Hazine Kurumunun Beytülmâl’in Devamı Olarak Nitelendirilmesinin Eleştirel Bir Değerlendirmesi
A Critical Evaluation of the Characterization of the Treasury Institution as a Continuation of the Bayt al-mal

Summary/Abstract: Bayt al-mal is one of the institutions whose ontological and epistemological foundations determine its functioning in pre-modern context, yet these underlying structures have been ignored to a certain extent in modern studies leading to an anachronic analysis of bayt al-mal. The aim of this study is to make a critical comparison of bayt al-mal and treasury institutions in terms of income items, expenditures, and objectives of respective institutions. Bayt al-mal as a institution developed by the political authority to realize the objec-tives of the Shari'ah based on the needs of growing Muslim communities, is fundamentally different from modern treasuries in terms of sovereignty, income sources, expenditures, and objectives. Bayt al-mal operates under the sovereignty of Allah, with income derived from Islamic taxes like zakat, humus, and jizya. Its expenditures align with Shariah objectives such as enjoining good, jihad, and establishing justice. This institution, rooted in religious principles, uses its resources to achieve objectives deemed beneficial by Allah. In contrast, the modern treasury is an integral part of the state, shaped by its own sovereign principles and capitalist ideology. Its income primarily comes from taxing citizens and corporations, focusing on continuous growth and progress. The state's expenditures, including salaries and pensions, reflect its central control and aim to sustain its authority and capitalist principles. The findings we obtained as a result of the comparison between the two institutions highlights the dangers of conflating bayt al-mal and modern treasuries without acknowledging their distinct natures. It argues that overlooking these differences hinders the development of financial instruments compatible with Islamic principles. The study also raises the question of whether bayt al-mal can harmonize with modern state structures in terms of income, expenditures, and objectives. This critical comparison underscores the need for careful consideration of these institutions' unique characteristics in Islamic financial jurisprudence.

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