Library Islam Philosophy of Islam chapter 17 - Guidelines of Islamic Economy Right of property in Islam
Right of property in Islam
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Right of property in Islam
In the Islamic system the right of property has a special form by the help of which most of the evil effects of private property under the capitalistic and semi‑capitalistic systems can be avoided and at the same time the personal incentive to economic effort can to a great extent be maintained.
According to Islamic concept three basic conditions of the right of property have been visualized.
(1) Property should not have been acquired by unlawful means, that is the means repugnant to any definite rule of Islam.
(2) This acquisition and its continuity should not involve any damage to others.
(3) This acquisition should not invalidate any valid claim nor should establish an invalid one.
On this basis a person who purchases stolen property will not be regarded its owner, though he may not be aware of the fact of the matter, because it has not come to him through lawful means.
Similarly anything obtained by a person through cheating, forgery or coercion will not become his property and he will have no right to transfer it to anyone else.
No individual or group will be regarded as the rightful owner of the money obtained as a result of the transfer of national sources of wealth to others
