The capitalist economic system remains the dominant mode by which we organise our economic affairs, east and west. Capitalism has gone through a number of iterations, but its basic commitment to free enterprise and free markets and limited state regulation remains the dominant orthodoxy. Over a number of episodes we have been looking at Islam’s economic prescriptions, how would a modern Islamic economic order, based on an authentic acceptance of Allah who is Al-Hakim function?

 This week we invite back onto the show Dr Abul Izz Abdul Salam, a university professor and expert in comparative economics from Jerusalem Palestine to continue our series, exploring property ownership. Capitalism places great emphasis on free enterprise, the orthodoxy states most property should be in the hands of private corporations, for this is how a truly dynamic economy can be achieved, whereas radical socialism places a greater emphasis on collective ownership, looking upon property rights with great scepticism. Until now, Muslims have oscillated between the two ideologies, many proudly describing themselves as Islamic capitalists or Islamic socialists. Yet Islam as the revelation from Allah (swt) came to help us reach salvation in the afterlife as well as harmony in our societies. So how do we define property in Islam?

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