The objective of this article is to explain different conditions for prohibition of accumulation of wealth and the solution of problems relating to this aspect according to Islamic laws. The Islamic financial system provides complete guidelines devoid of drawbacks of both capitalistic and communistic financial systems. It does not have the problems found in socialist and capitalist systems. Islam discourages occurring of wealth within a few hands, contrarily it leads towards financial as well as social deterioration. Islam, prohibits speculation gambling and usury. To overcome such male practices Islam has introduced comprehensive system of zakat, charity, inheritance, disbursement and donations.