Essay (4) a Note on the Institution of Al-Hisbah and Its Economic Functions in Today’s Economy. a Short Essay by Mustafa Aydemir

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These Short Essays are partial fulfillment of Paper IE1001 of Part 1 of Certified Islamic Finance Professional (CIFP)
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INCEIF
Student Name: Mustafa Aydemir
Student ID: 1200279

Bismillahirrahmanirrahim
Essay (4) A note on the institution of al-Hisbah and its economic functions in today’s economy. A short Essay by Mustafa Aydemir There are various controlling mechanisms in Islam. Allah swt is overseeing his entire creation; Self-discipline and control by a person self; a persons supervising another person; and the accountability system elaborated in this essay, namely Hisbah.

Forbidding the wrong is a divinely imposed obligation on every Muslim. In other words, an executive power of the law of Allah (swt) in vested in each and every one follower of the Islamic faith. This concept points out that it is not only a right but a duty on a single Muslim to issue orders lenient to Gods law, and to do everything in his capacity that they are followed (Cook, 2001). It is the second statement of the Islamic doctrine ‘al-amr bil-maruf wa nahy an al-munkar’ that can can be considered the foundation of Hisbah. It is derived from the Quran verses “Commanding right and forbidding wrong” (3-110), (3-104), (7-157), (9-71).

Beside being an individual obligation of a Muslim to actively seeking the rightful and actively removing the prohibited, Hisbah is a spiritual institution under the power of the state that appoints citizens to carry out the responsibility of enjoining what is right, whenever people start to neglect it, and forbidding what is wrong, whenever people start to engage in it. It is aiming to safeguard a nation from deviance, protect Iman (faith), and ensure the well-being of all people in both spiritual and matters in our daily life according to the Islamic law. It is common knowledge of a Muslim that Allah has made it obligatory to all believers to command well and prevent wrongdoing to the extent of his or her knowledge and...
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