Halal Conception and Other Factors Affecting Income Distribution in Islam

Year 2019, , 1 - 15, 30.11.2019

Sahraman Hadji Latif

https://doi.org/10.25272/ijisef.542534

Cited By: 2

Abstract

This paper examines
and analyses the vital role of halal conception and its impact in mitigating
and reducing the problem of unjust income distribution in our society. It also
further expounds some relevant approaches to different economic systems in
addressing income inequality. Generally, the conception of halal earning is not
only associated with consumptions and devotional acts. Halal, in general, is a
term that encompasses all aspects of lawful and unlawful in Islam including
economic activities. For Muslims, halal earning is not only mandated by the
Almighty God, but it is also indispensable for the acceptance of their
religious acts. In relation to its significance in society, halal conception
has indisputable impacts on the socio-economic problems of our society.
Undeniably, one of the challenging economic issues in our society is the
continuous rising of income inequality where the rich become richer and the
poor become poorer. This unjust income distribution not only widens the
undesirable gap between rich and poor people but also empirically brings
socio-economic predicaments in our society. However, the conception of halal
earnings is of remarkable mechanism can response the issue of unjust income
distribution. Halal earnings can allocate economic resources efficiently and
reduce income inequality in our society. The rising concentration of wealth in
the hands of few rich individuals has something to do with high returns from
proliferation of unlawful professions and economic activities in our society.

Keywords

Halal Conception, İncome Distribution, Earnings

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