In the golden age the economic system was under the political system. The economy was similar to the way the rulers thought about the system of government and the way they thought about the rights of the ruler and the ruled. Hazrat Muhammad SA, Hazrat Abu Bakr, Hazrat Omar. And Hazrat Ali. The Islamic ideology was active during this period, that is, the principle was prevalent that government funds were the property of the nation and the people. The ruler can accept anything from it only by proving the rights of himself or his relatives. Thus the ruler is obliged to give each person only what he really deserves. Because the ruler and others are equal in this matter. In the time of Hazrat Osman, there was a slight distortion in this policy, even then the people were enjoying their full rights. Zakat - It is imposed on Muslims in various ways. Such as: gold, silver, agricultural production, fruits, livestock, trade goods, minerals and buried wealth, etc. In general, the average rate of zakat is one fortieth. It is spent in 6 famous sectors.
This is a rough description of the situation. This time we will present the details through a few historical examples.
Fay - this is the wealth that is obtained from the mushriks without any work at all without fighting. According to the clear provisions of the Holy Qur'an, this money belongs to Allah, His Messenger, relatives, orphans, the poor and the expatriates.
Jizya: This is a special tax paid by the Islamic State to non-Muslims. It is equivalent to the zakat and physical sacrifice of the Muslims.
Four-fifths of the spoils of war will be spent on warriors and the rest will be spent on those sectors.
Or, in the place of Ganimat, ‘Kharaj’- all the lands of the Mushriks which were seized by the Muslims as a result of the war; Such as Hazrat Omar. He did this with regard to the lands of Persia - the taxes levied on those lands are special.
In the time of Hadrat Abu Bakr he also disagreed with Hadrat Umar on another matter. Hazrat Abu Bakr was of the opinion that in the distribution of wealth, the first converts to Islam and the later converts to Islam, free and slaves, men and women should all be given an equal share. But Hazrat Omar. And a group of Sahaba was inclined to recognize the first pioneers of Islam as pioneers. Hazrat Abu Bakr Ra. Aiming at them, he said, "I am well aware of the excellence and priority you are talking about. But in fact, it is a matter, the reward of which will be given by Allah Ta'ala in the Hereafter. On the contrary, it is an economic matter. The principle of equality is better than priority here.