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Commercial Morality Part 2 PDF Print E-mail

Cash Register
Cash Register
The Quraan states: ‘When the (Friday) prayer is complete, disperse through the land and seek the bounty of Allah (through trade or lawful activity.’ The Hadith tells us that ‘The quest of halaal earning is a duty after a duty.’ Thus, seeking a halaal sustenance is a religious obligation second in importance to religious observances like prayer, fasting, etc. Here is the second aspect of Islamic commercial morality:

B. Justice
1. Hoarding. Ali radhiallahu anhu said: ‘When a man hoards food stuff (refuses to sell) even for a day, in order to gain from a price hike, his heart becomes hard.’
2. Fraud. Uqba radhiallahu anhu said: ‘It is illegal for a person to knowingly sell defective (flawed) merchandise, without informing him (the buyer, of the defect).’ The Prophet sallallahu alaihi wa sallam said: He who regards the unlawful as lawful, does not believe in the Quraan. Deceit in buying and selling is unlawful.’
3. Monopoly. The Prophet sallallahu alaihi wa sallam said, ‘Whoever monopolizes is a sinner.’
4. Interest. ‘Allah will deprive usury (interest) of all blessings but will give increase for deeds of charity.’ (Quraan)
5. Regulated Prices. Anas radhiallahu anhu says: ‘Once they (the Companions) asked the Prophet sallallahu alaihi wa sallam to fix prices. He replied: ‘Allah alone is the regulator of prices; He curtails or provides amply…’
Adapted from Jamiatul Ulama Fordsburg
Part One | Part Three
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