Social Protection in Modern Economics - A Study in Perspective of Allama Iqbal's Economic Thought

The Chairman of the department, Professor Dr. Raza Al-Mustafi, highlighted the objectives of the webinar. Dr. Tahir Hameed Tanoli from Iqbal Academy Pakistan delivered a lecture on this topic. In his lecture, he said that the social security measures proposed by modern economics are in a sense a continuation of Allama Iqbal's economic thought, the details of which we find in Allama Iqbal's works. Allama Iqbal has described the defects of the capitalist economy and suggested effective measures to remedy them in his poetic and prose writings. Allama Iqbal's concept of the ideal state of Marghdin and the economic concepts presented in the Qur'anic Mohkamat can become a strong foundation for social protection for humanity. He explained the point that the economic system that Allama Iqbal is talking about is based on the principle of Islamic trust, the concept of ownership, the principle of Qal al-Afw and the principle of economic and social benefit. By implementing these principles into the system, not only our society can become an ideal society, but we can also present an ideal role model for humanity at the global level. He urged the students studying economics to study modern economic ideas as well as Allama Iqbal's economic ideas and the methodology in which Allama Iqbal understood and explained the economic system of the Holy Qur'an. In this way our youth can introduce new concepts in the knowledge of economics and identify new possibilities.