A Research and Analytical Study of Halal and Haram Sources of Income in Islamic Economy

Abstract

Man's greatest weakness is his obsession with instant wealth, often going beyond the distinction between lawful and unlawful activities. This was evident in the people of Yathrib and surrounding areas, who erased the distinction between halal and haram, allowing them to earn money from any source and in any way. Medina's trade was controlled by Jews, who valued them but had distorted it according to their own desires. This led to their own decisions in economic matters. One positive effect of Islamic teachings on the economic conditions of Medina after the Prophet's migration was the concept of Halal and Haram. Islam outlaws all income sources that violate Allah's laws, preventing harm to society individually or collectively. It also negates methods of trade where one party benefits and the other party's benefit is doubtful. Islam also outlaws income sources that could be exploited and means of subsistence obtained without labor. In the Qur'an, it is encouraged to earn halal sustenance.