In The Name of Allah, The Most Merciful, The Bestower of Mercy.
Solution to Wealth
Imam As-Sadi [may Allah have mercy upon him] said:
People’s goals and policies on wealth and poverty differ due to their own interests and are not based on adherence to the truth and consideration of the broader public good. Because they did not follow the teachings of the Islamic religion, they all erred (and missed) the path that would lead to beneficial outcomes- their ideas differed, and they behaved accordingly, resulting in widespread evil and great strife between those claiming to support the poor and workers and those clinging to riches and wealth. They have a lengthy discussion on this subject, and all of it amounts to error and misguidance, and Allah has guided the believers to the right path in all of their affairs, including this one.
All praise is due to Allah; the Islamic Shari’ah came to rectify the rich and poor, and when Allah [The Exalted] decreed that individuals among humans and Jinn would have varied social statuses – among them the rich, the poor, the one with a high social standing, and the one with a lower social status – based on a great judgement and underlying reasons that are too precise to describe, He then established a strong relationship amongst them, with some given authority over others, mutual exchange established, and some in need of others. The All-Wise Law Giver – [The One completely Wise in everything He decrees, and completely Wise in His Sayings, and completely Wise in His Actions, and there is no deficiency in anything He decrees, says, or does] – first ordained that they be brothers and not to take personal advantage of each other; but rather He instructed each of them to fulfil what they owed to the other, so achieving social harmony and the necessities of life.
Islam obligated Zakat from the wealth of the rich based on what is stated regarding its details in the divine revelation. It made spending a means of meeting the needs of the poor and achieving religious well-being, which secures both worldly and religious affairs; encourages kind behaviour at all times and on all occasions, obligated to meet the needs of the needy, feeding the hungry, providing clothing for those without enough clothing, and paying for the necessities of the destitute. It also obligates specific expenditure on family and children, as well as on matters relating to their affairs, as well as the discharge of all obligations related to the mutual interactions that occur between people. Furthermore, Islam commanded them not to rely entirely on their strength and power in pursuing earnings, nor to regard what they possess as a source of (permanent) tranquillity and stability; instead, they should focus on obedience to Allah, acknowledge Allah’s favours, Allah’s facilitation of ease, seeking Allah’s assistance, and thanking Allah for the wealth and prosperity He has bestowed upon them over others.
Allah commanded them to stay within the confines of Halaal and Haraam, and not to overindulge in luxury and excess in a way that affects their morals, riches, and overall state of affairs, rather, they should do what Allah says in Surah Al-Furqan, Aayah 67:
والذين إذا أنفقوا لم يسرفوا ولم يقتروا وكان بين ذلك قواما
And those, who, when they spend, are neither extravagant nor niggardly, but hold a medium (way) between those (extremes)].
Furthermore, Allah commanded them to pursue wealth and worldly things in an honourable and honest manner, so that they are not tainted with evil gains, such as usury, gambling, swindling, fraud, or deception; rather, they should adhere to the divine revelation’s ordainments in their dealings, just as they do in their personal acts of worship. And Allah commanded them to treat the poor with mercy and benevolence, rather than cruelty, harshness, selfishness, boastfulness, insolence, and pride. As a result of these wise instructions, religious well-being becomes the highest level of honour and perfection, and wealth acquires a praiseworthy description, a perfect attribute, sublimity, and loftiness, because the divine revelation refined and purified it, exhorts one to avoid vices, and urges one to acquire virtues (i.e. virtues mentioned in the divine revelation).
[An Excerpt from Ad-Deenus Saheeh Yahillu Jamee al-Mashaakil (The right religion is the answer to every problem)-Page 9. slightly paraphrased]