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…
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…
Spend Allah Almighty says in the Quran: Those who spend their wealth by night and day, secretly and openly, have their reward with their Lord; on them shall come no fear nor shall they grieve. (2:275) This description of the Ummah of Muhammad (peace be on him) is those who work 24/7 spending and supporting…
There are so many verses in the Quran which emphasise this and so many hadith in the sunnah of the Prophet (peace be upon him) again talking about the importance of connecting blood ties. Life span and rizq Abu Hurayrah (may Allah be pleased with him) narrated from the Prophet (peace be upon him): He…
In Surat al Isra, Allah Almighty says: Whoever desires the immediate benefits from life, We expedite for him what We decide to give him, to whomever We desire. Then We assign Jahannam for him, where he will enter, condemned and defeated. But whoever desires the Hereafter, and pursues it as it should be pursued, while…
Your rizq Rizq (your provision) is mentioned in many verses of the Quran, for instance in Surat adh-Dhariyat, Allah Almighty says: I did not create the jinn and the humans except to worship Me. I need no livelihood (rizq) from them, nor do I need them to feed Me. God is the Provider(Ar-Razzaq), the One…
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…
Are you in control or under control? In his chapter on greed (at tama’: الطمع), long before Imam Al Ghazali wrote about spirituality, the third century scholar Imam Muhasibi (died in 857AD/243H) has his own unique take on it, and explored it in his beautiful and deep book Ādāb un Nufus. He said you should…
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’…
THE LOW DOWN ON BORROWING AND LENDING What Everyone Should Know A loan is a loss on paper. The lender has no access to that money until it is repaid. Yet there are times when we need to borrow and others when we are in a position to lend. In fact, the Prophet (peace…
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…
RIBA – Worse Than Any Other Vice Neither Wrong Nor Be Wronged What is riba? How bad is it? Why did Allah Almighty ban it? Finance is so complicated now. Aren’t times different now from then. Do the ayahs on riba still apply today? At the time the Qur’an was revealed, an atmosphere of greed and…
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…
What do I need to know about Rizq? We spend our lives chasing our rizq. Trying to make ends meet, to increase our wealth and spending it. What do we need to keep in mind? The Prophet (peace be on him) said, ‘Oh people, nothing makes you closer to Allah Almighty, and closer to jannah…
Allah the Almighty says in the Qur’an: ‘It is He who created for you all that is on the earth.’[i] And in another verse He says: ‘It is He who made the earth manageable for you.’[ii] And in another verse Allah the Almighty says: ‘For God’s favours to them during their summer and winter…