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Peaking whilst in the Middle Ages, the religion of Islam has a tenuous relationship with the idea of voluntary poverty. [3] While Sufism has encouraged the renunciation of material wealth, Sunni and Shi'ite scholars have traditionally held that self-denial is inconsistent with the Quran's admonition against those who would forbid the good that God has put in this world for his people to enjoy.
Islamic economics grew naturally from the Islamic revival and political Islam whose adherents considered Islam to be a complete system of life in all its aspects, rather than a spiritual formula [86] and believed that it logically followed that Islam must have an economic system, unique from and superior to non-Islamic economic systems.
Michael Bonner writes on poverty and economics in the Qur'an that the Qur'an provided a blueprint for a new order in society, in which the poor would be treated more fairly than before. This "economy of poverty" prevailed in Islamic theory and practice up until the 13th and 14th centuries.
South Asia has the largest population of Muslims in the world, with about one-third of all Muslims being from South Asia. [22] [23] [24] Islam is the dominant religion in the Maldives, Afghanistan, Pakistan, and Bangladesh. India is the country with the largest Muslim population outside Muslim-majority countries with more than 200 million ...
According to the author, the Islamic world is locked in an internal struggle over how best to address and ultimately solve the problems endemic to many of its societies: namely, widespread poverty, extreme economic inequality, the prevalence of government by despotic rulers, and the inability to keep pace with emerging economies.
According to a study from 2015, Christians hold the largest amount of wealth (55% of the total world wealth), followed by Muslims (5.8%), Hindus (3.3%), and Jews (1.1%). ). According to the same study it was found that adherents under the classification "Irreligion", or other religions, hold about 34.8% of the total global
"We are very disappointed," Rexhinaldo Nazarko, executive director of the American Muslim Engagement and Empowerment Network (AMEEN), told Reuters.
Islam recognizes no distinction among human beings based on color, language or tribe. All are considered equal in receiving human rights and in discharge duties. According to Islamic teaching, no privileged or chosen class exists except those having piety or moral excellence. [36] A Quranic injunction forbids the Muslims to underestimate others.