URDU 1 MONEY AND ITS EVOLUTIONARY STAGES IN THE EYES OF ISLAMIC JURISTS

زر اوراس کے ارتقائی مراحل فقہاء اسلام کی نظر میں

Abstract

Abstract: In the past, currency was made of different metals and even today small denomination coins are still made of metals. After the invention of the computer, paper currency gradually takes over on the entire economy and become a digital currency. Like religion, currency also controls mankind, but unlike religion, currency also controls governments. After traveling 5,600 miles in three and a half years, when Marco Polo first arrived in China in May 1275, he was amazed to see four things. These were: burning stone (coal), non-combustible cloth table (asbestos), paper money and the royal postal system. Paper money is said to be the biggest deception in the world today. And now, as it goes through evolutionary stages, it has gone digital and it is not known what form it will take in the future. Islam has, of course, provided mankind with a complete system of life in which, in addition to worship, there is a solution to the problems of economics and society. In the following article, starting with the definition of money, we will review its evolutionary stages and try to see in what context Islam sees this development. Islam has always preferred and appreciated the acquisition of knowledge, be it economics or politics, currency is also called money or foreign exchange. Prior to the invention of the rupee, transactions were conducted under the "barter system", for example, a cow could be bought for a few sacks of wheat. In the same way, service or something was paid for. But in the case of wheat and cows, long-term savings are not possible; there was a need for another currency that would be easier to save. This need takes us here; now let’s take deep insight of these evolutionary stages in the eyes of Islamic jurists.