Towards A Unified Zakat System

Freedom of activity is protected in Islam, although anyproduction, sale or consumption must be within theframework of the Shariah. This latter, the embodiment ofIslamic law, is the source of Islamic moral values, whichplay a major role in Islamic economics. In addition toregulation, moral values guide the relationship betweenproducers and consumers and between employees andemployers. Social justice provides for equal opportunity ofwork and a minimum subsistence level. Social differencesare minimised and concentration of wealth is discouragedand reduced through the imposition of Zakat and inheritancelaw.Although all Muslims believe that Riba is prohibited, notall of them have refrained from making deposits in usuriousbanks, partly because they had no alternative, or becausethe interest was too attractive.Riba, which is interpreted as interest, Both the Qur'an andthe Sunnah are clear as to its prohibition. But becauseusury was practised by pre-Islamic Arabians and during theearly stages of Islam, the prohibition was doneprogressively. In general, in order for the lending deal tobe lawful, the lender must share both the risk and success260