Abstract
Social scientists raised several questions about the nature of wealth. For example, how we can define wealth, its nature, how one can get it (natural or unnatural way), its impact on man's behavior (good or bad).
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Notes
- 1.
https://www.econlib.org/library/Columns/y2007/Mungerrecycling.html retrieved on 7th February 2022.
- 2.
Define by Aristotle, “Natural wealth means: every authentic integral part of nature like plant, fungi, animal, mineral, fossil, water, soil, etc.” (https://www.google.com/search?q=natural+and+unnatural+wealth&rlz=1C1GGRV_enSA844SA845&oq=natural+and+unnatural+wealth&aqs=chrome..69i57.11299j0j4&sourceid=chrome&ie=UTF-8 retrieved on 7th February 2022.).
- 3.
Define by Aristotle, “ But when a human sustains herself in certain other ways — such as by the accumulation of coinage through trade, speculation, or usury, she is behaving unnaturally.” (https://sniggle.net/TPL/index5.php?entry=30Nov18 retrieved on 7th February 2022).
- 4.
“Five necessities in Islam are religion, life, intellect, wealth, and honor”.
- 5.
Detail is available in Chapter An Nisa.
- 6.
“Who collects wealth and [continuously] counts it. He thinks that his wealth will make him immortal. No! He will surely be thrown into the Crusher. And what can make you know what is the Crusher? It is the fire of Allah, [eternally] fueled, Which mounts directed at the hearts. Indeed, it [i.e., Hellfire] will be closed down upon them. In extended columns.” (104: 2–9).
- 7.
“Al-Bukhari, Sahih al-Bukhari (Kaherah: Dar al-Hadith, n.d), hadith no. 50; Al-Nawawi, Sahih Muslim bi-Syarh al-Nawawi, hadith no. 2996”.
- 8.
“According to the Hanafi school of thought (mazhab), a category of mal that is capable of legal (shari'ah-compliant) ownership and legal transfer. This category includes all things that possess value from the perspective of shari'ah, and therefore are subject to the full range of lawful transactions (shari'ah-compliant commutative and non-commutative contracts) such as sale (ba'i), rent (ijarah), pledge (rahn), and gift (hibah). Mal mutaqawwim, in general, can be traded at a price. Examples include commodities such as wheat, rice, and oil, and assets such as lands, houses, equipment, and shares of stock. Items such as loans and bonds are not mal mutaqawwim because shari'ah forbids trading borrowed funds for the purpose of making profit”. (https://www.investment-and-finance.net/islamic-finance/a/al-mal-almutaqawwim.html#: ~ :text = Al%2Dmal%20al%2Dmutaqawwim%2C,the%20purpose%20of%20making%20profit. Retrieved on 7th February 2022).
- 9.
“Tabung Haji facilitates savings for the pilgrimage to Mecca through investment in Shariah-compliant vehicles”.
- 10.
Maududi (1972) explains as in Tafheem ul Qur’an, Surah Al Baqrah, Verse 276 “By God's decree, the law of nature is such that interest not only serves as a strain on moral and spiritual well-being, and social and economic growth, it also causes actual regression and decline. Charity, however, (including such acts as lending money to people with the stipulation that they should return it if they can. and at their convenience) leads to the growth and expansion of man's moral and spiritual qualities and to the growth of human society and economy. Looked at from moral and spiritual standpoints, it is evident that interest is not only the outcome of selfishness, miserliness and callousness but also encourages their growth.”
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Shirazi, N., Altwijry, O., Azid, T., Chaudhry, M.O. (2022). Wealth Management and Investment: An Islamic Epistemology. In: Azid, T., Mukhlisin, M., Altwijry, O. (eds) Wealth Management and Investment in Islamic Settings. Springer, Singapore. https://doi.org/10.1007/978-981-19-3686-9_1
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