Cover IMF Working Papers
Public Finance in Islam
Author:
International Monetary Fund
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Series:
IMF Working Papers
Volume/Issue:
Volume 1989: Issue 068
Language:
English
Publication Date:
01 Jan 1989
DOI:
https://doi.org/10.5089/9781451960983.001
ISBN:
9781451960983
ISSN:
1018-5941
Pages:
58
Keywords:
WP; standard of living; resource allocation; public finance; expenditure process; redistributive measure; state expenditure
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper analyzes the bearing of Islamic teachings on the conduct of fiscal policy. It is shown that Islamic teachings do not prescribe any rigid system of public finance. The major emphasis is on the state’s responsibility to assure at least a basic minimum standard of living for all citizens. The paper deals with issues related to evolution of fiscal policies best suited to achieve this and other Islamic socio-economic objectives in the specific framework of Islamic teachings. The implications of such a system for growth, monetary stability, resource allocation, and pattern of income distribution are also examined.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 1989: Issue 068