We are pleased to publish a new translation of a lecture delivered by Hazrat Mirza Bashir-ud-Din Mahmud Ahmad(ra), second Successor of the Promised Messiah(as), entitled, Islam ka Iqtisadi Nizam [The Economic System of Islam]. The lecture was delivered in Lahore, at the Ahmadiyya Hostel, on February 26, 1945. The main purpose of the lecture is to show that it is only through the teachings of Islam that a truly just system of governance and economic system can be established.

Drawing on the Holy Quran, the lecture spells out the responsibilities of both the rulers and the ruled, and leaves no doubt that the Islamic system of governance is fundamentally democratic, based on free and fair elections in the best sense of the word. It also ensures that justice will prevail, incentives for achieving excellence would be provided, and the basic needs of all will be satisfied. However, a proper governance structure is a pre-requisite for the establishment of the Islamic economic system — it would be impossible to have an Islamic economic system in an otherwise corrupt political and social environment.

After describing in depth the main elements of the Islamic system of economics, the second half of the lecture is devoted to a critical evaluation of communism. It is demonstrated that the communist system is really not what it claims to be, and it has inherent contradiction which will cause its downfall. This is followed by a presentation of three prophecies about the decline of the Communist system in Russia — a prophecy of Prophet Hizqil(as) [Ezekiel], a prophecy of the Promised Messiah(as), and a dream of the author himself containing the prophecy. The events that have unfolded since the lecture was given in 1945 demonstrate a remarkable fulfilment of these prophecies.

Our thanks are due to all those friends who have contributed towards the current revised English translation of this lecture. An earlier translation of Mr. A. Q. Niaz had been published by Wakalat-e-Tabshir. The present version is revised under the supervision of Additional Wakalat-e-Tasnif by Dr. Iftikhar Ahmad Ayaz OBE, Munawar Ahmed Saeed and Dr. Irfan ul Haque with assistance from Dr. Atif Mian and Ahmed Saeed. We are grateful for the valuable assistance provided by Naveed Malik, Kashif Baloch, and Rashida Rana. May Allah the Almighty reward them all.

It may be noted that headings given in this translation are from the publishers.

Munir-ud-Din Shams
Additional Wakilut-Tasnif
London, August 2013