Economic Impacts of the of Inheritance System in Islam

Abstract

    Praise be to Allah, Lord of the Worlds, and prayers and peace be upon our Prophet Muhammad and his family and companions,

This study under the title “The Economic Impacts of the of Inheritance System in Islam” aims to illustrate the economic effects of Inheritance System in Islam. It includes an introduction, three sections and a conclusion.

 The first section: the concept of Islamic economy, its characteristics and objectives are outlined. The concept of inheritance, and its provisions are stated in section two. Finally, section three clarified the economic effects of inheritance in Islam. The main findings of this research are:

1. Under the Islamic Inheritance System, the private wealth will be fragmented quietly without inequality, violence or revolution. for the sake of prevent accumulate wealth among a few people.
2. The Islamic Inheritance System has vital role in the economic growth and market, because the heirs are running the wealth in the market.
3. The most important economic objectives of the system of inheritance in Islam: preservation of the wealth from waste and loss, because Islamic law pus limitation for disposing wealth by heir and do not allow the heir to act in all his wealth and more than the limit of the third before his death.
4. The economic effects of the system of inheritance in Islam eliminate poverty.
5. The economic effects of the system of inheritance in Islam eliminate or reduce unemployment.
6. The economic effects of the system of inheritance in Islam redistribution of funds and economic reorganization.