Overview

State Property
Arms industry, Steel industry

Public Property
Energy, Rivers, Transport etc.

Private Property
Home, Cars, Industry etc.

Uncultivated land for over 3 years, is taken by State and redistributed. A citizen can take any amount of land which is not owned by anyone in order to fence it and start its cultivation Loans available from bayt-al-Mal

Revenue: Zakat, Jizya, Khiraj, Ushr Emergency Tax

Limited duration only

State Business Public Business (Public property)

Reinvested in expansion

Khilafah - No taxes on common man - Tax on Savings GST Tax, Income Tax, Withholding tax, toll tax etc. are all haram and will be abolished.

Capitalism -Taxes on common man - Tax on income 63.93% (Rs 840 Billion) of revenue of Pakistan comes from taxes on the people as per the budget 2006-2007 figures.

-There will be following permanent sources of revenues in an Islamic State: a. Al-Kharaj b. Al-Jizya c. Al-Ushr d. The fifth of Al-Rikaz (hidden treasures / minerals.

Generated revenue goes in different accounts. Revenue spent according to needs of area and not based on its productivity.

Backed by Gold/Silver Not based on FIAT model. Does not loose value over time. States economy is not effected by fall in value of foreign currency.

Interest not allowed. No alternatives to batil /Fasiq methods People will:

Take money out and invest Keep money in homes Keep money in Financial Institutes

Interest
Banking, Loans, Prize bonds,

Gambling
Commercial gambling, Lucky draws, stock exchange. Result Investment in real economy.

Man is not viewed merely as a unity of economic value Capitalist view man as unit of economic value Capitialism:
Freedom of Capital, Freedom of ownership

Flow of knowledge cannot be restricted. Seller cannot restrict ownership of product sold. Technology, Books etc. cannot be copyrighted.

Expensive medicine today. Khilafah will reduce its cost. Attract scientists from around the world.

Trademarks allowed.