The economic policy in Islam is the objective of the laws, which deal with the management of human basic needs (food, shelter, education, health and security).
Prophet Mohammad (PBUH) is narrated to have said: “Whom who ends his day with security at home, with healthy body, and with food at home has acquired his needs in this life”. Also, he states: “Allah breaks covenant with any group of people living in close vicinity, whereby one of them goes to bed while hungry”.
Islam categorically prohibited the use of money to grow money, i.e., usury.
Loans in Islam are given to others and considered a means of worship. Allah (SWT) declares that whoever gives a loan (no interest) to another person is indeed giving a loan to Allah. In return, Allah multiplies the reward for the loan giver.
Allah stated:
“Whoever gives a good loan to Allah; and Allah will multiply it to him many fold”
2006-08-23
21:09:46
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3 answers
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asked by
Malcolm X
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Religion & Spirituality