Be cautious in your financial dealings – don’t be naive or duped
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Be cautious in your financial dealings – don’t be naive or duped

Once, Umar bin Khatab (may Allah be pleased with him) presided over a court case where he was dubious about the credibility of a witness so asked to speak to someone who knew him, to obtain a reference. One of the men present volunteered that he knew the witness. A man once gave his testimony…

What is the best source of income?
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What is the best source of income?

The Prophet Muhammad (peace be on him) was once asked what type of earning is the best. عَنْ رِفَاعَةَ بْنِ رَافِعٍ ‏- رضى الله عنه ‏- أَنَّ اَلنَّبِيَّ ‏- صلى الله عليه وسلم ‏-سُئِلَ: أَيُّ اَلْكَسْبِ أَطْيَبُ؟ قَالَ: { عَمَلُ اَلرَّجُلِ بِيَدِهِ, وَكُلُّ بَيْعٍ مَبْرُورٍ } رَوَاهُ اَلْبَزَّارُ، وَصَحَّحَهُ اَلْحَاكِمُ.‏ Rifa’a bin Rafi’ (may Allah…

Monopolies on basic necessities are un-Islamic
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Monopolies on basic necessities are un-Islamic

There are many narrations which show that the Prophet (peace be upon him) prohibited monopolies in Islam. عَنْ عُمَرَ رَضِيَ اللَّهُ عَنْهُ عَنِ النَّبِيِّ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ قَالَ: «الْجَالِبُ مَرْزُوقٌ، والمحتكر مَلْعُون» . رَوَاهُ ابْن مَاجَه والدارمي. ‘Umar (may Allah be pleased with him) reported the Prophet (peace be upon him) as saying: “He…

Money, money, money – wanting it, pinching it, spending it and repaying it
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Money, money, money – wanting it, pinching it, spending it and repaying it

Khaula Al-Ansanya (may Allah be pleased with her)* narrated that Allah’s Messenger (peace be upon him) said: وَعَنْ خَوْلَةَ اَلْأَنْصَارِيَّةَ ‏-رَضِيَ اَللَّهُ عَنْهَا‏- قَالَتْ: قَالَ رَسُولُ اَللَّهِ ‏- صلى الله عليه وسلم ‏-{ إِنَّ رِجَالاً يتخوَّضون فِي مَالِ اَللَّهِ بِغَيْرِ حَقٍّ, فَلَهُمْ اَلنَّارُ يَوْمَ اَلْقِيَامَةِ } أَخْرَجَهُ اَلْبُخَارِيُّ “Some men wrongfully acquire (and spend) from…

Spending vs saving – the concept of wealth in Islam
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Spending vs saving – the concept of wealth in Islam

Allah Almighty says in Surah Duha: ‘Of the favours of your Lord, proclaim them.’ (93:11) This means to show what Allah has given to you, not hide it away. This does not mean Allah Almighty wants us to show off but to show our appreciation and gratitude for what He bestowed on us. Allah Almighty…

Debts and Contracts in Islam
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Debts and Contracts in Islam

Debts – The Nitty Gritty How is it is relevant to us today?  Why did Allah Almighty reveal the longest ayah of the Qur’an about debt? Simply, money concerns us all. All our dealings have financial repercussions. Ayat ul dain (2:282), the longest ayah of the longest surah of the Qur’an relates to debts and contracts. ‘Dain’…

Confused about Mortgages
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Islamic Mortgages, Insurance and Loans

Stuck between a Rock and Hard Place Confused.com …about Mortgages, Insurance and Banking The Dangers of Riba Riba literally means increase. Known widely as ‘interest’ and ‘usury’, it is the charge levied for ‘using’ money. In other words, it is where one party makes a profit through lending to another party. It is the increase…

Black Friday A Muslim's Guide to spending
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Here comes Black Friday – the Muslim’s Guide to Spending

Spending Wisely – Avoid the Mania Black Friday – Shopping Mania I have no problem with shopping per se. Islam has no problem with shopping, but do we really buy what we need? Or are we sucked into a frenzy of hastiness which is condemned many times in the Qur’an and in the sunnah of…