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Economics & Quran

Islam is a deen which teaches complete code of life, It teach us how to please our Allah and how to lead our life in the way guide by our holy Prophet (PBUH), Allah's Guidance extends into every aspect of our lives. Islam has given detailed regulations in Holy Qur'an for our economic life, which helps us to keep balance among all, it will make possible for all of us to ensure equal distribution of wealth, so it eliminates the chances of envy and hatred among all. Muslims are to recognize that wealth, earnings, and material goods are all belongs to Almighty Allah, and that we are merely His trustees.The principles of Islam aim at establishing a just society wherein everyone will behave responsibly and honestly. The fundamental principles of the Islamic economic system are as follows: Muslims must pay Zakat (alms).   Muslim who are wealthy, earn more than a certain amount to fulfill their needs, must have to pay a fixed rate of Zakat to those who are unable to affor...

Islam & Economics

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Islamic economics make allusion of a economic system that based on Islamic scripture and traditions followed by our Prophets and Caliphs. The main features of an Islamic economic system are based on "behavioral norms and moral foundations" which is derived from the Quran and Sunnah,  Zakat tax for Muslims and jizya for non-Muslims as the basis of Islamic fiscal policy and prohibition of Riba(Interest). Islamic economic system always wants to ensure the equal distribution of wealth among all, its an ultimate goal of this economic system to reduce the gap between the rich and the poor, Islam always encourages trade, and Its one of the greatest sin in Islam for the people who are involving in the hoarding of wealth and those who deals in interest (riba). In Islamic economic wealthy people are taxed through zakat, but you do not have to pay taxes for your trade. Hoarding of food and waiting for the rates to go up, is also discouraged grabbing someone's without having a...

Telecommute at home instead of Workplace

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Now a days every 3rd person out of 5 have to stay back at office due to the burden they have at work place as compare to the official hours of the workplace, In every office there are some employee's who play key role for their bosses or they are backbone of their organization, so they are supposed to be stay back at the office and have to work from their own turf , but if you are telecommuter, you are lucky because there are many workers across the globe who telecommutes from outside the workplace, many of them from the comfort of their own homes or from their personal businesses. If you are not allowed you can talk to your boss about the recent Standford University Research he must gives you a permission to stay at home or where ever you feels better and telecommutes. It gives us perception that the organization allowing telecommuters must be in deficit or mostly the telecommuters use to slack at home but a recent Standford University Research tell us other way around, it ...

Social Media: Neglected Ways of Business

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Social media has changed the world for us in every way. Now it has become the significant part of our life for our social development as well as for the development of an organization, with the help of social media we have become more aware about the latest trends in business, it's users have open chance to express their ideas and thoughts related to business.  . Now we can say that if you are interested in business business or already a business owner you have to consider social media networking as a major factor of your success strategy but for many business owners are not aware about the effective use of social media for their business and for others  it's difficult to imagine a better and effective  use of social media for business. If we used social media in a proper way, it can be resulted in better ranking of your search engine, it can be resulted in better customer service by understanding your customers through complains and feed backs, helps you to build an effe...

Riba (Usury)

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Riba also known as Usury in English, the literal meaning of this Arabic term is "Excess". It is an condition in which borrower have to return extra amount or better quantity than the amount borrowed from the lender, For example giving 1000 currency note for change of 1200 currency note, this 200 excess amount would be term as Riba or Usury, having Goods or Services on credit and promise to pay higher amounts than it's original amount is also termed as riba, Simply Riba is an profit which is earned by a person without putting any effort, It is also an unfair advantage to the person or increase of wealth in unlawful way.   The reason behind prohibition of Riba in our religion Islam is that, riba deprives the wealth of an individual who have any relation with riba based activities, from Allah’s blessings. Person involve in the crime of riba is equated with crime of person who wrongfully captured the property belongs to others, It is an orders of Allah and teachi...