THE ISLAMIC WEALTH MANAGEMENT: AN ANALYSIS FROM IBN SĪNĀ’S PERSPECTIVE

  • Mr. Nurizal Ismail Head of Management of Islamic Microfinance Tazkia University College of Islamic Economics Bogor, Indonesia
Keywords: Al-Kasb, Consumption, Infāq, Model Building

Abstract

Abstract Views: 313

This study aims to present the economic ideas of Ibn-e-Sīnā, dealing with the concept of wealth management. In order to achieve its objectives, this study employs qualitative research that refers to the meanings, concepts, definitions, characteristics, metaphors, symbols and descriptions of the matter under study. The study uses the literatures of Ibn Sīnā related to tadbir al-manzil (economics) to develop a theoretical model of managing wealth that integrates the material, spiritual, moral, social and legal dimensions. There are two methodologies of this study, namely interpretative and historical analytic methods. In his wealth management, there are two main variables; kasb (earning) and infāq (spending). The kasb (earning) is from al-tijārah (trade) and al-ṣinā‟at (manufacturing skills), while infāq is the function of infāq ijtimā'i (common expenditure), infāq dīni (religious expenditure) and aliddikhār (savings). Finding of this study is that the concept of managing the wealth derived from Ibn Sīnā is still relevant to the modern concept of Islamic wealth management.

Downloads

Download data is not yet available.

References

Al-Qur‘an: Text, Translation and Commentary by Abdullah Yusuf Ali, Dārul
Arābiyyah: Beirut.
1. Abidin, Ahmad Zainal. Negara Adil Makmur Menurut Ibnu Siena. Jakarta:
Penerbit Bulan Bintang, 1974.
2. Ahghari, Zohrel. The Origin and Evolution of Islamic Economic Thought.
Unpublished doctoral dissertation, Florida: The Florida State University, 1991.
3. Al Fārūqi, Ismāil Rājī. Al Tawhid: Its Implication for Thought and Life. USA:
IIIT, 1998.
4. Al-Shaybani, Muhammad b. al-Hasan. al-Iktisab Fi al-Rizq al-Mustatab. 1st
Edited by Abu Ghuddah, ‗Abd al-Fattah. Beirut: Dar al-Bashair al-Islamiyyah,
1997.
5. Al-Shaybani, Muhammad b. al-Hasan. al-Iktisab Fi al-Rizq al-Mustatab. 1st
Edited by ‗Arnus, Mahmud. Beirut: Dar al-Kutub al-‗ilmiyyah, 1986.
6. Al-Sibā‘i, Mustafa. Civilization of Faith: Solidarity, Tolerance, and Equality
Information Built on Shari‟ah. Riyadh: International Islamic Publishing, 2005.
7. Avicenna. The Divisions of the Rational Sciences, translated by Muhsin Mahdi,
The Medieval Political Philosophy, ed. Ralph Muhler, Muhsin Mahdi, New
York: Cornell University Press, 1986.
8. Bonner, Michael. ―The Kitāb al-kasb Attributed to al-Shaybānī: Poverty,
Surplus, and the Circulation of Wealth,‖ Journal of the American Oriental
Society, 121, No. 3 (Jul. - Sep., 2001): 410-427.
9. Comanor, William S. & Smiley, Robert H. Monopoly and the Distribution of
Wealth, The Quarterly Journal of Economics 89, No. 2 (May, 1975): 177-194.
10. De Boer, T.J. The History of Philosophy in Islam. translated by Edward R.
Jones, England: Curzon Press, 1903.
11. Essid, Yassine. A Critique of the Origin of Islamic Economic Thought. New
York: E.J. Brill, 1995.
12. First Encyclopedia of Islam 1913-1936. Vol VII ed. M.th. Houtsma, A.J.
Wensinck and H.A.R. Gibb, W. Heffening and E. Levi-Provencal, New York:
E.J. Brill, 1987.
13. Galston, Miriam. Realism and Idealism in Avicenna‟s Political Philosophy. The
Review of Politics, Vol. 41, No. 4. (1879).
14. Ghanzafar, S.M. and Islahi, A. A. ―Economic Thought of an Arab Scholastic:
Abu Hamid al Ghazali‖, History of Political Economy, Durham (USA): Vol.
22, No. 2, (Spring 1990): 381-403.
15. Ghanzafar, S.M. and Islahi, A.A. ―Economic Thought of an Arab Scholastic:
Abu Hamid al Ghazali‖, History of Political Economy 22.2 (1990): 381-403.
16. Gohlman, William E. The Life of Ibn Sinā: A Critical Edition and Annotated
Translation. New York: State University of New York Press, 1974.
Published
2012-03-01
How to Cite
Mr. Nurizal Ismail. 2012. “THE ISLAMIC WEALTH MANAGEMENT: AN ANALYSIS FROM IBN SĪNĀ’S PERSPECTIVE”. Journal of Islamic Thought and Civilization 2 (1), 19-36. https://journals.umt.edu.pk/index.php/JITC/article/view/24.
Section
Articles