The Purpose of Islam Economics

The betterment of life both in financial and spiritual is the root of all objectives of Islam Economics. Basic of Islam method is concerned into supporting people to be caliph in this earth. The rules manage the relationship between human with the family, human with human, leader with employees, the rich one and the poor one, and also the properties with the children that will give good benefit for the human and avoid the badness like what we say ”jalbil mashalih wa daf’il al dharar”.

To reach that benefit, there must be some purposes in the Islam economics as follows:
1.Raise the Growth of economics (Economic Growth)
Economic growth becomes the purpose from all economics system including the Islam economics. The raise of GNP, NNP, or NI must be the indicator in the success of an economics of a nation. That’s why, all systems must raise it. Difference with other system, Islam Economics system must pay attention to things that are legal and illegal. Conventional economics put all kinds of things and services in its GNP’s components, but in Islam economics system, it must be selective, which one we can put and which one we cannot.
2.Create the Stable Price
The stability of price is crucial thing, not only feel by the politician or the economics people but also by the people. That’s why, Islam economics must create it by using the idle money and omit all speculations.
3.Raise the Economic Efficiency
Economic efficiency can be divided into two categories , they are :
a.Allocative efficiency
b.Technical efficiency
In this efficiency problem, there are some points that must be different with conventional economics. The difference can be described as follows :
i)In conventional economics system, individual benefit is the same with social bnefit. But Islam does not see it like that. Social benefit sometimes is not the same with individual benefit. It means that social benefit is not a combination of each individual benefit.
ii)Costumers will buy something when they get the same benefit a the price they pay. While the ability of buying something is different. It means that market price that is told as the fair price is only defined by the people who have high ability to buy. Surely, small or low income will get nothing.
4.Fair Income Allocation
In this part, Islam is clear that Islam does not want the allocation and the having of a wealthy is done by certain people. Allah said in His Holy Qoran Al Hasr 7 :
It means:
Whatever the common property that is given by Allah to His caliphs (from wealthy) that comes from the city inhabitants, so it is for Allah, for the caliphs, for the families, the orphans, the poor people, and the people who are travelling, in order that the property is not spread only among the riches. What caliph give to you, just accept it, and what forbid to you, just leave it, and just believe to Allah. Honestly, Allah has a strict punishment.

Source : Al-Ikhlas Finance Group.