URDU-15 Significance of Economical Dealings in Islam, It’s Basic Conditions and Remedy to the faults lying in Economical Affairs

Abstract

Islam is a religion which guide us in all aspects of our lives, Economic Activity is also an important aspect where Islam guided us that how it is important and how the one can do his activities as per Shariah guidelines described in Qur'an o sunnah, these are divine revelation for Muslims and defined principles under which one can do his economic activities. Islam give importance to economic activities but today, as Muslims, we seem to be very active in the field of worship and try our best to fulfill it, but we are very lack in the field of economic activities, although the field of economic activities is more important than worship.  This is critical because the correctness of the acts of worship depends on the correctness of the economic activities as If the principles of Shari'ah are not observed in the economic activities, then its effects on the acts  of worship are also compounded. But even so, if we look at our society, we see more people who are negligent in economic activities than in worship.  Apparently, the religious class also looks weak in the economic activities.  While there are many other reasons for this, one of the main reasons is the lack of knowledge and awareness about this important field of Shariah. Therefore, as a Muslim, it is our responsibility to know and follow all the commands that we do in our daily lives so that we can do the correct economic activities along with worship and one should also be able to perform his duties according to the law and be entitled to the pleasure of his God. The principle stated by the jurists in the economic activities is that economic activities are permissible in nature which means that any transaction in the field of economic activities other than acts of worship will be permissible in principle, provided that the transaction should be free from Shariah prohibitions. Therefore, any transaction, whether it was made fourteen hundred years ago, whether it is a transaction in today's modern age, or a transaction in the future, in principle  this transaction will be ruled to be lawful until there is no Shari'ah prohibition in it. Now the question is what are those Shariah prohibitions? We can easily divide these Shari'ah prohibitions into four categories: General Prohibitions, interest, Uncertainty/Gambling  and Violation of Islamic Law of Contract. In this paper importance of economic activities, conditions and Shariah prohibitions are defined.