Hadith on Islamic Finance #25

Table of content

Theme: Business Etiquette in Islam

Allah’s messenger (ﷺ) said:

“Whoever (agrees) with a Muslim to rescind transaction (which he/she regretted), Allah will forgive his sins on the Day of Resurrection”.

Narrated by Abu Hurairah رضي الله عنهما

(Source: Sunan Abi Dawood, hadith No. 3460 | Sunan Ibn Majah, hadith No. 2199)

Blessing and forgiveness are the rewards for those who practice leniency, kindness and understanding in their transaction. It is a commendable act in Islam for a seller to accept the request to rescind a transaction (beyond the refund policy duration) due to the buyer’s regret on his/her purchase.

This shows that Islamic business is not only about halal profits. Rather, it is also about observing the virtues of compassion, mercy, and understanding in our dealings. In another hadith, our beloved Prophet (ﷺ) said: “verily Allah is kind and He loves kindness and rewards upon kindness which he does not reward upon harshness”.

May we be granted forgiveness and mercy by following leniency, kindnesses, and understanding promised in the hadith.

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