Islamic economic system based on justice: Dr Hussain Mohi-ud-Din Qadri

Dr Hussain Mohi-ud-Din Qadri, President of MQI, has said that traders are backbone of national economy. He asked the traders and industrialists to make standard of their products and a reasonable profit margin the practice of their business activities. He said that honesty, fair play and balance are the basis of Islamic economy.

Dr Hussain Mohi-ud-Din Qadri expressed these views while talking to a delegation of traders and businessmen who called on him yesterday. He said that it is a matter of hard luck that every walk of life is devoid of Islamic ideology. He said that welfare of humanity is at the heart of every activity in Islamic society and economy. He said that Islam is a complete code of life and the solutions it presented 1400 years ago are as relevant and practicable today as they were back then.

Dr Hussain said that while shelf life of Communism and Socialism has not been more than 100 years, Islamic economic system is there till the Day of Judgment. He said that Islamic system of economy is based on justice and Islam has protected the rights of both the employers and employee. He said that if the system of Zakat is established with all its requirements, the state can collect enough money as to provide basic services to the people free of cast despite elimination of all kinds of taxation. He said that if traders restrict themselves to earning reasonable amount of profit, no poor will go hungry. He said that the traders should confine themselves to reasonable and justified profit to earn the pleasure of Allah.