The Economic System of Islam — Page v
Foreword We are pleased to publish a new translation of a lecture delivered by Hadrat Mirza Bashir-ud-Din Mahmud Ahmad ra , second Successor of the Promised Messiah as , entitled, Is l a m k a Iqti sa d i Ni za m [ The Economic System of Islam ]. The lecture was delivered in Lahore, at the Ahmadiyya Hostel, on February 26, 1945. The main purpose of the lecture is to show that it is only through the teachings of Islam that a truly just system of governance and economic system can be established. Drawing on the Holy Quran, the lecture spells out the responsibilities of both the rulers and the ruled, and leaves no doubt that the Islamic system of governance is fundamentally democratic, based on free and fair elections in the best sense of the word. It also ensures that justice will prevail, incentives for achieving excellence would be provided, and the basic needs of all will be satisfied. However, a proper governance structure is a pre-requisite for the establishment of the Islamic economic system—it would be impossible to have an Islamic economic system in an otherwise corrupt political and social environment. After describing in depth the main elements of the Islamic system of economics, the second half of the lecture is devoted to a critical evaluation of communism. It is demonstrated that the