The G20 is currently in session in Soeul Korea. One of the big ideas to come out of it was the global "Robin Hood" tax - a tax on financial transactions. So the bigger the transaction the bigger the tax.
Some have said it is progressive and innovative - a good idea but almost impossible to implement on a global level.
Islam already has a "Robin Hood" tax. It is called zakat and it is obligatory for every Muslim to pay it once a year according to his means.
Zakat is a payment calculated on an individuals wealth*. Zakat is one of the pillars of Islam and it is the major economic means for establishing social justice and leading the Muslims society to prosperity and security. (Commentary from Sahih Bukhari English Translation).
* Zakat is not payable upon a Muslim's horse or slave. As we don't use horses for transporting ourselves, some say that this can be applied to one's car - however I don't have any evidence to present on this issue.
If every Muslim payed the correct amount of Zakat owed as well as this money being distributed according to the Sunnah, I doubt there would be such hardship and poverty amongst the Muslims that I see now - that poverty is not just lack of food, housing and health but lack of education and Islamic knowledge. As there is no Islamic state, Zakat, in my opinion is not collected or distributed in a proper way.
Those entitled to receive from the Zakat funds as stated in Surah al-Taubah are as follows:
1. The poor(fuqara)
2. The needy (masakeen)
3. Officials appointed to collect Zakat(to prevent corruption on their behalf)
4. Those whose hearts have been inclined to islam(new reverts and those who need encouragement)
5. The ransoming of captives (freeing of slaves in particular)
6. Those in debt
7. Those i the way of Allah (Muhajireen and Mujahideen)
8. The wayfarer (traveller)
So Islam is the progressive entity not only proposing but implementing a global "Robin Hood" tax. We can learn a lot from our religion and there in only benefit in it.
Some have said it is progressive and innovative - a good idea but almost impossible to implement on a global level.
Islam already has a "Robin Hood" tax. It is called zakat and it is obligatory for every Muslim to pay it once a year according to his means.
Zakat is a payment calculated on an individuals wealth*. Zakat is one of the pillars of Islam and it is the major economic means for establishing social justice and leading the Muslims society to prosperity and security. (Commentary from Sahih Bukhari English Translation).
* Zakat is not payable upon a Muslim's horse or slave. As we don't use horses for transporting ourselves, some say that this can be applied to one's car - however I don't have any evidence to present on this issue.
If every Muslim payed the correct amount of Zakat owed as well as this money being distributed according to the Sunnah, I doubt there would be such hardship and poverty amongst the Muslims that I see now - that poverty is not just lack of food, housing and health but lack of education and Islamic knowledge. As there is no Islamic state, Zakat, in my opinion is not collected or distributed in a proper way.
Those entitled to receive from the Zakat funds as stated in Surah al-Taubah are as follows:
1. The poor(fuqara)
2. The needy (masakeen)
3. Officials appointed to collect Zakat(to prevent corruption on their behalf)
4. Those whose hearts have been inclined to islam(new reverts and those who need encouragement)
5. The ransoming of captives (freeing of slaves in particular)
6. Those in debt
7. Those i the way of Allah (Muhajireen and Mujahideen)
8. The wayfarer (traveller)
So Islam is the progressive entity not only proposing but implementing a global "Robin Hood" tax. We can learn a lot from our religion and there in only benefit in it.