Islamic Economic System?

Is there such a thing as an Islamic economic system?

[@abdullahjunaid9572]

AOA, Sir am student of MSc sociology from AIOU and listening your lecture just an hour before my university exam..... u are simply love 💕

[@zunairasadiq]

Gonna fail xD

[@humza9516]

@@zunairasadiq I know what you did when you were supposed to be with daddy Marx and daddy comte and daddy Durkheim!

[@YasirKhan-wm7rn]

Hi, Its a nice and informative lecture and I agree to most of the things. One thing I would like to clarify (which is the underlying misconception for most) is that Islam gives us top level rules and principals and then its up to us to use them as per the Technological Basis, Forms of Property, Forms of Service & Surplus etc. Once those principals are followed, Islamic Economic System will prevail and beneficial to the humanity for yesterday, today & times to come. Dr. Israr RA has explained them in great details in his lecture series "Khutbaat e Khilafat". You can search them on YT. Here is the jist of it: -------------- 4 Cardinal Financial Principals of Islamic Economic System in Islam At Spiritual Level: - Negation of all human ownership (while you could be legal owner, You are trustee of it, from Allah) - امانہ - Whatever you earn, its not with your power. Its basically Allah's Grace - فضل - Your actual right on your own money is what you need out of it. Rest is for others and Allah has bestowed you with it as test - جائز حق - Whatever is more than your needs, give it away - انفاق At Legal Level: - Controlled and Internally Managed Capitalism (Best of both worlds Capitalism & Socialism) - Personal Ownership (Home, Business,etc.) at legal level is acceptable - Zakat for the wealthy - Sood (Only Money makes money) is Forbidden - حرام - Gambling is Forbidden - Selling via Inflammation of the lower emotions - سفلی جذبات بھڑکانا - Selling Drugs/Alcohol/Forbidden items is Forbidden - In case of Sleeping Partner, the loss is not to be bear by Working Partner, rather the investor In Islamic Economic System, at one side Capitalism is accepted (with some limitations) Free Economy, Market Economy, Forces of the Market, Non-Controlled rates, Incentives to grow Economy and on the other side, its evils are mitigated i.e. Interest, Fixed Profite etc. are forbidden.

[@muhammadshehbaz1231]

jzzakALLAH brother

[@hashimawan2433]

Taimur is a Communist,Don't take Communists seriously!!!!! The Communists of Pakistan are filled with Qadiyanis and Murtads!!!!!

[@hashimawan2433]

@@muhammadshehbaz1231 Taimur is a Communist,Don't take Communists seriously!!!!! The Communists of Pakistan are filled with Qadiyanis and Murtads!!!!!

[@apurpose8614]

JazakAllah brother

[@thegreatsocrates4847]

Sorry but as a muslim i have question in my mind if Islamic economic system is the best economic model then why muslim world was in devastating situation before crude oil 🛢 was Discovered in Gulf countries even there were millions of scholars ?

[@thegreatsocrates4847]

This comment/question is for those who are supporting Islamic economic system over Socialist economic system.

[@dann5480]

No economic system is the best, there are good and bad things in all systems.

[@waseemrasheed2367]

Arab world has oil but west has tech to obtain oil. socialist system will not succed in arabs not even islamic system, because arab need to have self reliance. Arabs are depended on west tech for obtaing oil from their land. West is 400 years ahead of muslims in education.

[@waseemrasheed2367]

@@thegreatsocrates4847 thanks bro i have removed that word

[@waseemrasheed2367]

Arab world has oil but west has tech to obtain oil. socialist system will not succed in arabs not even islamic system, because arab need to have self reliance. Arabs are depended on west tech for obtaing oil from their land. West is 400 years ahead of muslims in education.

[@zahidkalam2147]

سرجی اپ سے چند سوالات ؟ ؟؟؟ (1) اگر آپ لیفٹیسٹو کو اکثریت مل جائے تو اپکا لاحہ عمل آئین کے ساتھ کیا ہوگا, اس آئین جو اسلامی تصور کیا جاتا ہے اس کے ہوتے ہوئے سوشلزم ایمپلیمنٹ ہو سکتا ہے ؟؟؟( 2)کیا سوشلزم کی ایکنامیک پالیسی کو ایمپلیمنٹ کرنے کیلئے جو سیاسی استحکام کے ضرورت ہوتی ہیں جو ون پارٹی سسٹم میں ممکن ہے ؟ پاکستان میں ہوسکتا ہے؟؟ (3) پاکستان میں اسٹیبلشمنٹ سپورٹ کے بغیر اپکی پارٹی اکثریت میں آ سکتی ہے ؟؟ اگر آ بھی جائے تو عالمی اسٹیبلشمنٹ کا ذیلی ادارہ پاکستان میں ہمیشہ ان ہی کے خدمت کرتے چلے آ رہے ہیں (یعنی ہماری فوج) کو لگام ڈال سکے گا ؟؟ (4) اگر سوشلزم ایمپلیمنٹ کرنے کیلئے سیکولرازم ملک میں لازمی (خاصکر آئین) تو اپ مزہبی لوگ کیسے مطمئین کرینگے ؟؟(5) آپ سوشلزم کا کونسا ماڈل پاکستان میں ایمپلیمنٹ کرنا کرینگے ؟؟ کیوبہ, روس, ویتنام یا چائینہ, ان ممالک کا ایکنامک پالیسی بھی ایک دوسرے سے مختلف ہے چائینہ کے بارے میں کہا جاتا ہے کہ پولیٹیکل کمیونسٹ اور ایکنامیکلی اب لیبرل ہو چکا ہے ؟؟؟(6) اگر اج آپ لوگ اکثریت میں آجائے اور سسٹم کو کیپٹلزم سے سوشلزم پہ کنورٹ کرینگے تو پاکستان مسائل کا شکار نہیں ہوگا آئی ایم ایف کے غلامی سے نجات کیسے حاصل ہوگا اتنے قرضوں کے باوجود ؟؟( سرجی اس پر ایک ویلاگ بنائیں)

[@Taimur_Laal]

Lots of good questions. I’ll answer in videos.

[@zahidkalam2147]

Thank you sir 🙏

[@Seeker89]

@@zahidkalam2147 beautiful questions :)

[@Qanwaz100]

Appreciate that!

[@theknowledgedragon4837]

Yar bahi tumaray question achay lakin ek request hai sari foj ko bura mat kaho usi foj k banday hamri hifazat k liye shamali wajitstan ,Loc per shadate de rahe hai jab k yeah log itni tunkhwa hi nahi late hun aap foji high officers ko tanqeed ka nishna banay plz puray idaray ko tunqeed ka nishana na banaye kio k pakistan ka well discipline idara hai foj hai is liye humay foj se nahi foji high officers ki soch badli hai-thank you

[@syedkhalid9473]

Amazing intellectual Lots of love from Kashmir india

[@dann5480]

Be ti chus kasheeri pyeth. Tueh kati chiv rozan?

[@GoIntoThis]

Indian occupied kashmir

[@rutariq]

Thanks Dr sahib! It looks like you're reading my mind and you make a video on the topic :-) (like this .. and previously when you spoke about Zakat

[@ahmadkhatib6617]

kzbin.info/www/bejne/gHfJcq2XfcR4bKM

[@chahmed9917]

Wonderful lecture.learned a lot. observing some of comments made me realize that peoples are so sensitive to Islamic talks even. They just cant accept anything which is out of Islamic boundaries. thank you so much for this profound knowledge

[@Fundamental_Islam.]

Ok let’s see: Usury/interest unlawful (Quran 2:275) Fiat currency unlawful (Quran 7:85) Fixing prices unlawful (Sunan Abi Dawud 3451) Gambling/speculation ( Quran 5:90-91) Centralised Zakat welfare system (Sahih al-Bukhari 1399, 1400) Modern banking practice of using others money to earn sood unlawful (amanat me khiyanat aur sood) Selling thing you don’t posses like banks unlawful (Ahmed, 15399; al-Nasaa’i, 4613) Justice and moral dealing (message of the whole religion)!!! If this isn’t system then what is it?

[@shahzebkhanpu]

It can be called a techno-reductionist explanation of economics. This is by the way the downside of looking at things materialistically. Besides, had islamic economic system been a 'utopia', how did it enable multiple peoples in varying locales for over a millennium. it's not a static system, rather it has adapted itself according to the changing geographies and human locales. it should base on four principles: equal access to economic opportunities; regulation of income disparities; prohibiton on amassment of wealth/gold etc; on ajnaas; and just balance between capital and labour. despite the natural disparity between the desired and actual outcomes, by and large, societies that were governed on these islamic principles have actually fared better than those governed by other systems. for example, look at the societies of south asia (and yes under the Mughals too), north-west africa, and al-andalus representing three different continents. all these societies have collectively prospered and the lay persons were more prosperous (as many have proven, irfan habib, tara Chand in case of india) than their counterparts much later during colonial period. also, because capitalism had not been invented by then and hence there were greater chances of the trickle down of resources in the wake of meagre resources that were required by the ordinary masses to sustain their lives. all these years fuqaha and rulers kept altering their decision making and adjusted according to the needs of the common populace. it's so astonishing that a person of your intellectual calibre, dear professor, thinks that 'islamic system of economics' was a closed static system which didn't have any hermeneutic principles which informed the economic decisions of successive rulers in the islamicate. and perhaps this is the biggest problem of marxism, that it alienates people from their own past for a greater degree of engagement with eurocentric conceptions. that's why walter mignolo says that capitalism and communism are two sides of western imperialism. although the list would be very long, but i'd like to share a few works that might help the honourable professor diversify his perspectives and might enable him to sometimes overcome his ideological and eurocentric biases: Restating Orientalism: A Critique of Modern Knowledge by Wael Hallaq The Darker Side of Western Modernity by Walter Mignolo Science and Civilization in Islam by Syed Hoossein Nasar Jim Alkhalili's BBC4 Documentary on Science and Islam or his book on House of Wisdom Imam Abu Yousaf's Kitab ul Khiraaj (8th Century CE) Hujjatullah il Baligha by Shah Waliullah, Mabhas e Soam on Irtifaqat (you may also access this via Marcia Hermansen's translation The Conclusive Argument from God) Maulana Hifzurehman Seharwi's Islam Ka Iqtisadi Nizam. (How doing a programme by engaging or offering a critique of this text?) You are doing a great service by offering your public pedagogy, but please try to also sometimes deal with paradigmatic and epistemological politics as well. As Mignolo says: I am "where" I think. So it's really very hard to import Marxism (in its various versions) to Pakistan without engaging with the deep pasts of our region. But thanks a lot for your valuable contributions and for the opportunity to engage on these matters.

[@huzefahabib2070]

Excellent.

[@parjanyashukla176]

Complete nonsense. Under the Mughal rule (considering only the period between Akbar - Aurangzeb), taxes on agricultural produce were upto 90% of the total produce, which did not go above 50% in the Hindu-Buddhist period prior to that. Besides that, - Mughal Central administration had no well-established famine/calamity relief measures, which were put in place by Hindu rulers only prior to that. Famines that were commonplace during the British rule had already started during the Mughal period. - Mughal shehzadas used surplus produce only for the sake of inter-fraternal warfare by creating alliances against each other as Mughals had no law of succession. This wasted the country's resources. - Individual rulers might have attempted upgrading irrigation, but nothing significant happened eventually - Mughals were interested only in dance and music, hunting and liquor. They did not establish a single university for any kind of intellectual development of the society. - By the time of Aurangzeb, due to his religious fanatacism, Sikhs, Rajputs and Marathas, all had started carving out their own states.

[@ZafarIqbal-js1uu]

Again with all due respect, as far your emphasis on technology, I have a question. Should the invention of birth control techniques render the institution of marriage and family as obsolete? Lot of confusion in your lecture. And then the same tranlates in your understanding of the Islamic Economics Project.

[@pankaja7974]

there will always be confusion when you try to reconcile 21st century internet economy with 7th century arabia economy.

[@ahmadebad3903]

Sir Please start uploading these lectures in audio as podcasts. Audio podcasts are much easier to listen to while on the go, or during a walk, etc! Or even while taking notes. It'll be a great help.

[@ehsanreporter]

Yes

[@omairzamir1246]

Islam provies the fundamentals of economic system that can fit in any Era of live. They are not stuck to ancient times. You can study "Islam ka Iqtisadi Nizam" by Molana Hifzurehman Siwharwi for better understading of Islamic Princle and Comparision between Socialism and Capitalism

[@mughal1501]

maulana hifzur rehman mere parnana hain. i was just scrolling and found this comment.

[@sirajuddin1058]

MashaAllah dr. Sahib Aap azim scholar hain. Allah pak Aako umri daraz sihato aafiyat ata farmaay. Asan alfaz main zabardast lecture tha.

[@talhaahmedkhan2832]

From your discussion, some things are lacking. I am not so knowledgeable in this field but my point of view is that as Muslims we are required to follow Islamic moral values, which means we must devise a modern economic system that must not coincide with Islamic moral values. e.g. interest rates. Need is what should be determined to apply basic Islamic values in devising a modern economic system. We can further extend and research about your discussion but should not come to conclusions with negations.

[@mychannel-wv4bo]

مزہ آیا ۔ ایسا چینل اردو زبان میں فراھم کر کے آپ نے واقعی احسان کیا ہے سر ۔۔

[@BookBuddyOfficial]

It's great to hear you Dr. Taimur...let's have a discourse someday...

[@TalhahAamir]

Amazingly explained! One argument which I want to put forward is that, Islam tells us about morals in every aspect of life thus Islam also tells us about economic morals. For example Islam Ordained about zakat, Prohibition of Interest, Prohibition of hoarding and so on, so these are morals and these morals can be alligned with any modern technological system, so Islam doesn't ordained us to duplicate any system of particular era but Ordained us to implement those principles in whatever the technology of present time. So it's more about morals , same is about political system.

[@drisrar2993]

Islam Doesn't oppose any political Or economic system rather stands as an checker on these systems that these systems don't exploit people.

[@apuapustaja1]

Unfortunately modern capitalism or corporatism to be more correct is outright against Islam. You can still mold communism or socialism to be inline with Islam considerably by limiting the ownership of property rather than a draconian state control (which as seen during soviet and pre-deng xiaoping era china only benefited the political elite).

[@Rizwan-Ali]

the full video fails to tell what is Islamic Economic System? why don't tell what is Islamic Economic System and let the viewers decide how much it is applicable or not??

[@Learn_Programming_Fundamentals]

Talking about Islamic Economic system and asking how much it is applicable, is it even a question?

[@USAAMAW]

IJTEHAD, i think is the solution for modern problems and technological advancements. But it also needs brains who are well aware of Islamic perspective as well as modern world so they can take decisions which are beneficial in this world and here after. For instance, Cryptocurrency halal or not? I don't think that Ulemas have made any decisions yet.

[@modasirhussain5253]

This is the only way and islamic teachings encourage umma to formulate their matters according to the contemporary muslims. We should refer to the real islam not the anarchic powers in the name of islam.

[@xoxo49999]

Dr asad zaman work is quite reflective

[@mehwishm736]

Thank you for taking out the time to share your knowledge with us in such an easy to understand way.

[@jawaharlalsingh1250]

Very informative and thought provoking. I regularly watch your videos but some Urdu words make them difficult to comprehend. Please give English or Hindi alternative if possible.Thanks a lot for promoting progressive ideas in Indian subcontinent.

[@Abdullah-uv9nk]

No, learn Urdu

[@PS-ej2xn]

@@Abdullah-uv9nk Better yet, Arabic. How can anyone really understand Allah's teaching to mankind without mastering Arabic? In India Jawaharlal Nehru had said that if he could teach Indian future generations one perfect language, it would be Arabic. But BJP did not let Nehru succeed.

[@parjanyashukla176]

​​@@PS-ej2xn Nehru was secretly a Muslim according to some researchers, so it is not surprising. And BJP didn't even exist during Nehru's time. Moreover, Hindus would love to learn Arabic from Pakistanis. For that, Pakistan will have to become an exemplar state by adopting Arabic in its school and university curriculum.

[@parjanyashukla176]

​@@Abdullah-uv9nk Urdu and Hindi are one and the same language, with two different literary styles due to historical reasons.

[@muhammadahmad96]

Enjoyed every single bit of this lecture. I categorize your lectures in the following manner: 1. Dr Saab's Lectures to be watched once 2. Dr Saab's Lectures to be watched twice 3. Dr Saab's Lectures to be watched thrice Looks like I'll have to watch this video two more times for such thought stimulating ideas to finally settle in my brain. Thank you for sharing such informative stuff with the world,

[@HarisA1i]

Islam ki yhi sab se brri beauty ha k iska koi specific Govt & economic system nhi... Time k sath system or khud ko evolve krna chye.. Good sir..

[@TheProfessor1997]

Thank you sir! And Kindly address Islamic political system and its assimilation with today's democracy.

[@mohammeddanish7581]

You just explained economic history in a concise manner, and its compatibility across different ages. Very less information about islamic economic system

[@studywithme3858]

Exactly

[@Walid-Sahab]

Sir What about Marxism/Communism ? Isn't it connected with technology?

[@TariqMehmood-nz6jp]

Very well done Professor Sb, you are great. Love the depth and simplicity of your explanations..

[@ZafarIqbal-js1uu]

Sir, please do not drown us in a sea of confusion. Once you define what is an Economic System, would you stop there and advise us on what is the Islamic classical stance on all these attributes of an economic system as you define it.

[@maju1946]

Very well explained. You make complicated things easier to understand. Zabardast

[@Qanwaz100]

Lecture and comments are both thought provoking!

[@samansqureshi1927]

Sir plz plz plz political science k topics pr aor mazed videos bnaye

[@arshangurmani6873]

Enjoyed every minute of this lecture.

[@drkabir5073]

It’s a very good talk. But you didn’t elaborate the actual change that Islam brought in the then existing economic system on real ethical grounds. That was a real basis of revolution that created an acceptance of the older putrid system working on the inequality and brutality. Islam always provided a logical and acceptable form of the existing system and opened spaces of human development.

[@InspiredInfo]

Political science سبجیکٹ سے اسلامیات کی درس آپ کیسے پڑھا سکتے ہیں

[@KamranSafa143]

اسلام معاشی نظام کے حوالے سے بنیادی اصول دیتا ہے، اسی طرح کیپیٹلزم اور سوشلزم بھی معیشت سے متعلق بنیادی صول فراہم کرتے ہیں۔ اسلام کے دیے گئے بنیادی معاشی اصول، کیپیٹلزم اور سوشلزم کے دیے گئے بنیادی معاشی اصولوں سے مختلف ہیں۔

[@umer4465]

sir one question, in describing the human relationship with the economy, the whole focus here is on the middle east and Europe, what was happening in China, Far East, and Japan.

[@vinamrasinghai2339]

Those were the richest economies of their time. They didn't have the concept of slavery. Subcontinent worked with the idea of Jati whereas others worked with the idea of Jati. They had a class of people called Dalits to take care of the lowest of low jobs. Indians only used to trade in Gold, so were rich and they were based on the ideas of people and the idea of transactions. They didn't believe in intellectual property rights. kzbin.info/www/bejne/p5umc2isqKlkebc

[@Lily-tr9pn]

Nice talk just want to ask regarding your talk around 32:00 : why Afghans, who had no latest technology in warfare, were able to kick out Britain, Russia and USA?

[@kashifsubhani1187]

I will add my thought process on this video. Once the Holy Prophet(S.A.W) was sitting with Hazrat Jibraeel (A.S). Hazrat Jibraeel(A.S) went white. The Holy Prophet(S.A.W) saw an angel approach him. The angel asked him a question from Allah! Do you want to be a Prophet of Wealth or a poor Prophet? The Holy Prophet(S.A.W) looked at Hazrat Jibrael(A.S) he gestured dont ask for wealth. So the Holy Prophet (S.A.W) asked for poverty. The Holy Prophet(S.A.W) asked Hazrat Jibrael(A.S) why did you go white? He replied the angel who came down was Hazrat Israfel (A.S), his mouth has been glued to the trumpet which will be blown at the end of time. This is the first time he has moved from that position. Its shows the importance of the Holy Prophet(S.A.W), but also the importance of the question. When Allah created Hazrat Adam(A.S) the angels expected humans to fight one another like the Jinn before us. Allah expected better from us as we are Ashraful Makhlukat. He knows we will work out a better system. We are Allah's Ferrari, you expect it to perform. Now whether we want to strive(Jehad) or go 5mph its upto us. But Allah has full expectation that He has given us the ability to do better and be better. Wealth is all Allah's if we use the least possible and share the maximum, or use maximum and share minimum its upto us. But we all know what will make Allah proud, like all parents He is waiting for us to make Him proud infront of all beings!!

[@musicaty]

What a well written comment! Thanks for writing

[@greathalls5065]

you are doing a phenomenal job. thank you

[@muhammedsohail5282]

The basis of Islamic Economic System is prohibition of “Ribah”(interest)….If we only apply this rule on any economic system in the world as a whole,things would be changed,BTW it is agreed in whole world that interest is killer and root cause of failure of any economic system…. I think you’ve not studied deeply and thoroughly the Islamic economic system as there is not depicted the application of whole ancient economic system to implement in any era of times,but there is also provision of “Ijtehad” according to contemporary world as time passes.. In my opinion in-spite of rejecting or objecting the whole system,you must put light on pros and cons of any system so that we could draw conclusions from discussion… By the way this was the great lecture on historical and anthropological aspects of world political and economic system…Respect

[@szuberi]

What are your qualifications to suggest that Interest should be abolished and all problems of the world will go away? Do you have a tested theory in the islamic world or anywhere else for that matter, where an interest free system benefited the society as intended? How will you grow capital under a central bank driven monetary system where there is no interest or cost of capital?

[@yahyamahbub7184]

Yeah I am a student of Economics&Accounting one things i knew that most of the so called Economist don't know how islamic economy work they just know fundamental but not how fundamental will go and make new law on the basis of its fundamental and flexibility. Its Mean they don't know how to deal with new challenge on basis of fundamental. Cause most of them learned from western capitalist institute and so they started argument with one that capitalism or socialism is best now compare.

[@muhammedsohail5282]

@Believer Reality why saudis give 100 billion to Pak?

[@apuapustaja1]

@@szuberi unfortunately not even one state works on interest free principles posed by islamic economic system. Even so called sharia based states like iran and saudi arabia have a lot of elements in their economy that are tied to interest based lending.

[@szuberi]

@@apuapustaja1 that is because there is no monetary system out there other than the one we use everyday. Interest is the cost of capital and all these so called internet economists making bogus claims that there exists a possibility to grow money without the cost of interest attached to it. There is no islamic economic system as claimed. It is totally Utopian.

[@afnan_a]

Why you don't debate with Qaisar Ahmad Raja ? He always proves your research wrong by saying that you are againt Islam. I think you must prove yourself right by doing discussion with Him.

[@huzefahabib2070]

Excellent discussion. But we have to understand about the philosophy of islamic teachings. Acc to my understanding, we can divide the teachings/ruling of islam in two main groups. First, group consists of those teachings that are constant for 1400 years, for eg. Number of prayers, Hajj, Zakat, etc. And the second group has those teachings that are mosifiable we call it ijtihaad. For eg slavery that was prevalent in the Prophet' SAWW era is now obsolete. So, economic system of islam is kore related to the second group. In which we have certain rulings about how trade should be done, who should possess private property, what should be under state property. Etc etc.( Ofcourse I m not mujtahid, but I believe if we use these certain teachings, do intihad in current scenario, and make a economic system according to teachings of islam, it would be a mixture of both capitalism and socialism/communism.

[@modasirhussain5253]

Exactly.... Some people and teachers are confused themselves and transfer their confusion to others by using jargons and highfrequency words. Your comment is insightful🌹❤🌹

[@whiteholeeducationcenter]

I see lslamic economic system as a mix of sociolist and Capitalistic system

[@vinamrasinghai2339]

Nope, there is nothing socialist about Islam. Your wife and children are not going to be everyone's wife and children.

[@whiteholeeducationcenter]

@@vinamrasinghai2339 I am saying about economic system. Islamic economic system is based on trust and truthfulness and non usury contracts. Like if you made a car 🚗 in a factory then it's responsibility of that factory owner is to tell about the quality of that truthfully without any cheating.

[@panwarg6156]

Respected sir, kindly explain the composition of economic structure of umaid and abbasid caliphate.

[@Aliphbay]

is it possible to have a short discussion on this with you? I would like to pilot/simulate the theory in a virtual financial environment with 50-100 families. how to approach you. Thanks! Great Lecture

[@AbdulJabbar-vv6hr]

you should email him, he always reply to emails

[@mahtabhailian]

I was expecting core references and discussion about the period of Prophet Muhammad (PBUH) and Khulafa Rashdeen.. But less than 1 minute given to this period. So, more relevant debate is required. Though, you have tried to make a point of changing the law through Ijmaaa , which is allowed but obviously there is a limit to this e.g. no Ijmaa can legalize the Ribba in any of it's form because Muhakmaat are clearly defined in Quran and Hadees. So, if the latest technology is bound to implement Ribba in it's modernize form then Islamic system will go against it.

[@muhammadrafiq2722]

Assalam u alaikum sir Sir I am from Lahore and I am a student of philosophy and now I want to learn from you

[@rymaustudio5683]

A man and his love can change the world 🌍. Thanks for your contribution

[@Rajputwarrior_7]

Salam sir , I'm just a student of knowledge and history, I've seen many vedios and explained things about history, but I really admire you how you explain all the economic system to us but you have to go further more aspects of Islamic history ecos, because the last part is very short , you have to explain us in detail thanks 💪🇵🇰

[@Fareed-iw2es]

Ap ne bhot acha lecturer dia he

[@jd3358]

You upload very informative videos but this video didn’t quite provide the accurate knowledge of the topic. It was a good video about the history of economic system but analysis of the Islamic economic system wasn’t in appropriate details or academically sound, the very vital point of the prohibition of RIBA or Interest in the Islamic system wasn’t mentioned either. With all due respect sir, your knowledge or research of the islamic economic system seems biased possibly due to your favor of socialism?

[@Taimur_Laal]

Samjhay hi nahin keh main nay kaha kya hai. Missed the whole thesis I have advanced.

[@Qanwaz100]

@@Taimur_Laal Islamic laws must be modernized with modernized technology...! But Sir plz clear that is it possible to amend Islamic laws w.r.t. Divine guidance?

[@jd3358]

@@Taimur_Laal According to your thesis, technology of production and economic system have to be contemporaneous and they evolve together, as the evolution of human society suggests. Thus, since Islamic economic system is from another time in the history, it can’t be compatible with the current socioeconomic system. To me this conclusion seems very hasty and unacademic. Without a deeper understanding of the IES , it’s long term effects on the society and it’s moral and spiritual dimensions one can’t jump to the conclusion stated in this video.

[@hashimawan2433]

@@Taimur_Laal Your name Taimur is based upon a Butcher who killed Thousands of women and children, who were mostly Muslims !!!!!!!!

[@Taimur_Laal]

@@hashimawan2433 I've come to atone for his sins.

[@motivational_official]

sir u have great knowledge about economics hum khn se itni knowledge gain kren aap btaskt hn ?

[@AbdulAhad_633]

Thank you sir.. ap sy kaisy mil sakty hy sir 🤔🤔

[@Taimur_Laal]

Online is easiest.

[@AbdulAhad_633]

@@Taimur_Laal yes sir I have seen almost all of your videos .. can we meet in lahore .. Sir I am interested in political Economy kindly suggest me some books .. and in am Economics student in Lahore

[@arain1234]

Very informative lecture, but I think you failed to consider two most important aspects of an "Islamic" economic system, zakat and interest (or lack of it). No one has seriously studied the impact of these two simple measures on a modern capitalistic economy. Zakat is essentially a "net worth" tax with conditions on how the money can be spent. This tax can be imposed any any modern society. By benefitting the lowest levels of society, you would get improved social conditions and a healthy economy due to forced circulation of wealth through the most needy of society. The impact of banning interest are more difficult to predict. Interest is at the core of the modern financial system and is thought to be essential to raising capital for modern economic enterprise. There is no question that economic development would slow down if interest were not allowed, but is that a bad thing?

[@hashimawan2433]

He's a Communist! Probably from the Ahmedi Community!!!!!

[@hashimawan2433]

Lenin said: “Destruction of three quarters of the world is nothing; what matters is that the remaining quarter become communist.” This is communism Total KUFRRR

[@apurpose8614]

Taimur should have talked about these things(Islamic Economic Principles). Once these principles are followed, we would call that system an Islamic Economic System and these are applicable regardless of technology basis,form of properties etc. Similarities of IES with Capitalism (1) Private property ( you can own houses,businesses etc) In communism everything is considered as state,public property (2) Personal Incentives ( If you work more, you can earn more, there are profits and losses). In communism it's a fixed salary based on your needs no matter you work more or less because everything is state owned (3) Free Economy ( Demand and Supply Rule) No controlling (4) Hire and Fire Rule( you can fire a employee whose not working upto expectations and hire a better person) In communism people are state employees Due to these things Capitalism defeated Communism because there was competition, hence more production, better quality products,more advancement Islam has these four principles. Implemented in the time of Prophet (saw) and Khulfa e Rashideen (ra) But one big disadvantage of Capitalism is that due to these principles causing competition there will be some people who will succeed, grow and will become wealthier while some will be left behind and will become poor( Because capabilities and Circumstances are not same). Have and Have Nots In communism this doesn't occur (and that's the advantage it has over Capitalism) because of fixed salaries, not much Competition To cater this Islam provides solution through Zakat System. The wealthy people give the portion of there savings( not income) and capital ( The money or property which an investor invests in a profit-seeking venture) every year to poor. Forced Circulation of Wealth bridges the Gap between Rich and Poor Completely opposite to Interest based economics which causes wealth concentration( few people get rich rest suffer poverty) Few things are Forbidden such as Riba(interest), Gambling, Hoarding, Frauds, Cheating, business of alcohol, pork, Drugs, Adultry, obscenity etc. All of these things have bad effects on social level Things such as Taxes ( only direct Tax not indirect taxes that we have on almost every thing we buy) can be Implemented or not. Its upto Muslim Leadership of that time, but the decision would based on welfare of Public and Islamic system This is Islamic Economic System. It can be Implemented even in today's Modern world. It is the best System having goods of both Capitalism and Communism

[@azamcangame5253]

@@apurpose8614 Jazak Allah Dost, A seemingly complex topic explained in a brilliant and profound way MashaAllah

[@MuhammadTahir-ii6mj]

@@apurpose8614 zaberdast g

[@ManaFgs]

sir, would u please shorten ur lectures or at-least keep bookmarks so that we can skip? u r such a great prof but i am always in a hurry to study main Qs :(

[@m.arshad9850]

sir nizam e rabubeit study kryin allama ghalam ahmed pervaiz ki

[@junaidmughal721]

Is sari evolution mein Hazrat Adam A.S kb bhjy gy?

[@Fundamental_Islam.]

Y chromosome Adam ka naam kabhi suna ha?

[@kazimustaqeem]

Mashallah, very good lecture. Thank you for this lecture.

[@aynray]

Dr Sahab have you read the book “Our Economics” by Baqir Sadr?

[@bhitai]

For Dr Sahib's review: www.al-islam.org/iqtisaduna-our-economics-volume-1-part-1-sayyid-muhammad-baqir-al-sadr/chapter-1-marxism-theory#single-factor-theories

[@shanijaved]

Excellent talk. In my opinion, the basic principle that Islam preaches is an interest-free economic system.

[@AsimKhan326]

aoa quiet an informative lecture for me . I was wondering you didnt give any example of "universal laws" you mentioned in last segment of your lecture (which might need some correction) and if I missed it please let me know

[@salmanlahori6416]

Dr Sahab mardana kamzori ke lye koi nuskha bta dein

[@SerenityScribbles261]

29:00 I think ethics which you mentioned is the bases for Islamic economic system is still as much relevant as before. Like "Dr. Taimur Rahman" is struggling against "Capitalism" is truly what "ethics" are.

[@Rizwan-Ali]

This is so amazing.. wonderful to hear you.

[@panwarg6156]

Respected sir, I think that selection of rashidun caliphate was some how near to democratic system. What is ur opinion?

[@crumpfyllc5571]

my opinion is almost same

[@altafqureshi1154]

He is knowledgeable but bias with the opinion He says without the advent of daily news democracy would not came into being Now there is no democracy in china Russia uae saudi Oman Qatar Bahrain but will find daily news in these countries so according to him there should be multiparty and vibrant electoral process and system

[@tankseverywhere1492]

You're stupid if you believe there's no "Democracy" in China, Russia. Even Bahrain does have a parliamentary democratic system like the Russian parliamentary democratic system. Tho Bahrain is still a constitutional monarchy. While China, being a Socialist country practices Peoples' Democracy, which indeed is a Democracy where people have the right to lead above Capital in contrary to parliamentary system of the capitalist ruling class.

[@Sean-uv9vc]

Great info shared by you Dr Taimur. Awesome 🤩

[@info_how]

Economic history elaborated in smooth way....learning way

[@shahdanyal7542]

A nice way to inform and explain the evolving of the historical thought and the economics thought in modern times. In your comments that IT industry made homes as work place and it is true. However can we add that the home based industry before the pre industrial revolution times already existed. The home base production were crafts processing such as tailoring clothes, shoemaking, the spindle and looms , carpentering. These, I witness in my home town when I was a boy.

[@f118g]

What is your opinion about Ghulam Ahmad Parvez on the political and economic system of Islam. He probably propagated Salat as the political system and Zakat as an economic system.

[@tufelmirani467]

Thank you very much taimur bhai for beautiful explanation of islamic economic system tufel mirani🙂

[@bahauddinagha2425]

آپ کے پاس مواد نھیں تھا اس لئے پوری ویڈیو میں ادھر ادھر کی باتیں کیں۔ حضرت عمر رض کی طرح کا احتساب پاکستان میں لاگو کرو ملک خوشحال ھو جائے گا

[@AdnanAli-mr4yz]

Respected Sir. During many discussions with my colleagues and students when they talk about the Islamic economic system they refer to the time of the Muhammad SAW and Four Caliph, not to the Abbasid or Umayyad dynasties' time frame can you kindly clarify which kind of economic system was there at the time of Muhammad SAW and the Four caliphs was it astatic economic system or ancient society antiquity economic system or some unique Islamic Economic system. Secondly what type of economic system was discussed by Ibn Khaldoon and how he answered the central economic problem?

[@naveedahmad-ku9ti]

Amazing Lecture Enjoy it Thanks

[@shahnawazAhmedshaqeeb]

It would be better if you could explain it with a few examples of how the Islamic economic system cannot fit in the modern world with its modern technological base. If certain core values and principles are fixed, you can make any law or rule in accordance with those values and principles while also keeping in mind the changed circumstances, and this is very simple to understand. Then where is the problem?

[@Taimur_Laal]

"Values" belong to the field of ethics. Not economics. The economic system in the period of Islam was based on the Asiatic mode of production. That mode of production is suited to ancient times. Today's world has advanced to capitalism. You cannot bring back the Asiatic mode of production without destroying economic progress. From capitalism, you can only move further to socialism.

[@shahnawazAhmedshaqeeb]

​@@Taimur_Laal How islamic economic system solves economic problems kzbin.info/www/bejne/gHfJcq2XfcR4bKMsi=wb1xrTE-_UM6rn43

[@shahnawazAhmedshaqeeb]

​@@Taimur_Laal How islamic economic system solves economic problems? kzbin.info/www/bejne/gHfJcq2XfcR4bKMsi=wb1xrTE-_UM6rn43

[@shahfaisalkhan5751]

Aap ko Islamic economic system par BAAT Karni chahiyai,na ke idar udar ki batien,end mein ja k sirf aik ke ye samaj aya keIslamic economic system farsuda hai,aur Aaj k daur mein chal Nahi Sakta,ye to batyai hi Nahi ke Islamic economic system hai Kia,isk Elewa ejtehaad k zarayai say Islamic economic system mein tabdilyai ki ja Sakti hai,aur Aaj k daur k mutabiq Kia ja Sakta hai.is topics k baray mein buhut Kam jantay hai,is liyai is par BAAT Nahi Karni chahiyai thi,pehlay is par books partay,khaas Kar k Islamic economic system par.

[@Mukhtar_Ali]

Such an insightful and enlightening talk. Thank you.

[@muhammadhanifanjum6463]

Sir, Regime change par kisi kism ki koi lab kushai ni farmaiyan gayyy?????????????

[@aliazmat7665]

Thank you for discarding the myth that Islamic economic system is panacea for all ills. Being an academic, you are truly fulfilling your responsibility of educating people and bridging the gap between academia and political sphere. Even though I disagree with you on your belief in Stalinism and Leninism, I believe that you are treasure for our intellectually bankrupt academic landscape.

[@taqoastudio557]

Dear Taimur, have you been through " IQTESADUNA" of Baqir us Sadr from Iraq on critics of rest of economic system and also on Islamic Eco System. I need your review about that.. thanks

[@shahkhan110]

Good and informative lecture sir... but it was more of a economic history lecture rather than Islamic economic system. From your conclusion, it seems that Islam prohibits the use of technology/modernity in economics. If that's the case, I think you should come up with part II, where you can explain how unfit are the Islamic economic regulations (Zakat, Interest, deceased will etc.) with current economic paradigm? regards

[@DeveloperJunaid]

Assalam o Alaikum, It’s astonishing how you’ve discussed the whole history of Systems without discussing God’s Role in it. In the end, you suddenly placed your confused argument about the Islamic Economic System. 🛑 Allah has sent 1 lac 24 thousand Prophets from the birth of Adam (A.S), and they all have guided people about how to live, survive and prosper in this world and the hereafter. Even the Christians, Jews, and also one of the oldest religious people, Hindus, believe in this, that prophets were guiding them about their whole “SYSTEM” according to the will of God, and here you are saying that there was no “Economic System” before 19th Century lol. You said Usmanian Caliphate used Gunpowder to revolutionize the “SYSTEM.” Yes, I agree unless you don’t contradict Allah’s commands. But if you look at the current capitalist system, it contradicts Islam in many ways, and you all are in regret now because of that. Interest, homosexuality, bribery, lies, not giving punishments for crimes, feminism, liberalism, atheism, satanism, democracy (people making laws instead of Allah), and many more ... cause the disturbance that you currently have in the world. Allah never said that do not change strategies or not do inventions, innovations, and progressions in science, and technology and make this world a better place. There’s a hadith: --- Abu Huraira reported: The Messenger of Allah, peace and blessings be upon him, said, “The word of wisdom is the lost property of the believer. Wherever he finds it, he is most deserving of it.” Source: Sunan al-Tirmidhī 2687 --- The most remarkable example we (Muslims) have is of Muhammad bin Abdullah (Peace be upon him) about how he revolutionized the way makkans or Arabs lived. You all know how terrible it was! But He (Peace be upon him) guided and saved everyone through the guidance of Allah, and now you have the golden history of Muslims when they ran the “SYSTEM” based on Allah’s commandments. The western people (that you are praising so much) used to come to live under the Caliphate to gain knowledge about Islam, Science, Technology, and the “ECONOMIC SYSTEM.” They were so happy that they lived under Allah’s System so peacefully! The slavery you’re talking about is unlike the slavery that the West did (they did butchery). They freed enslaved people, married enslaved people, fed enslaved people, taught enslaved people, and their slaves would insist on staying their slaves because they were so good to them. No form of oppression was accepted! The Organization and departments for management of the SYSTEM that you have, were established and introduced by “Umar Ibn Al-Khattab (R.A).” He instructed Police, governors, Generals, Managers, Finance Ministers, and many other departments. This tells us that as long as your strategy and methods don’t contradict Allah’s directions and commandments, you can implement and establish them. And it’s funny how you’re testing Islam’s Economic System on the number 1s and number 2s of your ideals 😂 They were still in their dark ages when Islam was Flourishing and saving them from that. Don’t push your Agenda of the New World Order here! We know your tricks to confuse and Misguide the youth by sounding Intellectual! I would say to all Muslims to stay confident in their Deen and learn their Deen to answer these Fake Intellectuals with knowledge and Allah’s guidance. BarakAllah 🙌

[@saifur.rahmankhan]

Asalam o Alaikum , Dear Taimur, by listening to your lecture and witnessing the respectful manner in which you present the loopholes of the system created by the clergy in Islam, it is evident that your knowledge serves as living proof of the harmful consequences of having clergy in Islam instead of relying solely on the Book of Allah as guidance. With that being said, I sincerely appreciate everything - your efforts and the knowledge you share. 1. To truly understand a concept within its proper context, the idea itself holds great importance. However, to genuinely grasp its essence, it becomes even more crucial to build a comprehensive approach that utilizes the content provided by the concept. 2. Policies, as well as the recipes of chemistry and mathematics, are subject to enhancement, change, or even abandonment over time and with advances in technology. However, the fundamental idea of directing ultimate benefits towards sustaining the interconnected ecosystem of all life remains essential to comprehend. Although my knowledge is limited, I am hopeful that I can gain better understanding of what I have just expressed once we have the opportunity to meet in person. If you are interested in engaging in a conversation with someone who may possess less knowledge but more experience-based wisdom and common sense, I would eagerly welcome further discussion.

[@abhijithchandran3738]

Good video, especially the introduction. Would have been much better if you could analyse the Iranian economy, as it's the only country in the modern era which is mostly Islamic, and ruled directly by the clerics.

[@alifire38]

Great lecture. But you have completely missed out on the "Wilayat system" in shiaite Islam. A system parallel to the 'khilafat system' which belives in the following: 1) Technological advancement (provided all ethical and social values of the society are uphold as per the teachings of islam) 2) Guidance from the one true source- as the system of "Wilayat" directly connects the Holy Prophet (P.B.U.H) untill this very day and beyond in the form of Imam Mehdi (a.s) 3) Accepts and encourages to adapt latest and modern practices of Economics on the basis of equality, justice and social welfare.

[@kashif7934]

Hizbut tehrir walo k sath live debate kren na Mr taimoor ! Fb p debate krte krte kiyu bhag gaye thy HT k bando se?

[@aftabnaveed]

I share the sentiment about ancient Greeks culturally being much closer to the middle east than western societies.

[@ZahidIrfan]

Voice level is low makes it hard to understand

[@advocatehafiznasirmahmood5980]

Very beautiful effort of my dear bro

[@art.boy.artist]

Inventions pe videos banaye ham kise markit me product la sakte hai

[@alisyed2913]

I agree, listening to you free on social media is a treat. 😊

[@Lifecaretopi]

Thank you Dr Saab

[@ubaidbazi1553]

Allama perwez saib say very clearly about Islamic economic system

[@faisalabbasi3703]

Thanks for Educating the nation free of cost ......

[@fidakhan2099]

Sir u explained every phenomenon from marxist viewpoint .....

[@ibraraziz3532]

May I conclude that Islamic Economic System cannot be implemented in present and Future?? Please precious reply

[@imtiaznarration5713]

Sir, you are a very enlightened and realist thinker. As we are very confused like many Muslims who don't find any answer to the lot of contradictions and incompatibility in the technological aspect of Islamic society. As science and technology advanced are we being hindered by its pursuance due to our rigid beliefs. Are we to change our priorities according to the advance scientific and analytical proponents. Can a state run by a system where riba is forbidden then how your trade and business can be done. When you open letter of credit other countries bank will not accept your lc unless a certain interest on the transaction is paid, then what is the solution. Please brief ignorant like us the way to act. God bless You.

[@fatimausman1305]

İslam has some moral rules for economy that can be applied in every time period for example the prohibition of riba and the zakat giving to poor people will not be changed

[@tariqjamil3718]

Informative ❤.