Islam provides a complete code of conduct and a perfect way of the life for entire humanity all the times. It promotes honesty, unity, simplicity, brotherhood and above all it promotes modernization in every aspect of human life. The faith of Islam is based on universalisation and international citizenship. Being a complete way of life, Islam has not left the ways and means of trade and commerce unaddressed ,as it plays a vital role in the economy of a nation. Trade and commerce have always been of prime importance in Islam. The Prophet Mohammad SAW and his wife KHADIJA RA were both merchants. The holy city of MECCA had been the centre for commercial activities since pre-Islamic days. Quran is filled with parables of using the language of trade. Although early Muslims were not fully engaged in trade still they travel to distant lands in connection with businesses. It were merchants , not only the soldiers who were responsible for spread of Islam throughout the globe. Prophet Mohammad SAW was himself engaged in business before he became Prophet. HE proved to be the most honest and successful businessman in whole Arab; his way of doing business became a model for entire humanity. Because of the fact that his business was based on the guidelines as provided by the creator of the universe.
Quran lays down a comprehensive framework regarding interest and debts, Contracts and Wills, Industry and Commerce, Finance and Banking etc.Islam has always encouraged business activities all the times. It not only inspires people for the trade but also gives such principles which are universal in nature and results in success of this world and the world here after. The instructions and constrains as given by Islam abstains people from the exploitation of others rights.
Holy Quran says,Oh Muslims! Trade should be regarding your will & consents dont usurp others money.
Allah says in Holy Quran Chapter 4 Surah Nisa Verses 29,O you who believe! Dont devour one anothers property by unlawful ways; but do business with mutual consent.
This verse reveals that Islam dont allow us to grab the property of others (Whether believer or non-believer) in an unlawful or illegal ways. But we are directed to acquire wealth and property any lawful trading activity based on the teachings of Holy Quran and Sunnah.Thus business activities should not mere aimed at maximization of wealth by charging higher margins .But should be aimed at serving society along with earning profits. In this way the optimum growth and development will be made possible in all the regions and income groups. There will be equitable distribution of wealth , thus will curb the element of capitalism from the economy. And eradicate the menace of poverty.
A businessman must be careful while carrying out his business activities. He has to take in consideration weights and measures while exchanging value in goods with value in money.
Allah sys in Holy Quran Chapter 11 Surah Hudd Verse 85 ,And O my people ! give first measure and weight, nor withhold from the people the things that are their alone: commit not evil on the land with intent to do mischief.
Therefore it is mandatory on the part of the part of traders to sell the goods in a quantity to customers which is due to them. In a business transaction there must be appropriate exchange of value in terms of quantity as well as quality of goods. i.e., the value given to a customer in terms of goods must confer to the value of money charged to him. In this way honesty will be promoted.
As Allah says in Surah Muttafafefen verses 1-3,
Woe to those that deal in fraud, those who ,whom they have to receive by measure from men, exact full measure, But when they have to given measure or weight to men, give less than due.
These verses reveal that , worst punishment will be given to the traders who dont pay due attention towards weights and measurements in buying and selling. In contrary to that, honest traders and businessmen are promised of great rewards on the day of judgment.
The Prophet Mohammad SAW said,An honest and truthful businessmen shall be in the shade of throne of Allah..
Islam has not permitted selling of defective goods (unless their defects are disclosed to the customer) to make undue profits out of them.All the specifications must be made clear to the customer before selling a product. Defects if any should be disclosed so as to allow him to take decision regarding buying the product.
Prophet Mohammad SAW said, Whosoever sells a defective product without disclosing its defect to the purchaser, shall earn the permanent anger of Almighty Allah And Angles continuously curse such a person.
Islam prohibits any act of dishonesty in business and allows normal trade at reasonable profits; with a due quantity and quality in return to the value received from the buyer.
One of the important principle of trade or business is mutual respect and consideration for others in the community. Along with the self-interest a businessman has to take care of the interests of the people living in the community as a whole. A businessman shouldnt take any action for his self-interests that will harm the community or environment. Any action taken by a businessman should prove fruitful to him as well as to the community as a whole. This will establish a strong bond between business house and the society, of which the businessman is a part.
Islam has not permitted any kind of transaction involving uncertainty . Because of the fact that such transactions result in conflict in the future. The permission of such transactions is thus based on the element of uncertainty . If it is very small, such transactions are permissible. Prophet SAW has prohibited sale of fruits till they are ripened in order to protect both buyer and seller from the loss that may be caused due to any natural hazard.
Islam not only prohibits buying and selling of illegal goods, but also selling of legal goods is prohibited if there is apprehension of such goods being used for illegal purposes. For Example, selling of paracatamol as a medicine to cure headache is legal, but is illegal if the same drug is sold to a person who is addicted to use paracatamol as a drug.
So as a guide to Muslims, Islam instructs and guides a Muslim to adopt the principles of honesty, justice, mutual trust, respect for humanity, avoidance of unlawful acts, charging of reasonable and exchanging values in due weights and measurements; in his business activities in order to be successful in this world and the world here after. He has to be honest in his business conduct to unfold various rewards as promised by Almighty Allah.
Khursheed Nabi, Wagoora Baramulla can be reached at Khursheedmalla47@gmail.com
