sickness‚ disability‚ unemployment or old age.’ What responsibility do we have as Muslims to address this issue? - In Islam helping people who live in poverty or are poor are to be given a lot of importance. One of the 5 pillars of Islam is ‘Zakat’. Zakat is a form of giving to those who are less fortunate. It is obligatory upon all Muslims to give 2.5 % of wealth and assets each year (in excess of what is required) to the poor. Therefore it will help the families to buy the basic necessities of
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Islamic bank are: * The absence of interest-based (riba) transactions; * The avoidance of economic activities involving oppression (zulm) * The avoidance of economic activities involving speculation (gharar); * The introduction of an Islamic tax‚ zakat; * The discouragement of the production of goods and services which contradict the Islamic value (haraam) On the other hand‚ conventional banking is essentially based on the debtor-creditor relationship between the depositors and the bank on one
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3. SOCIO-ECONOMIC ISSUES (SELECTED TOPIC) (8 hours) POVERTY 3.1 Overview socio-economic policies – briefly discuss poverty‚ inequality of income distribution‚ unemployment and pollution. ➢ Poverty and income distribution are two socio-economic problem faced by Malaysia. ➢ We have other socio-economic problem such as unemployment and distribution. ➢ Poverty still exist in urban‚ rural‚ any state‚ and among ethnic. It is related to underdeveloped area‚ lack of infrastructure
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Some scholars in Islamic economics argued that the concept of time value of money is a key to the door or riba which is prohibited in Islam. However‚ some scholars are of the opinion that time value of money is a concept valid in Islamic economics. What are your opinions on this issue? DISCUSSION: Islam prohibits riba because riba deprives justice and discourage people from undertaking real economic activities. Profit earned from money that is loaned to debtor is considered as interest or usury
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Factors that Aided Islamic Civilization Civilization (or civilization) is a sometimes controversial term that has been used in several related ways. Primarily‚ the term has been used to refer to the material and instrumental side of human cultures that are complex in terms of technology‚ science‚ and division of labor. Such civilizations are generally hierarchical and urbanized. In a classical context‚ people were called "civilized" to set them apart from barbarians‚ savages‚ and primitive
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The Similarities Between Christianity and Islam: There are hundreds of religions practiced in the world today. Of them two are the most prominent. Islam and Christianity. It is averaged that there are 750 million people practicing Islam‚ and another 1 billion practicing Christianity. The start of Islam actually derived form Christianity‚ history books indicate that one night in the year 610‚ the first of many revelations came to Muhammad from God by way of the angel Gabriel (In Christianity this
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Comparisons and Contrasts between Christianity‚ Islam‚ and Judaism Between the religions of Christianity‚ Islam‚ and Judaism‚ there are many similarities and differences that are dealt within each of them. Throughout these religions‚ we can compare and contrast different aspects of each religion such as some of the basic facts of their histories and some of the religious beliefs each of them have in common and or make them different from each other. In the country known as Palestine‚ the religions
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TWO NATION THEORY Muhammad Asbaq Younis MEANING OF TWO NATION THEORY The Two Nation theory means the cultural‚ political‚ religious‚ economic and social dissimilarities between the two major communities‚ Hindus and Muslims of the Subcontinent. This theory means that there were two nations in the subcontinent‚ the Hindus and the Muslims. Subcontinent consists of two different communities having their own philosophy of life. This theory gave rise to two distinct political ideologies
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World of Islam: Arabic Civilization Terms and Identifications: Islam: Monotheistic religion announced by the prophet Muhammad (570-632); influenced by Judaism and Christianity‚ Muhammad was considered the final prophet because the earlier religions had not seen the entire picture; Quran is the holy book of Islam. Quran: Holy scripture of Islam; also known as “the recitation”; Believed to be the word of God; written record of ethical and social guidance that Muhammad told his followers;
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Although this nation has long been called a “melting pot”‚ one would not have to look too deep into that analogy to see that it may not be the best way to describe the combination of people from various parts of the world that have chosen to live here in the United States. If various components were to be added and melted down into a pot of sorts‚ it would be reasonable to deduce that the result would leave an amalgamated form of matter of which the various components that construct it would now
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