Golden Words of Allah

By Abdullahi Yusuf

In the name of Allah, the Beneficent, the Merciful. All perfect praise be to Allah, may He be glorified and exalted, the Lord of the Worlds. I testify that there is none worthy of worship except Allah and that Muhammad, sallallaahu ‘alaihi wa sallam, is His slave and Messenger.

Allah says concerning; Ethics of trade and business.

The ethics of trade and business in Islam are rooted in fairness, honesty, and responsibility, with clear guidance provided in the Quran and Hadith. Islam encourages commerce but emphasizes the need for ethical conduct, ensuring the welfare of all parties involved. The principles laid out aim to promote justice, prevent exploitation, and create a balanced and equitable economic system.

1. Honesty in Trade:
The Quran stresses the importance of honesty in all business dealings. Traders are expected to be truthful in their transactions and avoid deceit or misrepresentation.
Quranic reference Surah Al-Baqarah (2:188): “And do not consume one another’s wealth unjustly or send it [in bribery] to the rulers in order that [they might aid] you [to] consume a portion of the wealth of the people in sin, while you know [it is unlawful].”
Hadith reference Sahih Al-Bukhari, Book 34, Hadith 292: “The Prophet (PBUH) said: ‘The seller and the buyer have the right to keep or return goods as long as they have not parted. If they tell the truth and make clear [the defects of the goods], they will be blessed in their transaction, and if they tell lies or hide something, the blessings of their transaction will be wiped out.’”

2. Fairness in Weights and Measures: Islam commands that business dealings must be fair, particularly in terms of weights and measures, ensuring that customers receive exactly what they are paying for.
Quranic reference Surah Al-Mutaffifin (83:1-3): “Woe to those who give less [than due], who, when they take a measure from people, take in full. But if they give by measure or by weight to them, they cause loss.”
Hadith reference Sunan Ibn Majah, Book 12, Hadith 2220: “The Prophet (PBUH) passed by a heap of grain and put his hand into it, finding it wet. He said to the owner: ‘What is this?’ The man replied: ‘It was damaged by rain, O Messenger of Allah.’ He said: ‘Why did you not put the wet grain on top so people could see it? He who deceives is not of us.'”

3. Prohibition of Fraud:
Fraud, deception, and manipulation in trade are strictly prohibited. Businesspersons are encouraged to be transparent about the quality and condition of their goods or services.

Hadith reference (Sahih Muslim): The Prophet Muhammad (PBUH) once saw a man selling food and placed his hand inside the sack to find it wet, even though it looked dry on top. The Prophet said: “He who deceives is not of us.”

4. Avoiding Exploitation and Riba (Usury):
The Quran forbids riba (usury or interest) as it leads to exploitation and economic injustice. Instead, Islam promotes trade and partnerships that are mutually beneficial. 

Quranic reference Surah Al-Baqarah (2:275): “Allah has permitted trade and has forbidden interest.”
Hadith reference Sahih Muslim, Book 10, Hadith 3859: “The Messenger of Allah (PBUH) cursed the one who accepts riba (usury) and the one who gives it, and the one who records it, and the two who witness it, and he said: ‘They are all equal.'”

5. Trust and Accountability:
Islam places great emphasis on fulfilling trust and being accountable in business. Merchants are expected to maintain a good reputation by adhering to ethical standards.
Hadith reference (Sunan Ibn Majah): “The truthful and trustworthy merchant will be with the Prophets, the truthful, and the martyrs.”

6. Respecting Contracts and Agreements:
Respecting contracts is a key part of business ethics in Islam. Fulfilling contracts and agreements is viewed as a religious obligation.
Quranic reference Surah Al-Ma’idah (5:1): “O you who have believed, fulfill [all] contracts.”
Hadith reference Sahih Al-Bukhari, Book 34, Hadith 315: “The Prophet (PBUH) said: ‘Whoever enters into an agreement should not alter its conditions unless both parties agree.'”

Conclusion

The ethics of trade and business in Islam are built on the foundations of honesty, fairness, and social responsibility. Islam encourages lawful commerce that benefits individuals and society, while condemning exploitation, dishonesty, and greed. By adhering to these principles, business transactions are not only profitable but also spiritually rewarding.

And Allah knows best…

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