Management of Economic crises by Prophet Muhammad,Peace be upon him Applied Models

Authors

Ahmad Sulaiman Awad Al_raqib, Applied Science Private UniversityFollow

Abstract

Since the advent of Islam, Muslims have suffered sanctions of different forms, including economic sanctions that constituted a straightforward violation of all humanist values. However, Prophet Mohammad (Peace be upon him) managed to overcome the hard economic dilemma in Mecca and Medina by taking a number of wise steps. He began by urging people to be patient, self-reliant, and resolved. Then he would introduce legislation that help to promote actions, initiatives, creative thinking, investment and productivity. This lead to economic independence and self-sufficiency. The present study looks into this phase when Muslims in the days of Prophet Muhammad (PBUH) managed to achieve a high level of economic productivity. The fact remains that in order to reach this high level of productivity, Muslims led by the Prophet had to overcome many challenges, including: three compulsory collective immigration (two to Ethiopia and one to Medina), frequent wars, internal and external dilemmas, and the Jewish manipulation of the economy in Medina. Albeit all the grave challenges, Muslims led by the Prophet managed to achieve a remarkable success. This is why the author of this article has considered to draw upon the Prophet’s wise economic strategy in time of crisis and utilize many of its aspects to solve economic crises that threaten today’s world. An insightful analysis of the Prophet’s experience in the field of economy can help interested scholars to come up with a number of efficient solutions that enable them to overcome economic crisis. The Prophet and Muslims at that time worked on the enhancement of the abilities of decision-makers in the economic domain, nurturing a positive and healthy environment, and fostering groups’ sense of allegiance, belonging, and the ability to adapt. The ultimate purpose is to prove that good management is crucial for overcoming unfortunate circumstances and turbulent contingences.

Recommended Citation

Awad Al_raqib, Ahmad Sulaiman (2017) "Management of Economic crises by Prophet Muhammad,Peace be upon him Applied Models," Al-Balqa Journal for Research and Studies البلقاء للبحوث والدراسات: Vol. 20: Iss. 2, Article 7.
Available at: https://digitalcommons.aaru.edu.jo/albalqa/vol20/iss2/7