Towards A Unified Zakat System

3.10 SummaryIn this chapter the main principles and features of Islamiceconomics have been outlined. The main goals of wellbeing,social and economic justice, equitable distribution ofincome, and the freedom of ownership and economic activityhave been discussed. Although God is the ultimate owner,human beings are His vicegerents on Earth. Private propertyis, therefore, recognised and protected by Islam. Publicownership is recognised by Islam where private ownership isnot possible or injurious to the public interest. In thisrespect, rivers, roads and mines are all owned by the state(Afzal-Ur-Rahman, 1980).Freedom of activity is protected in Islam, although anyproduction, sale or consumption must be within theframework of the Shariah. This latter is the source of theIslamic moral values which play the major role in Islamiceconomics. In addition to regulation, moral values guidethe relationship between producers and consumers andbetween employees and employers. Social justice providesfor equal opportunity of work and a minimum subsistencelevel. Social differences are minimised and concentrationof wealth is discouraged and reduced through the impositionof Zakat and inheritance law.95