1. The human
2. The state
CHAPTER THREE: THE ECONOMY
"Allah will deprive usury of all blessing, but will
give increase for deeds of charity" Al-Baqarah (2:276)
Allah also says:
"It is We who have placed you with authority on
earth, and provided you therein with means for the fulfillment of your life; small are the
thanks that you give" Al-A'araf (7:10)
Allah also says:
It is Allah Who has created the heavens and the earth and
sends down rain from the skies, and with it brings out fruits wherewith to feed you; it is
He who has made the ships subject to you, that they may sail through the sea by His
Command; and the rivers (also) has He made subject to you. And He has made subject to you
the sun and the moon, both diligently pursuing their courses: and the Night and the Day He
(also) made subject to you. And He gives you of all that you ask for. But if you count the
favors of Allah, never will you be able to number them: verify, man is given up to
injustice and ingratitude" Ibrahim (14:32-34)
What the Yemeni economy suffers from, such as short
comings in its structure and noticeable failure in its ability to play its role, is a
result of the absence correct economic direction and lack of realistic economic policies.
This is also due to the use of the state and society as a laboratory for testing economic
opinions and theories as well as delegating the management of the economy - vital as it is
- to an incapable and unqualified administration.
Ignoring administrative corruption, plundering and looting
of public funds, and sidelining or limiting the role of the private sector in the process
of development - as result of absence of legal safeguards that motivate participation, as
well as the absence of a strong and just judiciary.
This has lead to structural economic imbalance, the most
prominent of which is the imbalance between production and consumption, between investment
and savings, between imports and exports, as well as the country's being subjected to a
catastrophic economic crisis. Such crisis threatens social peace and political stability,
and can push the country to the entrapment of foreign debts, and as a result of which
economic and political TABAAAYAH.
It is the YIP's view that there is no way of escaping all
this except through adherence to a programme that is based on Islamic principles and
values and mobilises the people's spiritual energies and social powers and adopt serious
and bold economic policies. Such policies need to be realistic and take into consideration
the stage of social and economic development and the available means to society in order
to bring about the desirable change. All this is based on the following.
Freedom of economic activity according to the objectives of
Shari'ah as the correct approach to the participation of every individual in society in
shouldering the burden of economic and social development so that the spirit of good
competition may prosper in the areas of production and construction, in so doing
guaranteeing the interest of the individual and society away from exploitation and
monopoly, both of which are forbidden in Islam.
Respect for private ownership and allowing private and
co-operative sectors to take part in all economic activity by providing all the guarantees
and facilities to ensure the success of their investments and effective participation in
building the country. Reducing the role of the state to undertaking infrastructure
projects within society, investing in the natural resources and preparing the appropriate
conditions for the establishment of the economic activity on the basis of market forces,
free competition in a socio-economic structure that achieves the requirements of both
freedom and justice.
Justice. Which means giving priority to the achievement of
social equilibrium before in other demands, and that the aim of development should not be
just to achieve a quantitative increase in GDP. On top of this it is important to tackle
poverty, deprivation and social imbalance, as well as the achievement of streamlined
distribution of the fruits of economic and social development between rural and urban
areas and between the governorate of the Republic of Yemen.
Re-enforcing economic independence, to the extent that the
criteria for the feasibility of any economic activity, whatever its legal set-up, is the
extent to which it contributes to this general aim.
Capable and impartial administration is the backbone of
success in achieving economic policies and attaining the objectives with the best means
and the least cost.
Liberating economic activity from the dominance of the
political process and submit it to safe scientific criteria and the demands of reality.
Introducing the criteria of economic viability to public
sector projects, which are commercial in character, represents a realistic way to
improving its competence and developing its performance. This will lead to reducing the
financial burden on the state, and releasing additional resources that can be used in
other economic activities.