Islamic Economics: Public and Private Property in Islam - with Dr Abul Izz Abdul Salam
This week we invite back onto the show Dr Abul Izz Abdul Salam, a university professor and expert in comparative economics from Jerusalem Palestine to continue our series, today exploring property ownership. Capitalism places great emphasis on free enterprise, the orthodoxy states most property should be in the hands of private corporations, whereas radical socialism places a greater emphasis on collective ownership, looking upon property rights with scepticism. Until now, Muslims have oscillated between the two ideologies, many proudly describing themselves as Islamic capitalists or Islamic socialists. Yet Islam as the revelation from Allah (swt) came to help us reach salvation in the afterlife as well as harmony in our societies. So how do we define property in Islam?