The Economic Strategies Adopted by the Prophet (pbuh) and their Effects on Muslims’ Economic Independence in Medina

After Mohammad (pbuh) was made a prophet, the Quraysh imposed heavy economic pressures on the Muslims. To get the Muslims rid of this predicament and bring them economic independence, the prophet adopted certain strategies. This issue is examined in the present study through a descriptive-analytical method and with reference to Qur’anic verses, hadiths and historical sources. As the results of this study indicate, via various economic strategies, the prophet could not only abort the economic threats of his enemies but made the Muslims’ economy rather independent too. Thus, the Quraysh, as the major enemy of Islam, were challenged economically, security was provided for the Muslims’ trade lines, and the economic productivity was enhanced as a result of the flourishing domestic production in Medina. All this attracted much more people to Islam and made Muslims more self-confident. The prophet’s economic strategies mainly included persuading the rich to help the poor, giving charitable loans, establishing a market and monitoring it, granting land to the needy for building and farming, diversifying the economic activities, making a drainage system in the lands around Medina so as to promote the agriculture there, expanding crafts and industrial activities among the Muslims, paying special attention to agriculture, and conserving the environment.

Keywords:

the Prophet (pbuh) , economy , Islamic economy , Prophet’s economic policies , Economic solution , Economic strategy