Merits of Islam in Financial Matters
ý1- Islam preserves the property of others, prevents theft and sets severe ýpunishment for it.ý
ý5: 38. Cut off (from the wrist joint) the (right) hand of the thief, male or ýfemale, as a recompense for that which they committed, a punishment by ýway of example from Allâh. And Allâh is All¬Powerful, All¬Wise. ý
ý2- Islam preserves money and forbids the foolish from wasting it, the ýfoolish is a person who is either too young, or without mental stability.ý
ý4:ýþ þý5. And give not unto the foolish your property which Allâh has made a ýmeans of support for you , but feed and clothe them therewith, and speak ýto them words of kindness and justice.ý
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ý3- Money is an endowment from Allah, therefore it must be spent in ways ýHe approves of.ý
þ þý9:34. O you who believe! Verily, there are many of the (Jewish) rabbis ýand the (Christian) monks who devour the wealth of mankind in ýfalsehood, and hinder (them) from the Way of Allâh (i.e. Allâh's Religion ýof Islâmic Monotheism). And those who hoard up gold and silver [Al-ýKanz: the money, the Zakât of which has not been paid], and spend it not ýin the Way of Allâh, -announce unto them a painful torment. ý
ý4- Islam has a rule for property found without knowing its owner; it is not ýpermissible for anyone to pick up any kind of lost property unless he can ýbe sure that he will deal with it properly and that he is able to make the ýnecessary announcements
The Messenger of Allah (peace and blessings of Allah be upon him) was ýasked about lost gold and silver. He said, ‘Know the details of the purse ýand the string, then announce it for a year. If no one claims it, then ýdispose of it, and it is like a trust in your hands. Then if the owner comes ýalong some day, give it to him.” He was asked about the sheep, and he ýsaid, “Take it, because either it is for you, or your brother, or the wolf.” ýHe was asked about lost camels, and he said, “What has it got to do with ýyou? It has its water, it can walk to find water and it can eat trees until its ýowner finds it.”ý
ý5- Islam forbids not giving full measure and full weight during selling, ýbuying or any other dealings.ý
ý6: 152. and give full measure and full weight with justice. We burden not ýany person, but that which he can bear.ý
ý83: 1. Woe to Al-Mutaffifin [those who give less in measure and weight ýý(decrease the rights of others)], 2. Those who, when they have to receive ýby measure from men, demand full measure, 3. And when they have to ýgive by measure or weight to men, give less than due. ý
ý17:ýþ þý35. And give full measure when you measure, and weigh with a ýbalance that is straight. That is good (advantageous) and better in the end. ý
ý6- Islam regulates the process of borrowing by legal ********sý
ý2: 282. O you who believe! When you contract a debt for a fixed period, ýwrite it down. Let a scribe write it down in justice between you. Let not ýthe scribe refuse to write as Allâh has taught him, so let him write. Let ýhim (the debtor) who incurs the liability dictate, and he must fear Allâh, ýhis Lord, and diminish not anything of what he owes. But if the debtor is ýof poor understanding, or weak, or is unable himself to dictate, then let ýhis guardian dictate in justice. And get two witnesses out of your own ýmen. And if there are not two men (available), then a man and two ýwomen, such as you agree for witnesses, so that if one of them (two ýwomen) errs, the other can remind her. And the witnesses should not ýrefuse when they are called on (for evidence). You should not become ýweary to write it (your contract), whether it be small or big, for its fixed ýterm, that is more just with Allâh; more solid as evidence, and more ýconvenient to prevent doubts among yourselves, save when it is a present ýtrade which you carry out on the spot among yourselves, then there is no ýsin on you if you do not write it down. But take witnesses whenever you ýmake a commercial contract. Let neither scribe nor witness suffer any ýharm, but if you do (such harm), it would be wickedness in you. So be ýafraid of Allâh; and Allâh teaches you. And Allâh is the All-Knower of ýeach and everything. ý
ý7- Paying off the debts is an obligation on those who are capable of doing ýso.ý
The Prophet (peace and blessings of Allah be upon him) said: “For a rich ýman to delay payment is wrongdoing.”ý
Islam also forbids asking for a loan with no intention of repaying it; to ýtake anything of the wealth of a fellow-Muslim, unless it is given freely. ý
The Prophet (peace and blessings of Allah be upon him) said " “Whoever ýtakes people’s money but he intends to pay it back, Allah will pay it back ýon their behalf, but whoever takes it and intends to destroy it, Allah will ýdestroy him.” ý
ý8- Islam forbids usury because it inflicts injustice to one of the parties.ý
ý2: 275. Those who eat Ribâ (usury) will not stand (on the Day of ýResurrection) except like the standing of a person beaten by Shaitân ýý(Satan) leading him to insanity. That is because they say: "Trading is only ýlike Ribâ (usury)," whereas Allâh has permitted trading and forbidden ýRibâ (usury). So whosoever receives an admonition from his Lord and ýstops eating Ribâ (usury) shall not be punished for the past; his case is for ýAllâh (to judge); but whoever returns [to Ribâ (usury)], such are the ýdwellers of the Fire - they will abide therein. ý
The Messenger of Allah (peace and blessings of Allah be upon him) ýcursed ten people: the one who consumes ribaa, the one who pays ribaa, ýthe one who writes it down, the two who witness it, the one who makes it ýlawful, the one for whom it is made lawful, the one who withholds ýsadaqah (charity), the one who does tattoos and the one for whom ýtattooing is done.”ý
ý9- Islam makes it mandatory to replace the item which a person borrows ýfrom someone else and wastes it, this is to ensure the rights of the owner, ýand to teach the borrower a lesson in how to guard and take good care of ýwhat he was entrusted with.ý
ý2: 194 Then whoever transgresses the prohibition against you, you ýtransgress likewise against him
ý10- Islam urges defending personal properties, and gives the victim the ýright to kill the aggressor if he had to.ý
The Prophet (peace and blessings of Allah be upon him) said: “Whoever ýis killed defending his property is a shaheed (martyr), whoever is killed ýdefending himself is a shaheed, whoever is killed defending his religion is ýa shaheed, and whoever is killed defending his family is a shaheed.”ý
ý11- Islam forbids wasting money needlessly, because the Almighty Allah ýhates extravagance for it is harmful to the people, and might lead them to ýbecome poor and unable to provide for their families.ý
ý57: 7. Believe in Allâh and His Messenger (Muhammad), and spend of ýthat whereof He has made you trustees. And such of you as believe and ýspend (in Allâh's Way), theirs will be a great reward. ý
ý2: 195. And spend in the Cause of Allâh (i.e. Jihâd of all kinds, etc.) and ýdo not throw yourselves into destruction (by not spending your wealth in ýthe Cause of Allâh), and do good. Truly, Allâh loves Al-Muhsinûn (the ýgood-doers). ý
ý 17: 26. And give to the kindred his due and to the Miskîn (poor) and to ýthe wayfarer. But spend not wastefully (your wealth) in the manner of a ýspendthrift . 27. Verily, spendthrifts are brothers of the Shayatîn (devils), ýand the Shaitân (Devil ¬ Satan) is ever ungrateful to his Lord. ý
ý 5:31. O Children of Adam! Take your adornment (by wearing your clean ýclothes), while praying and going round (the Tawâf of ) the Ka'bah, and ýeat and drink but waste not by extravagance, certainly He (Allâh) likes ýnot Al-Musrifûn (those who waste by extravagance). ý
The Prophet (peace and blessings of Allah be upon him) said: “Allah has ýforbidden you to disobey your mothers, to bury infant girls alive, to ýwithhold the rights of others, to demand what is not rightfully yours, to ýpass on everything that you hear, to ask too many questions and to waste ýmoney.”ý
ý12- Islam forbids the capable from begging and orders people to earn ýtheir living by working in all kinds of legal areas such as agriculture, and ýtrading. ý
ý67: 15. He it is, Who has made the earth subservient to you (i.e. easy for ýyou to walk, to live and to do agriculture on it, etc.), so walk in the path ýthereof and eat of His provision, and to Him will be the Resurrection. ý
The Prophet (peace and blessings of Allah be upon him) said: “No man ýeats better food than the one who earns it with his own hands. The ýProphet (peace and blessings of Allah be upon him) of Allah Dawood ýý(peace be upon him) used to eat from what he earned with his own hands.ý
The Messenger of Allah (peace and blessings of Allah be upon him) said: ýý“For one of you to chop wood and carry it on his back is better for him ýthan asking (begging) from anyone who will either give him something or ýrefuse to give him anything.” ý
The Prophet (peace and blessings of Allah be upon him) said “Asking (for ýhelp) is not permissible except in three cases: a man who has been stricken ýby poverty, (so obvious) that three wise men of his people would say that So ýand so is stricken by poverty. Then asking is permissible for him, so that he ýcan get enough for his basic needs.” ý
ý13- Islam forbids people from earning their living from illegal means.ý
ý23: 15. He it is, Who has made the earth subservient to you (i.e. easy for ýyou to walk, to live and to do agriculture on it, etc.), so walk in the path ýthereof and eat of His provision, and to Him will be the Resurrection. ý
ý2: 172. O you who believe (in the Oneness of Allâh - Islâmic ýMonotheism)! Eat of the lawful things that We have provided you with, ýand be grateful to Allâh, if it is indeed He Whom you worship. ý
ý23: 51. O (you) Messengers! Eat of the Taiyibât [all kinds of Halâl (legal) ýfoods which Allâh has made legal (meat of slaughtered eatable animals, ýmilk products, fats, vegetables, fruits, etc.], and do righteous ýdeeds. Verily! I am Well-Acquainted with what you do. ý
The Messenger of Allah (peace and blessings of Allah be upon him) said: ýý“O people, Allah is Good and only accepts that which is good. Allah ýcommanded the pious to follow the same commandments as He gave to ýthe Messengers. He says (interpretation of the meaning):‘O (you) ýMessengers! Eat of the Tayyibaat [all kinds of Halaal (lawful) foods ýwhich Allah has made lawful (meat of slaughtered eatable animals, milk ýproducts, fats, vegetables, fruits)] and do righteous deeds. Verily, I am ýWell-Acquainted with what you do’ [al-Mu’minoon 23:51]ý
ý‘O you who believe (in the Oneness of Allah — Islamic Monotheism)! ýEat of the lawful things that We have provided you with’ [2:172]ý
Then he mentioned a man who has traveled on a long journey and is ýdishevelled and covered with dust; he stretches forth his hands to the ýheaven, (saying) “O Lord, O Lord”, but his food is haraam (from ýunlawful means), his drink is haraam, all his nourishment is haraam, so ýhow can his du’aa (prayer) be accepted?” ý
The Messenger of Allah (peace and blessings of Allah be upon him) said: ýý“Whoever gives charity equal to a date from good (halal) earnings – for ýAllah does not accept anything but that which is good – Allah will take it ýin His right hand and tend it for the one who gave it as any one of you ýtends his foal, until it becomes like a mountain.”ý
ý14- Islam forbids being a miser, because it reflects distrust in Allah, and ýdeprives the poor from getting help which is a must.ý
ý17: 29. And let not your hand be tied (like a miser) to your neck, nor ýstretch it forth to its utmost reach (like a spendthrift), so that you become ýblameworthy and in severe poverty. ý
ý2: 195. And spend in the Cause of Allâh (i.e. Jihâd of all kinds, etc.) and ýdo not throw yourselves into destruction (by not spending your wealth in ýthe Cause of Allâh), and do good. Truly, Allâh loves Al-Muhsinûn (the ýgood-doers). ý
ý15- Islam forbids all kinds of selling which involve ignorance (of the ýproduct), misleading and cheating; selling blood, wine, pork, idols and ýeverything that Allah has forbidden - their price, whether bought or sold - ýis unlawful, forbids najash, which is offering a price for something one ýhas no intention of buying, as happens in many auctions; concealing a ýproduct’s faults at the time of selling; selling something which one does ýnot own or before it comes into one’s possession; undercutting, ýoutbidding or out bargaining another; selling produce before it is clear ýthat it is in good condition and free of blemish.ý
ý16- It is forbidden to bet or gamble; to take anything by force; and to ýaccept or offer bribes.ý