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2022 | OriginalPaper | Chapter

1. Wealth Management and Investment: An Islamic Epistemology

Authors : Nasim Shirazi, Othman Altwijry, Toseef Azid, Muhammad Omer Chaudhry

Published in: Wealth Management and Investment in Islamic Settings

Publisher: Springer Nature Singapore

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Abstract

Social scientists raised several questions about the nature of wealth. For example, how we can define wealth, its nature, how one can get it (natural or unnatural way), its impact on man's behavior (good or bad).

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next chapter Decoding Islamic Wealth Management from Qur’anic Texts

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Define by Aristotle, “Natural wealth means: every authentic integral part of nature like plant, fungi, animal, mineral, fossil, water, soil, etc.” (https://www.google.com/search?q=natural+and+unnatural+wealth&rlz=1C1GGRV_enSA844SA845&oq=natural+and+unnatural+wealth&aqs=chrome..69i57.11299j0j4&sourceid=chrome&ie=UTF-8 retrieved on 7th February 2022.).

Define by Aristotle, “ But when a human sustains herself in certain other ways — such as by the accumulation of coinage through trade, speculation, or usury, she is behaving unnaturally.” (https://sniggle.net/TPL/index5.php?entry=30Nov18 retrieved on 7th February 2022).

“Five necessities in Islam are religion, life, intellect, wealth, and honor”.

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Maududi (1972) explains as in Tafheem ul Qur’an, Surah Al Baqrah, Verse 276 “By God's decree, the law of nature is such that interest not only serves as a strain on moral and spiritual well-being, and social and economic growth, it also causes actual regression and decline. Charity, however, (including such acts as lending money to people with the stipulation that they should return it if they can. and at their convenience) leads to the growth and expansion of man's moral and spiritual qualities and to the growth of human society and economy. Looked at from moral and spiritual standpoints, it is evident that interest is not only the outcome of selfishness, miserliness and callousness but also encourages their growth.”

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Title: Wealth Management and Investment: An Islamic Epistemology
Authors: Nasim Shirazi
Othman Altwijry
Toseef Azid
Muhammad Omer Chaudhry
Publisher: Springer Nature Singapore
Book: Wealth Management and Investment in Islamic Settings
Print ISBN: 978-981-19-3685-2

Electronic ISBN: 978-981-19-3686-9

Copyright Year: 2022
DOI: https://doi.org/10.1007/978-981-19-3686-9_1