Lesson 3: Wealth in Islam and Intentions in Islamic Finance

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Wealth in Islam and Intentions in Islamic Finance

How much wealth is okay?

Wealth is a resource that is given by Allah to mankind for us to use in our worldly matters. It is a blessing that can either be used wisely or corruptively. However, in Islam, is there such a thing as being wealthy and being problematic, or is having too much wealth wrong? Allah’s messenger (ﷺ) would regularly supplicate and would pray after the daily prayers where he would say:

حَدَّثَنَا مُوسَى بْنُ إِسْمَاعِيلَ، حَدَّثَنَا سَلاَّمُ بْنُ أَبِي مُطِيعٍ، عَنْ هِشَامٍ، عَنْ أَبِيهِ، عَنْ خَالَتِهِ، أَنَّ النَّبِيَّ صلى الله عليه وسلم كَانَ يَتَعَوَّذُ ‏ “‏ اللَّهُمَّ إِنِّي أَعُوذُ بِكَ مِنْ فِتْنَةِ النَّارِ وَمِنْ عَذَابِ النَّارِ، وَأَعُوذُ بِكَ مِنْ فِتْنَةِ الْقَبْرِ، وَأَعُوذُ بِكَ مِنْ عَذَابِ الْقَبْرِ، وَأَعُوذُ بِكَ مِنْ فِتْنَةِ الْغِنَى، وَأَعُوذُ بِكَ مِنْ فِتْنَةِ الْفَقْرِ، وَأَعُوذُ بِكَ مِنْ فِتْنَةِ الْمَسِيحِ الدَّجَّالِ ‏”‏‏.‏

Narrated `Aisha: The Prophet (ﷺ) used to seek refuge with Allah (by saying), “O Allah! I seek refuge with You from the affliction of the Fire and the punishment in the Fire and seek refuge with You from the affliction of the grave, and I seek refuge with You from the affliction of wealth, and I seek refuge with You from the affliction of poverty, and seek refuge with You from the affliction of Al-Masih Ad-Dajjal.” (Sahih al-Bukhari 6376)

This indicates that there is no real limit to wealth. It is not the amount of wealth that is wrong, it is the behaviour that comes with it. As long as our behaviour and intentions remain pure, the amount of wealth does not necessarily need a limit. However, the moment we start being forgetful of what is important in life, wealth should certainly have a limit. What we do with the wealth we are blessed with is entirely up to ourselves, and it is a choice we make.

Wealth as Stated in the Al-Quran

In the Al-Quran and hadith sources, wealth is known as Al-mal (المال). The following verses are related to wealth and how it is perceived in the Quran.

فَإِذَا قُضِيَتِ ٱلصَّلَوٰةُ فَٱنتَشِرُوا۟ فِى ٱلْأَرْضِ وَٱبْتَغُوا۟ مِن فَضْلِ ٱللَّهِ وَٱذْكُرُوا۟ ٱللَّهَ كَثِيرًۭا لَّعَلَّكُمْ تُفْلِحُونَ 

“When the prayer has ended, disperse in the land and seek out God’s blessings’. And remember Allah often so you may be successful.” (Quran 62:10)

وَٱبْتَغِ فِيمَآ ءَاتَىٰكَ ٱللَّهُ ٱلدَّارَ ٱلْـَٔاخِرَةَ ۖ وَلَا تَنسَ نَصِيبَكَ مِنَ ٱلدُّنْيَا ۖ وَأَحْسِن كَمَآ أَحْسَنَ ٱللَّهُ إِلَيْكَ ۖ وَلَا تَبْغِ ٱلْفَسَادَ فِى ٱلْأَرْضِ ۖ إِنَّ ٱللَّهَ لَا يُحِبُّ ٱلْمُفْسِدِينَ 

“But seek, through that which Allah has given you, the home of the Hereafter; and [yet], do not forget your share of the world. And do good as Allah has done good to you. And desire not corruption in the land. Indeed,  Allah does not like corrupters.” (Quran 28:77)

These verses prove that Allah encourages us to seek his blessings and to use well what he has given to us. We are encouraged to strive for stability and to use resources for the ultimate goal for the benefit of ourselves and for others. Allah also reminds us never to forget him and to always pray before seeking blessings. Lastly, we should never desire things that lead to corruption, for he does not like corrupters. As Muslims, we should always strive for the good of the world and hereafter and to do good as Allah has done good to us. 

Hadith: Pulling up those beneath us and being a support to others is among the highest outcome of being wealthy 

Narrated Aisha:

حَدَّثَنَا يَحْيَى، حَدَّثَنَا اللَّيْثُ، عَنْ عُقَيْلٍ، عَنِ ابْنِ شِهَابٍ، حَدَّثَنِي سَعِيدُ بْنُ مَرْوَانَ، حَدَّثَنَا مُحَمَّدُ بْنُ عَبْدِ الْعَزِيزِ بْنِ أَبِي رِزْمَةَ، أَخْبَرَنَا أَبُو صَالِحٍ، سَلْمَوَيْهِ قَالَ حَدَّثَنِي عَبْدُ اللَّهِ، عَنْ يُونُسَ بْنِ يَزِيدَ، قَالَ أَخْبَرَنِي ابْنُ شِهَابٍ، أَنَّ عُرْوَةَ بْنَ الزُّبَيْرِ، أَخْبَرَهُ أَنَّ عَائِشَةَ زَوْجَ النَّبِيِّ صلى الله عليه وسلم قَالَتْ كَانَ أَوَّلُ مَا بُدِئَ بِهِ رَسُولُ اللَّهِ صلى الله عليه وسلم الرُّؤْيَا الصَّادِقَةُ فِي النَّوْمِ، فَكَانَ لاَ يَرَى رُؤْيَا إِلاَّ جَاءَتْ مِثْلَ فَلَقِ الصُّبْحِ، ثُمَّ حُبِّبَ إِلَيْهِ الْخَلاَءُ فَكَانَ يَلْحَقُ بِغَارِ حِرَاءٍ فَيَتَحَنَّثُ فِيهِ ـ قَالَ وَالتَّحَنُّثُ التَّعَبُّدُ ـ اللَّيَالِيَ ذَوَاتِ الْعَدَدِ قَبْلَ أَنْ يَرْجِعَ إِلَى أَهْلِهِ، وَيَتَزَوَّدُ لِذَلِكَ، ثُمَّ يَرْجِعُ إِلَى خَدِيجَةَ فَيَتَزَوَّدُ بِمِثْلِهَا، حَتَّى فَجِئَهُ الْحَقُّ وَهْوَ فِي غَارِ حِرَاءٍ فَجَاءَهُ الْمَلَكُ فَقَالَ اقْرَأْ‏.‏ فَقَالَ رَسُولُ اللَّهِ صلى الله عليه وسلم ‏”‏ مَا أَنَا بِقَارِئٍ ‏”‏‏.‏ قَالَ ‏”‏ فَأَخَذَنِي فَغَطَّنِي حَتَّى بَلَغَ مِنِّي الْجُهْدُ ثُمَّ أَرْسَلَنِي‏.‏ فَقَالَ اقْرَأْ‏.‏ قُلْتُ مَا أَنَا بِقَارِئٍ‏.‏ فَأَخَذَنِي فَغَطَّنِي الثَّانِيِةَ حَتَّى بَلَغَ مِنِّي الْجُهْدُ، ثُمَّ أَرْسَلَنِي‏.‏ فَقَالَ اقْرَأْ‏.‏ قُلْتُ مَا أَنَا بِقَارِئٍ‏.‏ فَأَخَذَنِي فَغَطَّنِي الثَّالِثَةَ حَتَّى بَلَغَ مِنِّي الْجُهْدُ ثُمَّ أَرْسَلَنِي‏.‏ فَقَالَ ‏{‏اقْرَأْ بِاسْمِ رَبِّكَ الَّذِي خَلَقَ * خَلَقَ الإِنْسَانَ مِنْ عَلَقٍ * اقْرَأْ وَرَبُّكَ الأَكْرَمُ * الَّذِي عَلَّمَ بِالْقَلَمِ‏}‏ ‏”‏‏.‏ الآيَاتِ إِلَى قَوْلِهِ ‏{‏عَلَّمَ الإِنْسَانَ مَا لَمْ يَعْلَمْ‏}‏ فَرَجَعَ بِهَا رَسُولُ اللَّهِ صلى الله عليه وسلم تَرْجُفُ بَوَادِرُهُ حَتَّى دَخَلَ عَلَى خَدِيجَةَ فَقَالَ ‏”‏ زَمِّلُونِي زَمِّلُونِي ‏”‏‏.‏ فَزَمَّلُوهُ حَتَّى ذَهَبَ عَنْهُ الرَّوْعُ قَالَ لِخَدِيجَةَ ‏”‏ أَىْ خَدِيجَةُ مَا لِي، لَقَدْ خَشِيتُ عَلَى نَفْسِي ‏”‏‏.‏ فَأَخْبَرَهَا الْخَبَرَ‏.‏ قَالَتْ خَدِيجَةُ كَلاَّ أَبْشِرْ، فَوَاللَّهِ لاَ يُخْزِيكَ اللَّهُ أَبَدًا، فَوَاللَّهِ إِنَّكَ لَتَصِلُ الرَّحِمَ، وَتَصْدُقُ الْحَدِيثَ، وَتَحْمِلُ الْكَلَّ، وَتَكْسِبُ الْمَعْدُومَ، وَتَقْرِي الضَّيْفَ، وَتُعِينُ عَلَى نَوَائِبِ الْحَقِّ‏.‏

The commencement (of the Divine Inspiration) to Allah’s Messenger was in the form of true dreams in his sleep, for he never had a dream but it turned out to be true and clear as the bright daylight. Then he began to like seclusion, so he used to go in seclusion in the cave of Hira where he used to worship Allah continuously for many nights before going back to his family to take the necessary provision (of food) for the stay. He came back to (his wife) Khadija again to take his provision (of food) likewise, till one day he received the Guidance while he was in the cave of Hira. An Angel came to him and asked him to read. Allah’s Messenger replied, “I do not know how to read.” The Prophet added, “Then the Angel held me (forcibly) and pressed me so hard that I felt distressed. Then he released me and again asked me to read, and I replied, ‘I do not know how to read.’ Thereupon he held me again and pressed me for the second time till I felt distressed. He then released me and asked me to read, but again I replied. ‘I do not know how to read.’ Thereupon he held me for the third time and pressed me till I got distressed, and then he released me and said, ‘Read, in the Name of your Lord Who has created (all that exists), has created man out of a clot, Read! And your Lord is the Most Generous. Who has taught (the writing) by the pen, has taught man that which he knew not.” (96.1-5). Then Allah’s Messenger returned with that experience; and the muscles between his neck and shoulders were trembling till he came upon Khadija (his wife) and said, “Cover me!” They covered him, and when the state of fear was over, he said to Khadija, “O Khadija! What is wrong with me? I was afraid that something bad might happen to me.” Then he told her the story. Khadija said, “Nay! But receive the good tidings! By Allah, Allah will never disgrace you, for by Allah, you keep good relations with your Kith and kin, speak the truth, help the poor and the destitute, entertain your guests generously, and assist those who are stricken with calamities.”(Sahih al-Bukhari)

Lessons from the Hadith

Islam teaches us that wealth is not just for the use of ourselves, but it is as a means to benefit other people and show support to the well-being of others. The hadith of the prophet Muhammad ﷺ  shows that he was a generous and kind person who showed empathy in everyday life. There are many lessons to learn from the hadith. Several of them are:

  1. Model your earnings and resources and use them to support and benefit others in need.
  2. Have a percentage to donate monthly to charity.
  3. Help a stranger once a week with anything at all.
  4. Be helpful and easygoing.

The lessons that we can learn from this hadith highlight the Islamic values of generosity, responsibility, and community welfare. It was narrated from Abdullah bin Umar that the Messenger of Allah (ﷺ) said:

‏ الْيَدُ الْعُلْيَا خَيْرٌ مِنَ الْيَدِ السُّفْلَى وَالْيَدُ الْعُلْيَا الْمُنْفِقَةُ وَالْيَدُ السُّفْلَى السَّائِلَةُ‏‏

“The upper hand is better than the lower hand; the upper hand is that which gives and the lower hand is that which asks.” (Sunan an-Nasa’i 2533)

This narration shows that Islam teaches us to always be helpful to others as the Prophet was always helpful to others. As Mufti Faraz stated, “Islam teaches us to bring humanness in all transactions.”

Purpose of Islamic Finance

The main goal of Islamic finance is to benefit everyone and prevent harm. Wealth is viewed as a resource that if used wisely, can bring positive outcomes for oneself and to the community. The Al-Quran and Hadith mention handling wealth responsibly in life. These hadiths which are given as an example by Mufti Faraz are related to benefiting others and preventing them from harm.

Narrated by Abu Musa:

حَدَّثَنَا سَعِيدُ بْنُ يَحْيَى بْنِ سَعِيدٍ الْقُرَشِيِّ، قَالَ حَدَّثَنَا أَبِي قَالَ، حَدَّثَنَا أَبُو بُرْدَةَ بْنُ عَبْدِ اللَّهِ بْنِ أَبِي بُرْدَةَ، عَنْ أَبِي بُرْدَةَ، عَنْ أَبِي مُوسَى ـ رضى الله عنه ـ قَالَ قَالُوا يَا رَسُولَ اللَّهِ أَىُّ الإِسْلاَمِ أَفْضَلُ قَالَ ‏ “‏ مَنْ سَلِمَ الْمُسْلِمُونَ مِنْ لِسَانِهِ وَيَدِهِ ‏”‏‏.‏

Some people asked Allah’s Messenger (ﷺ), “Whose Islam is the best? i.e. (Who is a very good Muslim)?” He replied, “One who avoids harming the Muslims with his tongue and hands.” (Sahih al-Bukhari 11)

Mufti Faraz explains this hadith and states that although it mentions Muslims, the meaning behind it is not restricted to just Islam, but it is for everyone. The best Islamic practice is to be someone who does not harm others. In addition, the best people are those who save people from harm and bring benefits to others.

Narrated by ‘Abdullah bin ‘Amr: 

حَدَّثَنَا عَمْرُو بْنُ خَالِدٍ، قَالَ حَدَّثَنَا اللَّيْثُ، عَنْ يَزِيدَ، عَنْ أَبِي الْخَيْرِ، عَنْ عَبْدِ اللَّهِ بْنِ عَمْرٍو ـ رضى الله عنهما ـ أَنَّ رَجُلاً، سَأَلَ النَّبِيَّ صلى الله عليه وسلم أَىُّ الإِسْلاَمِ خَيْرٌ قَالَ ‏ “‏ تُطْعِمُ الطَّعَامَ، وَتَقْرَأُ السَّلاَمَ عَلَى مَنْ عَرَفْتَ وَمَنْ لَمْ تَعْرِفْ ‏”‏‏.‏

A man asked the Prophet (ﷺ), “What sort of deeds or (what qualities of) Islam are good?” The Prophet (ﷺ) replied, ‘To feed (the poor) and greet those whom you know and those whom you do not Know (Sahih al-Bukhari 12)

This hadith as explained by Mufti Faraz is about building a community and making people feel like they belong. In Islam, our sense of belonging is to Allah and other human beings such as family, as it is a natural emotion to have a feeling of wanting to belong with other human beings. 

These hadiths bring us to the ultimate purpose of Islamic finance which is to save others from harm and benefit other people. Our practices and words should never bring harm to others. Islamic finance is there because of its benefit to other people and how it tries to eliminate harm. This can be seen from the way Islamic financial products are created and then provided to the people.

Q&A

Highlighted question during the lesson: 

What is the difference between making a product to maximize sales and making a product to make it easier for the customer?

Concluded answer by Mufti Faraz and the public:

The difference between the two is the intention. When we think about maximising sales, it is a view that it brings benefit to only one party. In conventional finance, the goal is to maximise profit regardless of the effect it has on the customers. However, in Islam, and Islamic finance, we should also be considerate towards the customers. This is because Islamic values teach us to bring benefits to others and eliminate harm. Amazon and Google are great examples of companies that consider values that are also Islamic whereby they are companies that are customer-centric and their services are based on what is best for the customers. Thus, we can say that Islamic values are not just for the use of Muslims, but it is for everyone.


Notes taken by Nafisah Yusra Abdul Rahim from Messenger Money Morals: Lesson 2 – Introduction to Sahih al-Bukhari and Introduction to Islamic Finance.

Lesson 2: Introduction to Sahih al-Bukhari and Intentions in Islamic Finance

Messenger’s Money Morals Lesson One

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