Fiscal Planning and Socio-political Decision-making: The Role of Shari‘a Democracy
Argues that the rates of zakah are not fixed. They should be fixed by ijtihad in the light of objective economic welfare criteria of the Sharf‘a tests. Explains implications of Islamic welfare function for allocation of resources, economic stabilisation and distribution of income. Proposes a system of financing and pricing public projects and utilities. A thought-provoking article. For Muslim economists. Based on primary and secondary sources. Documented.