Financial Systems In An Islamic Society

An ideal Islamic society would be comprised of two financial systems:

1. Spiritual
2. Social Justice

Financial System Based on Spirituality
The spiritual system which is entirely voluntary, enables believers to spend their life at the bare minimum in terms of their needs and desires. At the spiritual level, a person doesn't need to build properties & accumulate wealth etc. rather follow the footsteps of our beloved Prophet Muhammad(peace be upon him), who when died had practically nothing in his house. The spirituality of a person makes him to think of himself as a by-passer in this world like a person on a train station waiting for the next train to reach to his real destination. If that person start decorating his temporary sitting area, instead of focusing on his real destination and/or objective, he would end up losing his train and will probably end up at a wrong destination. Similarly, the Wali-Allah(Friends of Allah) in Islam are the people who give up all material valuables of this world for achieving the nearness of Allah. Every deed they do, every action they perform and very word they utter is solely for the acceptance of Allah. This approach attracts masses towards them and although their intention is not for wordly fame, people give them an utmost important due to their obvious link and friendship with Allah (SWT). However, this fame doesn't make them to feel pride in anyway instead they become more humble and down to earth. They speak only the truth and don't harm or decieve anyone.

Financial System Based on Social Justice
The second type of financial system is based on social justice. It is only practicle that not every individual in a society can attain the spiritual status mentioned above. Therefore, a mechanism has been established by the command of Allah (SWT) to handle those people who are relatively weak and could make mistakes willingly or unwillingly. The Islamic state consider a person Muslim as soon as he utters the following words:

"I bear witness that there is only one God(Allah) and Prophet Muhammad is his messenger and slave"

There is no paper work required to register or any complex set of rituals to perform in order to be called muslims by any indivudal convert rather only one verbal sentence of declaration would make that person eligible of the same status as that of his fellow muslims. Since an Islamic society is a combination of muslims and non-muslims, the rules have to be defined for various situations that would safe-guard the honor, wealth and live of all individuals. Hence, the Shariah law comes into practice and defines a boundary under which people would interact. The severe punishments mentioned in Shariah law can't be applied by default, instead there is a very tough set of pre-requisite to meet before these punishments could be actually be implemented. It has to establish beyond doubt that a person has willingly indulged himself in a given heinous crimes against Islamic morale or Hudud-Allah before being exposed to Islamic punishments.

The justice system for having the right of owning a property and other financial rights for an individual are protected under the Islamic Shariah Law and it is made sure that no injustice of any sort would take place against any citizen of an Islamic state. The reason behind this justice and the punishment for violating these law is to warn general public of the possible outcome of those evil deeds and hence train them and their next generations accordingly so that they would start treating those bad deeds as unacceptable elements in their lives. The establishment of this justice system would make sure that the ordinary muslims/non-muslim and their families get the true justice and as a result a culture and society would forms comprising of tolerance, morality, dignity, and well being for all. A society or system that would be helpful for humans to proposer both materially as well as spiritualy.