Episode 016 - Ali Salman, Part 3 - Islamic principle of wealth distribution

This episode is the third of a four-part discussion that relates to Ali Salman’s book, "Islam & Economics: A Primer on Markets, Morals and Justice". In this part, we further discuss the Islamic economic principle of wealth creation. We touch on topics such as: Zakat and its implications on secular state; and Waqaf and the ideas of socialism.

 

Ali Salman is an economist by training, and CEO of Islam and Liberty Network. He is the founder of Policy Research Institute of Market Economy (PRIME) in Pakistan. He is currently based in Malaysia, where he heads a leading think tank, Institute for Democracy and Economic Affairs (IDEAS).

 

Zakah and what it means today

Reinterpretation of Zakah

Zakah or normal taxation for secular state

The limitation of Zakah

Waqaf

Guarantee of Waqaf

Distribution of wealth akin to socialism?

Inequality as a divine scheme and wealth distribution

Law of Inheritence

Women in rights of inheritance

A new reinterpretation

Closing remarks