5 Essential Islamic Teachings on Wealth

Shakira
Post : October 28, 2022

Our duty as Muslims is to live our lives focusing on the Hereafter. We try our best every day by making sacrifices and the pleasures of this world to enjoy the bounties of the Aakhirah. Though we are taught to keep ourselves distracted from the mere pleasures of Dunya, there are some basic needs for us as humans to survive. Yes, we're talking about wealth! Can we do without it? Of course, not! Islam clearly teaches us the proper ways of obtaining and spending wealth.

Let us see what Islam teaches us and how it guides us. 

Do Not Let Wealth Distract You From Your Real Purpose Of Existence

Wealth is a worldly matter; this is how a real believer would deal with it. It can be a distraction from our real purpose as it does not follow us after death, even though it gives us pleasure in this life. 

The Quran warns us Muslims to protect ourselves from greed. Islam advises us against saving and hoarding huge amounts of money. Instead, money should always be distributed to the poor and the needy after you've got some. 

Always Earn Wealth In A Lawful Manner

It is not acceptable for Muslims to earn their wealth unjustly or unlawfully. The Quran emphasises acquiring wealth unlawfully in Surah An-Nisa :

"O believers! Do not devour one another's wealth illegally, but rather trade by mutual consent. And do not kill each other or yourselves. Surely Allah is ever Merciful to you." (Quran 4:29)

Muslims must always earn in a halal way, refrain from buying or selling things that Allah has forbidden us, and refrain from getting involved in haram activities. Earning lawfully means abstaining from stealing, lying, cheating and avoiding involvement in businesses that involve haram things such as alcohol, gambling, pork, interest etc. 

Spend Wealth On Charity

The Quran often mentions charity as one of Islam's five pillars. Giving wealth in the form of charity is the duty of all Muslims who are able to do so. Charity cleanses wealth and is an easy way for a Muslim to earn great rewards. Islam advises spending our wealth on the poor, needy and orphans. 

This can be done even if one does not have huge sums of money. After all, Allah is pleased and will reward even the smallest act spent in the form of charity. A great example is our Prophet Muhammed (peace be upon Him), who always provided for others before himself and spent his wealth on charity. It is clearly mentioned in the Quran in Surah Baqarah, Verse 177 -

 

Righteousness is not in turning your faces towards the east or the west. Rather, the righteous are those who believe in Allah, the Last Day, the angels, the Books, and the prophets; who give charity out of their cherished wealth to relatives, orphans, the poor, needy, travellers, beggars, and for freeing captives; who establish prayer, pay alms-tax, and keep the pledges they make; and who are patient in times of suffering, adversity, and in the heat of battle. It is they who are true in faith, and it is they who are mindful of Allah. (Quran 2:177)

One must always learn to live a simple life and never be greedy. 

Wealth Does Not Decrease When Spent In The Way Of Allah

Charity increases wealth, and in no way does it decrease when spent in the way Allah has commanded us to. For every amount of wealth spent towards charity, Allah will always bless and replace it with something better. This is well expressed in the Quran in Surah Baqarah Verse 261 -

The example of those who spend their wealth in the cause of Allah is that of a grain that sprouts into seven ears, each bearing one hundred grains. And Allah multiplies the reward even more to whoever He wills, for Allah is All-Bountiful, All-Knowing.  (Quran 2:261) 

A True Believer Does Not Fear Poverty

Fearing poverty means that you, as a Muslim, do not have strong faith. A true believer does not fear poverty as he believes Allah is the provider, so He will provide for them. 

Pagans, before the time of Islam, killed their children in fear of poverty. This practice was changed after the introduction of Islam, and the following Quranic Verse from Surah Al-An'am was revealed -

Say, O Prophet, "Come! Let me recite to you what your Lord has forbidden to you: do not associate others with Him in worship. Do not fail to honour your parents. Do not kill your children for fear of poverty. We provide for you and for them. Do not come near indecencies, openly or secretly. Do not take a human life—made sacred by Allah—except with legal rights. This is what He has commanded you, so perhaps you will understand. (Quran 6:151)

Benefits of following the Islamic teachings on wealth

  • Strengthens one's faith
  • Prayers will be accepted
  • Receiving Allah's protection
  • Be honoured on the Day of Judgement
  • Receive the blessings of Allah

Adverse effects of Unlawful earning

  • Income will be reduced
  • Deprived of Allah's blessings
  • Prayers will not be answered

Conclusion

Mentioned above are just the many's five essential Islamic teachings on wealth. Islam recommends earning wealth through hard work as it is one of the blessings of Allah given to mankind. This is why Afiyah Financial Services walk the extra mile to help you find halal home loans for your dream home. 

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