Note: Hujjat al-Islām wal-Muslimīn Dr. Majid Rezaei, born in 1960 in Abadan, is regarded as one of the foremost scholars of Islamic economics. A faculty member of the Department of Economics at Mofid University, he combines teaching and research with membership in the Sharia Committee of the Stock Exchange. Over the years, he has produced numerous writings on Islamic economics, including the books Supply (Insurance), Labor and Religion, and Lectures on the Jurisprudence of the Book of Ribā. We discussed with him the jurisprudential challenges surrounding the popularization of the economy. In his opinion, the fundamental principle of economy rests upon its non-governmental character; if popularization is understood as non-governmental management, its necessity becomes clear and self-evident. The complete text of this exclusive interview with a member of the Central Bank’s Sharia Council, as conducted by Contemporary Jurisprudence, follows:

Contemporary Jurisprudence: Is the popularization of the economy fundamentally feasible under a minimalist approach to fiqh?

Rezaei: In reality, there is no distinction between minimalist and maximalist fiqh—fiqh is fiqh, though interpretations vary. Someone might interpret this question differently. In acts of worship, we are fully bound by revelation (tawqīfī), so our approach in that domain can indeed be described as maximalist. In the other two areas—transactions (ʿuqūd and īqāʿāt) and penal matters (ḥudūd and diyāt)—the meaning of minimalism or maximalism must be clarified. What is clear is that the texts in these areas, such as “Fulfill your contracts” (Qur’an 5:1) and “trade by mutual consent,” are framed as general, real propositions (qaḍiyyah ḥaqīqiyyah) and thus apply across all eras.

Regarding the popularization of the economy, this term is a recent coinage from recent decades. Sometimes it refers to managing the economy in a communist or socialist fashion, as seen in France, the former Soviet Union, or Sweden.

At other times, it denotes popular ownership of all assets. For instance, China’s economy is state-owned in terms of title but operated through private sectors in practice.

In either sense, popularization bears no necessary relation to adopting minimalist or maximalist fiqh; it can be upheld under either interpretive approach.

That said, if popularization means minimal state intervention and entrusting economic affairs to the people, this is entirely sound. The basic rule governing economy is its non-governmental character. Islam certainly emphasizes governmental oversight, but the economy must be run by the people, not the state. The state must intervene in cases such as preventing hoarding or protecting the rights of workers and farmers. A hadith from the Prophet (peace be upon him) instructs Imam Ali (peace be upon him): “Do not allow oppression of the people in your presence”—indicating the duty to safeguard rights and prevent their infringement.

Contemporary Jurisprudence: Can a jurisprudential science that views its mission as otherworldly (concerned with tanjīz and taʿdhīr) propose a theory or approach like “popularization of the economy” to enhance people’s worldly economic conditions?

Rezaei: No authority has claimed that fiqh’s mission is solely otherworldly. This world and the hereafter exist in continuity, not opposition. Religion provides guidance for both. Even acts of worship serve not only the hereafter but strengthen faith to address worldly challenges here and now. No one in history has asserted that Islam opposes governance or the management of worldly affairs. Only in modern Europe did some discard religion, and others mistakenly attributed the same view to the Qur’an. In fact, the Qur’an’s social directives far outnumber its individual ones, and ultimate success in the hereafter belongs to those who act righteously in this world.

Contemporary Jurisprudence: Encouraging popular investment in the economy and production requires recognition of “intellectual property rights” within fiqh. Given the dominant juristic view rejecting such rights (e.g., copyright), is popularization of the economy feasible?

Rezaei: Intellectual property rights remain a contested and not easily demonstrable issue. Historically, if someone wrote a book and another copied it, no objection arose; authors were often pleased by the attention. Copyright became relevant only with the printing press. Even jurists like the late Imam [Khomeini] and Ayatollah Safi Golpayegani, who do not accept it in principle, uphold it when legally established, due to the duty of legal compliance. Thus, jurists appear to accept copyright either primarily or secondarily (via the obligation to obey the law).

Contemporary Jurisprudence: Serious confrontation with corruption and rent-seeking is essential to encourage popular investment. Given the prevailing fatwa that bribery (except in adjudication) and informational rent-seeking are not absolutely prohibited, is popularization feasible?

Rezaei: Whether informational rent-seeking is permissible is subject to debate. Corporate boards and public officials are contractually and legally bound to safeguard confidential information; selling it is therefore impermissible. If such information reaches someone unintentionally, the ruling is unclear. In general, the absolute prohibition of bribery and informational rent-seeking involves extensive discussion.

Contemporary Jurisprudence: Serious opposition to law-breaking is required to encourage investment. Given the dominant fatwa that opposition to law is not absolutely forbidden—being conditioned (e.g., prohibited only if it harms the violator or aligns with a specific jurist’s fatwa)—is popularization possible?

Rezaei: Compliance with enacted laws is evident and unlikely to be opposed by any jurist. We are all obliged to observe laws unless they manifestly contradict Sharia. Amir al-Mu’minin (peace be upon him) states that we are all duty-bound to uphold social order.

Contemporary Jurisprudence: Does popularization of the economy require governmental fiqh or social fiqh?

Rezaei: Islam has no individual jurisprudence. The presence of social and governmental rulings proves our fiqh is social and governmental by nature. Popularization of the economy therefore requires social and governmental fiqh—but the point is that our fiqh already is so, not that it must become so.