Ma`rifat Eqtesadi

This research, with a comparative and institutional approach, rereads the governance mechanisms of Baitulmal in the Prophetic government in its historical and cultural context. In this study, the modern theories of "agent-employer" and "stakeholders" are used not for direct adaptation and conceptual imposition, but as analytical tools to understand similar functions in two different contexts. The focus of the research is on identifying the institutional logic of prophetic decisions. The findings show that the Prophet established a dynamic balance between justice, legitimacy and efficiency by taking advantage of otherworldly motives, internal and popular supervision, moral accountability and fair distribution of resources, which opens a new horizon for the analysis of the cost of agency in morally oriented societies and reveals the missing link of conventional models focused on material motivation. This governance based on value and justice was able to create a basic but effective form of controlling agents and regulating public interests without relying on complex bureaucratic structures. The findings of the research based on the resilience, efficiency and dynamics of the prophetic governance experience implicitly challenge the static theory of Islamic institutions and establish a dialogue between the contemporary theories of governance and the experience of the leader of Islam.