Public and Private Ownership Guideline in Fiqh Islam

Abstract

The management of natural resources, the nation's wealth, and public necessities play a crucial role in the economy of a nation. Should national resources be allocated and monopolized by individuals, the burden of managing the state falls upon the shoulders of the populace through taxation and other mechanisms, consequently influencing the cost of living, purchasing power, government expenditures, and the nation's monetary velocity. Therefore, this journal paper endeavors to elucidate the principles of Sharia law and provide an abstract framework regarding privatization, delineating what is permissible and what is not. It is to ensure that the country's outcomes are attainable by all segments of the population, not just manipulated by a small portion of the people.