Money Matters

Money has entered in our lives like anything in this age of materialism. However, we can not deny its importance in our lives also because this is also a requirement for feeding ourselves, our family and all those dependent over us. We have to decide our priorities, our conduct and our behavior in respect of money matters in the light of the preaching of Holy Prophet [PBUH] in order to practice the same. This article is an endeavour to highlight some key concepts we already know but a review may be useful for the revival of our memory.

Business conduct

We all are almost involved in some sort of businesses. Some of us really doing businesses while the rest are on jobs but have some sort of business. The success of business lies in the key concept of patience and kindness. Hazrat Jabir related that the Prophet said: May Allah show mercy to a man who is kind when he sells, when he buys, and when he makes a claim (Bukhari).

Abu Said related that the Prophet said: The truthful and trustworthy businessman will be in the company of Prophets, saints and martyrs on the Day of Judgment. (Tirmidhi)


As we know that borrowing money on interest is not a sin and such person is basically entering into a war with Allah [SWT] and Last Prophet [PBUH] by doing so. A weaker opponent in war is always restless and in continual tension. As Allah [SWT] is our opponent in the war, when we take money on interest, hence, one will be in severe tension and restlessness. The core reason is that Opponent is Al mighty the Creator [SWT] and Last Prophet [SWT].

“Allah will deprive usury of all blessing, but will give increase for deeds of charity” (Quran 2: 276). Narrated Jabir ibn Abdullah: Allah's Messenger cursed the accepter of interest and its payer, and one who records it, and the two witnesses; and he said: They are all equal (Muslim). Abu Huraira related that the Prophet said: On the night of the Miraj I came upon a group of people whose bellies were like houses. They were full of snakes which could be seen from outside their bellies. I asked Gabriel who they were, and he told me that they were the people who had practiced Riba (Interest) (Ibn Maja).

Abdullah ibn Hanjalah related that the Prophet said: A dirham of Riba (interest) knowingly taken by a man is a sin worse than committing Zina (fornication) 36 times (Ahmad).


It is narrated by Abu Musa Ashari that the Prophet said: After the major sins which must be avoided, the greatest sin is that someone dies in a state of debt and leaves behind no asset to pay it off (Darimi).


Abu Qatadah related that the Prophet said: If anyone would like Allah to save him from the hardships of the Day of Resurrection, he should give more time to his debtor who is short of money, or remit his debt altogether. (Muslim)


this is just for the purification of your money and it basically increases your wealth. Assume that there are only two people living in the whole world, you and your servant. You have a general store and you normally pay zakat to your servant. Just ask yourself, where the servant will utilize this zakat – obviously purchasing necessary items from your store.

“And they are ordained naught else than to serve Allah, keeping religion pure for Him, as men by nature upright, and to establish worship and to pay the poor-due (Zakat). That is true religion.” (Quran 98:5). Hazrat Abbas related that a man asked the Prophet, Tell me what should I do to be admitted to Paradise and he (the Prophet) answered: Worship Allah associating nothing with Him, observe Salat, pay Zakah and strengthen the ties of kinship. (Bukhari, Muslim).

Inheritance and wills

“And unto each We have appointed heirs of that which parents and near kindred leave; and as for those with whom your right hands have made a covenant, give them their due. Lo! Allah is ever Witness over all things” (Quran 4:33).
Ibn Umar related that the Prophet said: It is the duty of a Muslim man who has something which is to be given as a bequest not to have it for two nights without having his will written regarding it. (Bukhari, Muslim). This will have two impacts over our minds – we will always remember that we may die at any point of time and whatever is with us will be left in this world and cannot be used thereafter.

Hazrat Anas related that the Prophet said: If anyone deprives an heir of his inheritance, Allah will deprive him of his inheritance in Paradise on the Day of Resurrection. (Ibn Maja).

How do you earn your money?

Abu Huraira narrated that the Prophet said: A time will come upon the people when one will not care how one gains one's money, legally or illegally. (Bukhari)

It is reported by Jabir that the Prophet said: The flesh and body that is raised on unlawful sustenance shall not enter Paradise. Hell is more deserving to the flesh that grows on one's body out of unlawful sustenance. (Ahmad). Abu Said related that the Prophet said: The truthful and trustworthy businessman will be in the company of Prophets, saints and martyrs on the Day of Judgment. (Tirmidhi)

Strive with your wealth

“Believers are merely those whose hearts feel wary whenever God is mentioned and whose faith increases when His verses are recited to them. On their Lord do they rely. Those who keep up prayer and spend some of what We have provided them with are truly believers” (Quran 8:2-4).

Hazrat Asamah related that the Prophet said: Spend, and do not count, lest Allah counts against you. Do not withhold your money, lest Allah withholds from you. Spend what you can. (Bukhari, Muslim). Abu Huraira related that the Prophet said: The Lord's commandment for every one of His slaves is, ‘Spend on others, and I will spend on you'. (Bukhari, Muslim).

The poor and your wealth

“Hast thou observed him who belieth religion? That is he who repelleth the orphan, and urgeth not the feeding of the needy” (Quran 107: 1-3).

Safwan ibn Salaim related that the Prophet said: Anyone who looks after and works for a widow and a poor person is like a warrior fighting for Allah's cause, or like a person who fasts during the day and prays all night. (Bukhari)


“O you who believe! Lo! Many of the (Jewish) rabbis and the (Christian) monks devour the wealth of mankind wantonly and debar (men) from the way of Allah. They who hoard up gold and silver and spend it not in the way of God, unto them give tidings (O Muhammad) of a painful doom” (Quran 9:34).

Charity and punishment

It is narrated by Anas bin Malik that the Prophet said: Verily charity appeases the wrath of Allah and eases the sufferings of death (Tirmidhi).

Women and Charity

Ibn Abbas narrated that the Prophet went out for the Eid prayer on the Eid day and offered a two Rakat prayer; and he neither offered a prayer before it or after it. Then he went towards the women along with Bilal. He preached [to] them and ordered them to give in charity. And some (amongst the women) started giving their forearm bangles and earrings. (Bukhari)

“Give the kinsman his due, and the needy, and the wayfarer, and squander not (your wealth) in wantonness. Lo! the squanderers were ever brothers of the devils, and the devil was ever an ingrate to his Lord” (Quran 17:26-27).

Amr ibn Shuaib, on his father's authority said that his grandfather related that the Prophet said: When you eat, drink, give charity and wear clothes, let no extravagance or pride be mixed up with what you do (Ibn Maja, Nasai).


Abu Huraira narrated that the Prophet said: Every day two angels come down from Heaven and one of them says, 'O Allah! Compensate every person who spends in Your Cause,' and the other (angel) says, 'O Allah! Destroy every miser [saver]' (Bukhari). Abu Said Khudri related that the Prophet said: There are two habits which are never present together in a believer: miserliness and bad manners (Tirmidhi).

Jabir reported that the Prophet said: Avoid doing injustice to others, for on the Day of Judgment, it will turn into manifold darkness, and safeguard yourself against miserliness, for it ruined those who were before you. It incited them to murder and treating the unlawful as lawful (Muslim).

Moderation in charity

“And let not thy hand be not chained to thy neck nor open it with a complete opening, lest thou sit down rebuked, denuded” (Quran 17:29). “And those who, when they spend, are neither prodigal nor grudging; and there is ever a firm station between the two” (Quran 25:67).


“And eat not up your property among yourselves in vanity, nor seek by it to gain the hearing of the judges that you may knowingly devour a portion of the property of others wrongfully” (Quran 2:188).


Abu Huraira narrated that the Prophet said: Wealth is not in having vast riches, it is in contentment. (Bukhari, Muslim).

Envy in wealth

Ibn Masud said I heard the Prophet saying: There is no envy except in two: a person whom Allah has given wealth and he spends it in the right way, and a person whom Allah has given wisdom (i.e. religious knowledge) and he gives his decisions accordingly and teaches it to the others (Bukhari).

The Best Charity

Abu Huraira narrated that the Prophet said: The best charity is that which is practiced by a wealthy person. And start giving first to your dependents. (Bukhari)

On Begging

Narrated Hakim bin Hizam that the Prophet said: The upper hand is better than the lower hand (i.e. he who gives in charity is better than him who takes it). One should start giving first to his dependents. And the best object of charity is that which is given by a wealthy person (from the money which is left after his expenses). And whoever abstains from asking others for some financial help, Allah will give him and save him from asking others, Allah will make him self-sufficient. (Bukhari)

Abu Huraira related that the Prophet said: He who makes a habit of asking from others reaches out for a brand of Fire, so let him refrain or continue, as he desires. (Muslim)


All the above referred have been known to us since our childhood, but the problem lies in its lack of application. However, this problem could be minimized if we first have a belief.

The author is an International tax advisor and teaching UK and Pakistani Taxation at various approved colleges of ICAP and ACCA. He is also a member of publication committee of ICAP. His articles on taxation and corporate law have been published in leading local and foreign newspapers and journals. He can be contacted at mdashraf73@accamail.com

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