A Research and Analytical Study of Madani Economic Revolution and Prophetic Reforms

Abstract

The first concept given in Islamic economy is that whatever a person has, wealth, land, farm, property, house, business, all these things have been entrusted to him by Allah as a trust. Therefore, in reality, man is not an owner, but a trustee who is authorized to dispose of these things according to the instructions given by his owner. For a long time before the Prophet's migration, the Jews had created a conflict between the tribes of Aws and Khazraj and pushed them into mutual wars under a plan. These two tribes kept fighting each other and the Jews took advantage of this. All the economic resources of Madina were kept in their hands. But after the migration of the Prophetﷺ, the conditions of the people of Medina started to change. After the Hijrah, the Prophet established a brotherhood between the residents of Madinah and the Muslim emigrants who had migrated from Makkah, which, among other benefits, gave the Muslims an important benefit in that the economy was gradually taken away from the Jews. It started falling into the hands of the Muslims. The Prophet ﷺalso gave some instructions to establish the economy of Madina on the right lines, which later came to be considered as the main pillar of the economic system of Islam. Before the Prophet's migration, all the wealth was concentrated in the hands of only a few tribes of Jews, and after the Prophet's migration, due to the economic reforms of the Prophet, instead of being concentrated in the hands of a few Jews, the wealth was automatically distributed among different people.