Salaam!
As for me, not really convincing brother Ismail. This is an issue of paradigm shift and I can not go for extensive discussion here. If you can post your email address I will give you enough material to read. This is a vast subject. Let me still address one point (in short) which I understand as a major issue reflected in the verses you have quoted.
One general fundemental objection is that, if we are not allowed to save surplus money, if private acquisition is forbidden what becomes of precepts such as sadaqaat, the commands to take care of orphans, poor relatives, the weak and vulnerable sections of the society, and the poor? Indeed, what of the laws of inheritance?? Will these teachings, all of which appear frequently and are given much attention in the Quran, not become obsolete? Does the fact that these teachings are preserved in the Quran not suggest that Allah does allow private acquisition and hoarding after all? A question may also be asked, whether verses like 9:34 that prohibits hoarding, and the verse 9:35 which states that the hoarded wealth of such people will be melted in the fires of hell and used to brand them, are just superficial in nature.
Actually the Quran adopts a gradualist approach to reforming human society to bring it in line with its ideal. On the one hand it brings about a psychological change in the people and on the other it creates an atmosphere in which the individual feels increasingly secure in the knowledge that giving away his possessions will not put him in danger. It states, 'Behold, God has bought of the believers their lives and their possessions promising them paradise in return' (9:111).
In short, all Quranic instructions on subjects such as alms-giving and charity, trade, lending, borrowing, inheritance, etc. may be considered part of the first phase when a society begins to change and when new circumstances and challenges arise, the laws pertaining to the first phase are obviously no longer applicable, and they effectively recede to the background. The fact is that these laws are conditional, i.e. they are concerned with the specific condition of a given society. To tell you a few examples, there are many laws relating to freeing of slaves, marrying them and having sexual relation with them, and all these laws are not applicable when a society becomes free of slaves. Similarly when administration makes arrangements to provide loans to people, then private lending will obviously become obsolete and the Quranic instructions regarding individual loans will no longer enforced. The quranic injunction allowing individual to use find sand for ablution instead of water before prayer may become operative in a city where what is easily available, but injunction is never abrogated, in case it becomes necessary to apply it again in the future. In this regard, let me focus on laws of inheritance bit more.
Laws of inheritance:-
The Quran does not actually accept the system in which people merely inheriting the wealth from their parents as an ideal system to be followed perpetually (i.e not having earned wealth through one's own labour...and actually such kind of inheritance is a sign and basic feature of capitalist system that creates and perpetuates the rich-poor divide), and hence the Quran states "And you devour inheritance with greed" (89:19). This verse clearly shows that according to Quran, the laws relating to inheritance were applicable in the early phase of the divine system. Given that inheritance is identified with selfishness and greed, how can it be considered ideal in a true Islamic state? One of the fundamental principles of Islam is human equality, and yet in practice we also accept divides in every department of human life, as though they were natural and inevitable. Hence for example, whilst we say that the son of a man with title "Syed" should not expect to be treated differently just because the title implies he is descended from the prophet's family, we never think to apply the same rule to a millionaire's son. Simply by virtue of being born in a millionaire's house, the son receives all the privileges (with complete legal right) that come with such wealth, even though he has done nothing to contribute to those millions, even though no one knows how the millionaire has amassed the wealth. He can buy anything, including status, and this is perfectly accepted. How can this be tolerated when in Islam all men are supposed to be equal regardless of birth? The Quranic laws on inheritance thus only apply until the divine system of sustenance is full established, until the state takes up the responsibility to ensure that all the needs of all the people are met. Once this system is fully established, we will find that just as our prophet never left anything behind as inheritance, the society that follows his example will likewise not continue tradition of inheritance.
Regards,
Optimist