Wednesday, November 2, 2011

Merits of Islam in Financial Matters

1- Islam preserves the property of others, prevents theft and sets severe punishment for it.
5: 38. Cut off (from the wrist joint) the (right) hand of the thief, male or female, as a recompense for that which they committed, a punishment by way of example from Allâh. And Allâh is All­Powerful, All­Wise.

2- Islam preserves money and forbids the foolish from wasting it, the foolish is a person who is either too young, or without mental stability.
4: 5. And give not unto the foolish your property which Allâh has made a means of support for you , but feed and clothe them therewith, and speak to them words of kindness and justice.

3- Money is an endowment from Allah, therefore it must be spent in ways He approves of.
 9:34. O you who believe! Verily, there are many of the (Jewish) rabbis and the (Christian) monks who devour the wealth of mankind in falsehood, and hinder (them) from the Way of Allâh (i.e. Allâh's Religion of Islâmic Monotheism). And those who hoard up gold and silver [Al-Kanz: the money, the Zakât of which has not been paid], and spend it not in the Way of Allâh, -announce unto them a painful torment.

4- Islam has a rule for property found without knowing its owner; it is not permissible for anyone to pick up any kind of lost property unless he can be sure that he will deal with it properly and that he is able to make the necessary announcements
The Messenger of Allah (peace and blessings of Allah be upon him) was asked about lost gold and silver. He said, ‘Know the details of the purse and the string, then announce it for a year. If no one claims it, then dispose of it, and it is like a trust in your hands. Then if the owner comes along some day, give it to him.” He was asked about the sheep, and he said, “Take it, because either it is for you, or your brother, or the wolf.” He was asked about lost camels, and he said, “What has it got to do with you? It has its water, it can walk to find water and it can eat trees until its owner finds it.”

5- Islam forbids not giving full measure and full weight during selling, buying or any other dealings.
6: 152. and give full measure and full weight with justice. We burden not any person, but that which he can bear.
83: 1. Woe to Al-Mutaffifin [those who give less in measure and weight (decrease the rights of others)], 2. Those who, when they have to receive by measure from men, demand full measure, 3. And when they have to give by measure or weight to men, give less than due.
17: 35. And give full measure when you measure, and weigh with a balance that is straight. That is good (advantageous) and better in the end.

6- Islam regulates the process of borrowing by legal documents.
2: 282. O you who believe! When you contract a debt for a fixed period, write it down. Let a scribe write it down in justice between you. Let not the scribe refuse to write as Allâh has taught him, so let him write. Let him (the debtor) who incurs the liability dictate, and he must fear Allâh, his Lord, and diminish not anything of what he owes. But if the debtor is of poor understanding, or weak, or is unable himself to dictate, then let his guardian dictate in justice. And get two witnesses out of your own men. And if there are not two men (available), then a man and two women, such as you agree for witnesses, so that if one of them (two women) errs, the other can remind her. And the witnesses should not refuse when they are called on (for evidence). You should not become weary to write it (your contract), whether it be small or big, for its fixed term, that is more just with Allâh; more solid as evidence, and more convenient to prevent doubts among yourselves, save when it is a present trade which you carry out on the spot among yourselves, then there is no sin on you if you do not write it down. But take witnesses whenever you make a commercial contract. Let neither scribe nor witness suffer any harm, but if you do (such harm), it would be wickedness in you. So be afraid of Allâh; and Allâh teaches you. And Allâh is the All-Knower of each and everything.

7- Paying off the debts is an obligation on those who are capable of doing so.
The Prophet (peace and blessings of Allah be upon him) said: “For a rich man to delay payment is wrongdoing.”
Islam also forbids asking for a loan with no intention of repaying it; to take anything of the wealth of a fellow-Muslim, unless it is given freely.
The Prophet (peace and blessings of Allah be upon him) said " “Whoever takes people’s money but he intends to pay it back, Allah will pay it back on their behalf, but whoever takes it and intends to destroy it, Allah will destroy him.” 

8- Islam forbids usury because it inflicts injustice to one of the parties.
2: 275. Those who eat Ribâ (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitân (Satan) leading him to insanity. That is because they say: "Trading is only like Ribâ (usury)," whereas Allâh has permitted trading and forbidden Ribâ (usury). So whosoever receives an admonition from his Lord and stops eating Ribâ (usury) shall not be punished for the past; his case is for Allâh (to judge); but whoever returns [to Ribâ (usury)], such are the dwellers of the Fire - they will abide therein.
The Messenger of Allah (peace and blessings of Allah be upon him) cursed ten people: the one who consumes ribaa, the one who pays ribaa, the one who writes it down, the two who witness it, the one who makes it lawful, the one for whom it is made lawful, the one who withholds sadaqah (charity), the one who does tattoos and the one for whom tattooing is done.”

9- Islam makes it mandatory to replace the item which a person borrows from someone else and wastes it, this is to ensure the rights of the owner, and to teach the borrower a lesson in how to guard and take good care of what he was entrusted with.
2: 194 Then whoever transgresses the prohibition against you, you transgress likewise against him

10- Islam urges defending personal properties, and gives the victim the right to kill the aggressor if he had to.
The Prophet (peace and blessings of Allah be upon him) said: “Whoever is killed defending his property is a shaheed (martyr), whoever is killed defending himself is a shaheed, whoever is killed defending his religion is a shaheed, and whoever is killed defending his family is a shaheed.”

11- Islam forbids wasting money needlessly, because the Almighty Allah hates extravagance for it is harmful to the people, and might lead them to become poor and unable to provide for their families.
57: 7. Believe in Allâh and His Messenger (Muhammad), and spend of that whereof He has made you trustees. And such of you as believe and spend (in Allâh's Way), theirs will be a great reward.
2: 195. And spend in the Cause of Allâh (i.e. Jihâd of all kinds, etc.) and do not throw yourselves into destruction (by not spending your wealth in the Cause of Allâh), and do good. Truly, Allâh loves Al-Muhsinûn (the good-doers).
 17: 26. And give to the kindred his due and to the Miskîn (poor) and to the wayfarer. But spend not wastefully (your wealth) in the manner of a spendthrift . 27. Verily, spendthrifts are brothers of the Shayatîn (devils), and the Shaitân (Devil ­ Satan) is ever ungrateful to his Lord.
 5:31. O Children of Adam! Take your adornment (by wearing your clean clothes), while praying and going round (the Tawâf of ) the Ka'bah, and eat and drink but waste not by extravagance, certainly He (Allâh) likes not Al-Musrifûn (those who waste by extravagance).
The Prophet (peace and blessings of Allah be upon him) said: “Allah has forbidden you to disobey your mothers, to bury infant girls alive, to withhold the rights of others, to demand what is not rightfully yours, to pass on everything that you hear, to ask too many questions and to waste money.”

12- Islam forbids the capable from begging and orders people to earn their living by working in all kinds of legal areas such as agriculture, and trading.
67: 15. He it is, Who has made the earth subservient to you (i.e. easy for you to walk, to live and to do agriculture on it, etc.), so walk in the path thereof and eat of His provision, and to Him will be the Resurrection.
The Prophet (peace and blessings of Allah be upon him) said: “No man eats better food than the one who earns it with his own hands. The Prophet (peace and blessings of Allah be upon him) of Allah Dawood (peace be upon him) used to eat from what he earned with his own hands.
The Messenger of Allah (peace and blessings of Allah be upon him) said: “For one of you to chop wood and carry it on his back is better for him than asking (begging) from anyone who will either give him something or refuse to give him anything.” 
The Prophet (peace and blessings of Allah be upon him) said “Asking (for help) is not permissible except in three cases: a man who has been stricken by poverty, (so obvious) that three wise men of his people would say that So and so is stricken by poverty. Then asking is permissible for him, so that he can get enough for his basic needs.”

23: 15. He it is, Who has made the earth subservient to you (i.e. easy for you to walk, to live and to do agriculture on it, etc.), so walk in the path thereof and eat of His provision, and to Him will be the Resurrection.
2: 172. O you who believe (in the Oneness of Allâh - Islâmic Monotheism)! Eat of the lawful things that We have provided you with, and be grateful to Allâh, if it is indeed He Whom you worship.
23: 51. O (you) Messengers! Eat of the Taiyibât [all kinds of Halâl (legal) foods which Allâh has made legal (meat of slaughtered eatable animals, milk products, fats, vegetables, fruits, etc.], and do righteous deeds. Verily! I am Well-Acquainted with what you do.
The Messenger of Allah (peace and blessings of Allah be upon him) said: “O people, Allah is Good and only accepts that which is good. Allah commanded the pious to follow the same commandments as He gave to the Messengers. He says (interpretation of the meaning):‘O (you) Messengers! Eat of the Tayyibaat [all kinds of Halaal (lawful) foods which Allah has made lawful (meat of slaughtered eatable animals, milk products, fats, vegetables, fruits)] and do righteous deeds. Verily, I am Well-Acquainted with what you do’ [al-Mu’minoon 23:51]
‘O you who believe (in the Oneness of Allah — Islamic Monotheism)! Eat of the lawful things that We have provided you with’ [2:172]
Then he mentioned a man who has traveled on a long journey and is dishevelled and covered with dust; he stretches forth his hands to the heaven, (saying) “O Lord, O Lord”, but his food is haraam (from unlawful means), his drink is haraam, all his nourishment is haraam, so how can his du’aa (prayer) be accepted?”
The Messenger of Allah (peace and blessings of Allah be upon him) said: “Whoever gives charity equal to a date from good (halal) earnings – for Allah does not accept anything but that which is good – Allah will take it in His right hand and tend it for the one who gave it as any one of you tends his foal, until it becomes like a mountain.”

14- Islam forbids being a miser, because it reflects distrust in Allah,  and deprives the poor from getting help which is a must.
17: 29. And let not your hand be tied (like a miser) to your neck, nor stretch it forth to its utmost reach (like a spendthrift), so that you become blameworthy and in severe poverty.
2: 195. And spend in the Cause of Allâh (i.e. Jihâd of all kinds, etc.) and do not throw yourselves into destruction (by not spending your wealth in the Cause of Allâh), and do good. Truly, Allâh loves Al-Muhsinûn (the good-doers).

15- Islam forbids all kinds of selling which involve ignorance (of the product), misleading and cheating; selling blood, wine, pork, idols and everything that Allah has forbidden - their price, whether bought or sold - is unlawful, forbids najash, which is offering a price for something one has no intention of buying, as happens in many auctions; concealing a product’s faults at the time of selling; selling something which one does not own or before it comes into one’s possession; undercutting, outbidding or out bargaining another; selling produce before it is clear that it is in good condition and free of blemish.

16- It is forbidden to bet or gamble; to take anything by force; and to accept or offer bribes.



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