It goes without saying that private ownership in Islam is absolutely respected, but the more an individual owns, the more responsibility he or she has toward society. In Islam, a Muslim has full control of his or her property to consume it, use it as a means of production, save it, or give it as charity.
However, the Islamic law puts some restrictions on the use of an individual’s property. For example, the individual cannot consume it wastefully or use it in the production or facilitation of unlawful goods or practices, like alcoholic beverages, and gambling.

Dr. Monzer Kahf, a prominent economist and counselor, states, The fact is: Every person has a full authority on what he or she owns as long as he or she is in normal mental capacity and not in a situation of a terminal illness that he or she will die within a year because this is the immediate implication of the right of ownership in Islam. There is an advice (only advice) from our most beloved Prophet (peace and blessings be upon him) that one is better to leave his heirs rich rather than to leave them poor. Leaving a half a million GBP to three sons and a girl, according to the current level of living in Britain, is leaving them rich, not poor.