IJMIE Volume 3, Issue 8 ISSN: 2249-0558 __________________________________________________________ A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories Indexed & Listed at: Ulrich's Periodicals Directory ©, U.S.A., Open J-Gage as well as in Cabell’s Directories of Publishing Opportunities, U.S.A. International Journal of Management, IT and Engineering http://www.ijmra.us 257 August 2013 Recognition of the Institution of Private Ownership- Analysis from Islamic perspective Dr. Farooq Aziz (Corresponding Author)  Dr. Mahwish Anjam  Syed Muhammad Fahim  Faisal Saleem  Abstract Quran has categorically recognized the institution of private ownership, it is proved from the fact that, in almost 100 verses of Quran ownership of different things e.g. houses, gardens, ships, Jewelry, crops and other assets is admitted. With that, Quran has also highlighted those basic principles on which ownership can be valid. Out of these, the basic principle is human labour. Moreover on the basis of different types of rights ownership of assets is also recognized. In this context, since the base of ownership is human labour, ownership of land is not admitted by Quran. Some other aspects related to the concept of ownership are also highlighted in Quran. Keywords: Quran; Verses, Ownership, Rights; Assts.  Assistant Professor, Department of Business Administration, Federal Urdu University , Gulshan-e-Iqbal, Campus, Karachi  Assistant Professor, Department of Management Sciences, DHA Suffa University, DHA, Karachi  Assistant Professor, DHA Suffa University, Karachi, Pakistan  PhD Research Scholar, Khadim Ali Shah Bukhari Institute of Technology (KASBIT), Karachi, Pakistan