International Journal of Managment, IT and Engineering
  • Year: 2013
  • Volume: 3
  • Issue: 8

Recognition of the institution of private ownership- analysis from islamic perspective

  • Author:
  • Farooq Aziz1, Mahwish Anjam, Syed Muhammad Fahim, Faisal Saleem
  • Total Page Count: 8
  • Page Number: 257 to 264

*Assistant Professor, Department of Business Administration, Federal Urdu University, Gulshan-e-Iqbal Campus, Karachi

**Assistant Professor, Department of Management Sciences, DHA Suffa University, DHA, Karachi

***Assistant Professor, DHA Suffa University, Karachi, Pakistan

****PhD Research Scholar, Khadim Ali Shah Bukhari Institute of Technology (KASBIT), Karachi, Pakistan

1Corresponding Author

Online published on 11 November, 2013.

Abstract

Quran has categorically recognized the institution of private ownership, it is proved from the fact that, in almost 100 verses of Quran ownership of different things e.g. houses, gardens, ships, Jewelry, crops and other assets is admitted. With that, Quran has also highlighted those basic principles on which ownership can be valid. Out of these, the basic principle is human labour. Moreover on the basis of different types of rights ownership of assets is also recognized. In this context, since the base of ownership is human labour, ownership of land is not admitted by Quran. Some other aspects related to the concept of ownership are also highlighted in Quran.

Keywords

Quran, Verses, Ownership, Rights, Assts