Halal conception and other factors affecting income distribution in Islam
Author
Source
International Journal of Islamic Economics and Finance Studies
Issue
Vol. 5, Issue 3 (30 Nov. 2019), pp.1-15, 15 p.
Publisher
Centre of Political Economical and Social Research
Publication Date
2019-11-30
Country of Publication
Turkey
No. of Pages
15
Main Subjects
Economy and Commerce
Islamic Studies
Abstract EN
This paper examines and analyses the vital role of halal conception and its impact in mitigating and reducing the problem of unjust income distribution in our society.
It also further expounds some relevant approaches to different economic systems in addressing income inequality.
Generally, the conception of halal earning is not only associated with consumptions and devotional acts.
Halal, in general, is a term that encompasses all aspects of lawful and unlawful in Islam including economic activities.
For Muslims, halal earning is not only mandated by the Almighty God, but it is also indispensable for the acceptance of their religious acts.
In relation to its significance in society, halal conception has indisputable impacts on the socio-economic problems of our society.
Undeniably, one of the challenging economic issues in our society is the continuous rising of income inequality where the rich become richer and the poor become poorer.
This unjust income distribution not only widens the undesirable gap between rich and poor people but also empirically brings socio-economic predicaments in our society.
However, the conception of halal earnings is of remarkable mechanism can response the issue of unjust income distribution.
Halal earnings can allocate economic resources efficiently and reduce income inequality in our society.
The rising concentration of wealth in the hands of few rich individuals has something to do with high returns from proliferation of unlawful professions and economic activities in our society.
American Psychological Association (APA)
Latif, Sahraman Hadji. 2019. Halal conception and other factors affecting income distribution in Islam. International Journal of Islamic Economics and Finance Studies،Vol. 5, no. 3, pp.1-15.
https://search.emarefa.net/detail/BIM-975646
Modern Language Association (MLA)
Latif, Sahraman Hadji. Halal conception and other factors affecting income distribution in Islam. International Journal of Islamic Economics and Finance Studies Vol. 5, no. 3 (Nov. 2019), pp.1-15.
https://search.emarefa.net/detail/BIM-975646
American Medical Association (AMA)
Latif, Sahraman Hadji. Halal conception and other factors affecting income distribution in Islam. International Journal of Islamic Economics and Finance Studies. 2019. Vol. 5, no. 3, pp.1-15.
https://search.emarefa.net/detail/BIM-975646
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 14-15
Record ID
BIM-975646