Contemporary Patterns of Concentration of Wealth and its Prevention with Respect to Injunctions of Quran and Sunnah

ارتکاز دوولت کی موجودہ صورتحال اور اس کا سد باب (قرآن و سنت کی روشنی میں تجزیاتی مطالعہ)

Abstract

Concentration of wealth refers to the possession of wealth in few hands. It is an undeniable fact that most of the world’s wealth is possessed by very few persons which gave birth to numerous problems particularly hatred among rich and poor class. The main cause of this serious issue is the perception of both stakeholders as the capitalists, industrialists, businessmen, and traders thought that they actually deserve more profit, luxuries, and facilities as they have invested in terms of money, management, expertise and infrastructure. Similarly, labours think they deserve the reasonable profit because they work hard and produce the products. But unfortunately, they are unable to fulfil their basic needs because they get very less salaries against hardworking which ultimately make them unsatisfied. Moreover, the businessmen do not pay legal taxes and bother about Islamic injunctions in this matter. In this connection, this academic work is particularly designed to look into this issue by keeping in view the teachings of Noble Quran and Sunnah. Qualitative and descriptive research method is employed for the collection and analysis of data. By reviewing the vast amount of literature, the author concludes that concentration of wealth is strictly prohibited in Islamic shariah as it promotes hatred, economic instability, crimes and other social evils. Islam has emphasized on circulation of wealth to ensure the smooth economic activities into the societies. For this purpose, Islam has introduced obligatory and optional commandment. The research recommends to adopt Islamic injunction in order to diminish the concentration of wealth from society.