wheat, bread, beasts, garments, weapons, or other things of value
• Characteristics of wealth

  • It must have commercial value
  • It must be capable of being owned and possessed
  • It must be capable of being stored
  • It must be beneficial in the eyes of the Shariah
  • The ownership of the thing must be assignable and transferable
• Human as Vicegerent of Allah


  Muslim belief Allah is the True Owner of everything in this world and human beings are the vicegerent (khalifah) of Allah on earth
• Seeking Wealth is a Fitrah with Guidelines


  Human beings by nature are inclined to accumulate wealth for their own purposes, but there are certain rules and regulations that they must adhere to
• Wealth is a Life Attraction, Test and Responsibility


  Islam acknowledges the attraction of wealth and its importance to the well being of human being in this world
• Wealth and Worship Should Not Contradict Each Other

  Islam recognizes the role of wealth as a mean to attain success in this world and hereafter
• the Five Vital Elements of human

  Wealth is one component of al-daruriyyatal-khamsah :religion, life, intellect and posterity)
• Protection of Property (al-Mal)


  • Islam has ordered that no one should transgress and acquire the property of others without legitimate reasons & without proper contract
  • Shari'ah has established different means for the objective of wealth preservations
• Categories of Maqasid al-Shari'ah

  • The essentials (al-daruriyyat)
  • The complementary (al-hajiyyat)
  • The embellishments (al-tahsiniyyat)
• Pillars of Contract

  • Contracting Parties
  • Subject Matter
  • Price/Consideration
  • Format