Most of the world economies today are ‘mixed’ in the sense that the private and public sectors go side by side and reinforce each other. A modern state is supposed to perform the following economic Role:
The life of human is purposeful.Allah has rendered the conditions on earth feasible and best suiting for life. Although man have a choice to spend a life but eventually he must be asked about his life.
Zikah is the right of Poor in society and following are its economic impact on society 1) Income Redistribution 2) Stabilization 3) Development and Growth 4) Welfare Effect and Economic Efficiency
I assert Islam emphasis more on Zakah rather than taxation. Taxation disrupt the right of poor in the society while Zakah impart a steady source of livelihood. some principles are discussed below:
Edhi Foundation, Al-khidmat Foundation, Shaukat Khanum Cancer Hospital, and Ansar Burni Welfare Trust are most popular welfare Organizations in Pakistan.
The central bank is the agency to formulate and implement the monetary policy. The commercial banks are the financial intermediaries between savers and investors as both are supply side of the money market.
The objective of Shariah is to protect the lives of Muslims.1. Faith or Religion (Iman)2. Soul or Life (Nafs)3. Intellect or Mind (Aql)4. Offspring or Posterity (nasl)5. Wealth or Property (Mal)