'The Financial Aspects of the Siddiqi Biography: His Implications, Attitudes, and Jurisprudence in Finance and Economy'

Abstract

This research deals with the financial aspects and economic philosophy in the biography of Abu Bakr Al-Siddiq, may God be pleased with him, by studying his attitudes, impacts, and jurisprudence regarding finance and economy throughout his life (the pre-Islamic period, the Prophet’s era and during his mandate), guided by those aspects in rationalizing and framing the financial and economic field, leading, accordingly, to a range of results, the most important of which are: The principle of succession is the basic guide of Abu Bakr's financial biography, Al-Siddiq's financial philosophy is built on pillars including computation, compassion, asceticism, balance, and knowledge. Al-Siddiq built his financial vision-based on the texts of the revelation, imbued with the spirit and purposes of the Islamic law, directed by asceticism and piety. It was also grounded on equally perceiving money as lust and sedition, as well as a basis of life and a means that helps building the state. Ethics have a major role in guiding and framing the financial field in particular and economic activity in general, but if the financial world is disposed of morality, it becomes an image of authoritarianism and a source of crises. The duality of money and ethics in the philosophy of Abu Bakr Al-Siddiq during the pre-Islamic and the Islamic period is a role model, especially in our time.