Hadith on Islamic Finance #17
Theme: The Virtue of Merchant & Business Allah’s messenger (ﷺ) said: “Riches does not mean having a great amount of
Hadith on Islamic Finance #18
Theme: The Virtue of Merchant & Business Allah’s messenger (ﷺ) said: “The buyer and the seller have the option of
Hadith on Islamic Finance #19
Theme: The Virtue of Merchant & Business Allah’s messenger (ﷺ) said: “By the being in whose hand is my life,
Hadith on Islamic Finance #20
Theme: The Virtue of Merchant & Business Allah’s messenger (ﷺ) said: “O people of trade! Indeed the Shaitan and sin
Hadith on Islamic Finance #21
Theme: The Virtue of Merchant & Business Allah’s messenger (ﷺ) said: ““No doubt, one had better take a rope
Hadith on Islamic Finance #22
Theme: The Virtue of Merchant & Business Allah’s messenger (ﷺ) said: “Two wolves free among sheep are no more destructive
Hadith on Islamic Finance #23
Theme: Business Etiquette in Islam Allah’s messenger (ﷺ) said: The Prophet (ﷺ) said, “The haughty, even with pride equal to
Hadith on Islamic Finance #24
Theme: Business Etiquette in Islam Allah’s messenger (ﷺ) said: “Whoever has the following four (characteristics) will be a pure hypocrite
Hadith on Islamic Finance #25
Theme: Business Etiquette in Islam Allah’s messenger (ﷺ) said: “Whoever (agrees) with a Muslim to rescind transaction (which he/she regretted),
Hadith on Islamic Finance #26
Theme: Business Etiquette in Islam Allah’s messenger (ﷺ) said: “Beware of excessive swearing in sale transactions, for it sells (the
Hadith on Islamic Finance #27
Theme: Business Etiquette in Islam The Messenger of Allah (ﷺ) happened to pass by a heap of eatables (corn). He
Hadith on Islamic Finance #28
Theme: Business Etiquette in Islam The Messenger of Allah (ﷺ) said, “The Muslim is the brother of another Muslim, and
Hadith on Islamic Finance #29
Theme: Business Etiquette in Islam It was narrated that ‘Abdullah bin ‘Amr bin al-Aas ( ) said that: “Allah’s Messenger
Hadith on Islamic Finance #30
Theme: Business Etiquette in Islam It was narrated that Jabir bin ‘Abdullah( ) said that: “A townsman should not sell
Hadith on Islamic Finance #31
Theme: Business Etiquette in Islam Allah’s Messenger (ﷺ) said:“Flesh which has grown out of what is unlawful will not enter
Hadith on Islamic Finance #32
Theme: Muamalah Virtues Allah’s Messenger (ﷺ) said: “Give the worker his wages before his sweat dries.” (Source: Sunan Ibn Majah,
Hadith on Islamic Finance #33
Theme: Business Ethics in Islam It was narrated by Ibn ‘Umar (may Allah be pleased with them both) that a
Hadith on Islamic Finance #34
Theme: Business Ethics in Islam Narrated by Abu Hurairah (may Allah be pleased with him), that the Messenger of Allah
Hadith on Islamic Finance #35
Theme: Muamalah Virtues Narrated by Abu Hurairah (may Allah be pleased with him), that The Prophet (ﷺ) said, “There was
Hadith on Islamic Finance #36
Theme: Muamalah Virtues Sakhr al-Ghamidi (may Allah be pleased with him) that the Prophet SAW said: “O Allah, bless my
Hadith on Islamic Finance #37
Theme: Muamalah Virtues It was narrated from Abu Hurairah (may Allah be pleased with him) that the Messenger of Allah
Hadith on Islamic Finance #38
Theme: Muamalah Virtues It was narrated that Anas (may Allah be pleased with him said): when this verse was revealed
Hadith on Islamic Finance #39
Theme: Muamalah Virtues It was reported by Jabir bin Abdullah (may All be pleased with him) that the Messenger of
Islamic Economics: Wage Maximization
It is proposed that the wage maximization is one of the fundamental principles of Islamic economics, and should be counterposed to the profit maximization principle of private capital. Wage maximization needs to be analyzed for both the macroeconomy as well as for the microeconomy, since wage maximization has to be realized at the level of the firms of the microeconomy. A mathematical model for the Islamic macroeconomy is postulated that determines how to maximize macroe conomic wages. A model for a firm is proposed that pays minimum wages based on macroeconomic wage maximization. Wages can be further augmented by wages having a variable component based on profit and loss sharing with the firm, and which entails a degree of risk. Fixing the variable wage component results in the rate of profit of all firms becoming equal to the macroeconomic wage maximizing macroeconomic rate of profit.
