The objectives of the Qur’an regarding the legitimacy of preserving wealth by saving and prohibiting it by treasuring

Abstract

This article aims to discuss the purpose of the Holy Qur'an in the legislation of permissibility to preserve wealth with the instruments of Savings, and the purpose of its prevention with the instruments of treasuring.  As well as aims to discuss the definition of savings and treasuring as tools to preserve wealth and the difference between them. The researcher used the method of induction by tracking the verses from the Qur'an related to the financial instruments of savings and treasuring, and deriving the purpose through them. This article comes in three demands. Firstly, To introduce the definition of the purpose, the preservation of wealth and the importance of preserving wealth. Secondly, To introduce the savings and the treasuring as two instruments for preserving wealth and also to describe the difference between them. Thirdly, To discuss the purposes of the Qur'an in legislating the permissibility of the savings instrument and its purposes in preventing the preservation of wealth with the treasuring instruments. The researcher reached a number of results which the most prominent were the following: A- Saving wealths coincides with treasuring and monopoly in that each of them is a means of preserving wealth. It differs from treasuring in that it does not mean disrupting wealth as is the case of treasuring, and It differs from monopoly in that it does not aim to imprison the commodity with the intention of harming people. B- The purpose of the Qur'an that permitted the preservation of wealth with a saving instrument is summarized in that wealth represents a source of safety for its owner from potential risks such as illness and sudden financial obligations such as disasters and major calamities from wars, earthquakes and others. The intention is to manage balanced wealth, to prevent risks to wealth and the need to introduce the safest instruments. C- The purpose of the Qur'an that prohibited the treasuring of wealth is summarized in that the treasuring of wealth by maximizing and disabling it is incompatible with the purpose of trading and popularizing funds. And treasuring is contrary to the purpose of justice as well as to the economic effects of it which is from the researcher's point of view: to lower GDP, to weaken purchasing capability of society, to produce a high rate of unemployment and to lower product’s prices. For several reasons, the researcher believed that it will disappear the financial liquidity from the market, and one of the images of its disappearance: keeping it by its owners, in what is known as treasure. This research contributes to the enrichment of knowledge of the importance of preserving money, and the saving tool with a positive economic impact, and in return warning against keeping money with the treasure tool and its impact on the economy, and also contributes to the definition of the goals and purposes of the permissibility of the savings tool and the purposes of prohibiting the hoarding tool of money