Where do you earn your living?

On the authority of Abu Huraira (may Allah be pleased with him) The prophet (may Allah's peace and mercy be upon him) said:

"A time come when one will not care how one gains one's money legally or illegally" reported by Bukhari.

In view of the present trend of a carefree world where wealth are amassed by any means (by hook or by crook) a world where people have developed erroneous mentality of either "live corrupt or die bankrupt" it is important to remind our Muslim brethren on the necessity of seeking halaal earnings, so that on the day of reckoning we will not have cause to pay back people with our good deeds or have their bad deeds added to ours
In other words, we will be discussing on this platform islamic rulings on commercial activities with emphasis on Islamic business ethics, how to increase your earnings the halaal way, contemporary business models from Islamic point of view and other topical issues that relate to finance and contract.

Jazaakumullahu khaeran

Yours in ideal Muslim living

To be continued…

Following!!

Jazakallahu Khyran op

@zarinaAin might want to ask the OP one or two questions.

insha Allah,

Allah has made Trade permissible

The Arabic word al-bai' (plural, al-buyoo) means to transfer possession from one to another in exchange for a price with mutual consent of both parties (buyer and seller).
Trade is permissible according to the Quran, Sunnah, Consensus of Muslim Scholars and analogical deduction.

Quran: Allah says (translation)" ...but Allah has permitted trade..." Q 2v275

Sunnah: the prophet (S.A.W) said: "the seller and the buyer have the right to keep or return goods as long as they have not parted" Bukhari

Consensus of Muslim Scholars (الإجماع):
Muslim Scholars uniformly agreed on permissibility of trade in general.

Analogical Deduction ( المعقول):
Trade transactions are permissible because people needs are interdependent, and people grant nothing for nothing, so wisdom necessitates the permissibility of trade in order to enable people to get their needs.

AbdelKabir:
@zarinaAin might want to ask the OP one or two questions.

Jazakallaah khayran for this

To be continued...

zarinaAin:


Jazakallaah khayran for this

specifically. mentioned you because of the jaiz bank you asked about, perhaps you can get more information from the op.

AbdelKabir:


specifically. mentioned you because of the jaiz bank you asked about, perhaps you can get more information from the op.

Yeah, I just want the op to say a few things before I proceed

The importance of seeking Halal sustenance

There is no doubt that one of the obligations upon the Muslim is that he earn for himself and his family a pure and halal sustenance.

Abu Huraira narrated that the Prophet(sallallahu alaihi wa sallam) said:

" O people! Allah is al-Tayyib (Pure) and He only accepts that which is pure, .... then the Prophet (sallallahu alaihi wa sallam) mentioned a traveller on a long journey, who is dishevelled and dusty, and he stretches forth his hand to the sky, saying " O my Lord! O my Lord" while his food is unlawful, his drink is unlawful, his clothing is unlawful, and he is nourished unlawfully, how can he (expect to) be answered? Reported by Muslim.

It is noticed in this hadith that the Prophet(sallallahu alaihi wa sallam) emphasised this person's impure earnings by detailing the fact that his food, clothes, drink and nourishment were all obtained from the impure.

Purity is achieved when one earns his sustenance in a halal manner, And then uses it to buy halal food. So, if a person buys pure food from stolen money, this will not be accepted from him. Likewise if one earns money from permissible means, then uses it to buy impermissible items, such as intoxicants, this too will not be accepted from him. Only when both of these conditions have been met (The way one earns money and the way one spend it) will Allah's acceptance be gained.

THERE IS NO HARM IN SEEKING WEALTH AS LONG AS ONE IS STILL PIOUS
لا بأس با لغني لمن اتقي
Mu'adh ibn 'Abdullah narrated from his father on the authority of his uncle that the messenger of Allah (sallallahu alaihi wasalam) said, "there is no harm in riches for the one who has piety(taqwa). And health is better for the one who has piety. Tranquility of the soul is a form of blessing" Sahih ibn Majah.

Salam alaykum wa rahmatullahi wa barakatuh TijaraHub

I have a question that I hope you might be able to answer.

How do saving accounts in Islamic banks work? A friend was telling me that after a certain period of time, the bank (which is Islamic) adds a certain amount of money to her savings. She inquired about it and was told it isn't "haram money" but we both aren't buying that idea. Is it possible that the extra money being added isn't interest *even though we both believe that it is*?

@snapsocre
As regard your question, the savings account you open in an islamic bank has two rulings:
1-Trust :الوديعة : if you keep your money in bank sometimes it is regarded as trust in which you kept with the bank to keep for you and if any circumstance of theft or unforseen event beyond the control of the bank occur that resulted to the loss of the money the bank will not be responsible for it. That is one of the reasons the Prophet (sallallahu alaihi wasallam) was nicknamed as Ameen, A trustworthy person because the Arabs do keep their belongings with him.

2-Loan القرض: the second ruling concerning the money you saved with Islamic bank can be regarded as loan from Sharia perspective even if you see it the other way, and that is what is obtainable in modern Islamic finance industry, as much as when you are saving your money with them you did not give them any condition because if you do that will be RIBA except you instruct them to do business with it in other words your money is exposed to risk or profit, but in asituation where by you save your money and you can withdraw it at any time, it is regardedas loan and a borrower can pay back his lender in good returns as much it is not stipulated at the time of transaction.

Abu Huayrah(may Allah be pleased with him) reported that a man had lent the Prophet a camel of a certain age. He came to demand it from the Prophet and he told the people to give the man a camel. They did not find one of the same age but an older(and better camel). The Prophet (sallallahu alaihi wasallam) said "Give that to him" The man said "You have given me my right in full. MayAllah give you in full." The Prophet then said "The best among you is he who repays others in the best manner(that is, generously). Saheeh. See Shaykh al-Albani I'rwa al-Ghaleel, vol. 5, p.255. Recorded by Bukhari, Muslim, Tirmidhi and by Nasa'i in abridged form.

Allah knows best

Jazakallahu khyran Tijarahub

I just need further clarification. So if a person doesn't stipulate that borrower pays more then is not considered riba?

How is this different from non- Islamic banks because they add interest after a certain period as well?

@snapscore
it is very different from conventional banking because it is not allowed for a Muslim to lend out his resources for someone who will use it for prohibited transaction as obtainable in conventional banks they trade in liquors and other forbidden items unlike Islamic bank that uses your money in a trade that Pleases Allah and empower the Muslim nation, often in conventional banks, they stipulate that you leave your money for certain period before you will be entitled to certain amount, but in Islamic bank if it is not an investment account you can withdraw it at any time and the additional money you get on your savings will not be certain and its not binding on the bank to give you additional money on your savings in case your are denied of it.

Encouragement to Be Moderate In Seeking Livelihood
الحث علي الاقتصاد في طلب المعيشة

Jabir ibn Abdullah narrated that the Messenger of Allah(sallallahu alaihi wasallam) said "O people, fear Allah and act properly and godly in seeking (wealth) for a soul will not die until it exhausts its sustenance (decreed for it) even if it is slow in coming. Fear Allah and act properly in seeking (wealth by) taking what is permissible and leaving what is forbidden.
Sahih ibn Majah, no 1743

The Prophet (sallallahu alaihi wassallam) admonishes us to be moderate in seeking our livelihood without exploiting others or causing harm to others or not implementing the Islamic injunctions regarding business transactions by avoiding to ask scholars on the Islamic rulings of our businesses. A Muslim should believe in predestination that all his provisions will surely come to him, hence the need to seek wealth with patience and diligence and not by hook or by crook as obtainable in the present time.

@snapscore
depositing one's money in an islamic bank is a form of helping one another in piety and righteousness asAllah encouraged us to do.

@snapscore
depositing one's money in an islamic bank is a form of helping one another in piety and righteousness as Allah encouraged us to do.

TijaraHub:
@snapscore
depositing one's money in an islamic bank is a form of helping one another in piety and righteousness as Allah encouraged us to do.

The problem is some of these so called Islamic banks are only Islamic by names. They give out loans and add interest calling it "gifts" or another name. Another thing is not all of the banks are honest about the their transactions. The issue is distinguishing true Islamic banks from just the regular conventional banks.

@snapscore
please drop your whatsapp number so as to discuss it further

Nevertheless, an ideal Islamic bank should have committee of expert that consist of Sharia Scholars that specialize in Islamic finance and commercial jurisprudence in order to screen and monitor the bank activities, in case that is lacking there are tendencies of malpractice, but the fact that the instrument of a law is bad doesn't mean the law is bad

Salam alaykum Tijarahub

I prefer all conversations here because I don't give my contact out.

But it's okay if you can't explain more because it's derailing the thread.

Jazakallahu Khyran for taking the time to explain.

I really appreciate your effort and learnt a lot of new things!

@snapscore
Candidly I am not crossed for your refusal to drop your contact, but I am highly interested in that issue and I wish to know the bank involved so as to do an independent research and inform the NIB regulators incase the bank involved is not complying, and it will not be logical to mention the bank name on this forum pending the investigation, hence a need for an alternative medium to discuss further, for your privacy please help to use an anonymous number to send the details to 08155557936. Islamic banking is just rising and we pray to Allah to make it grow, to achieve that it is our collective responsibility.

Encouragement to be Honest and Warning Concerning Lying in Business Transaction
الحث علي الصدق والتحذير من الكذب

Hakeem Ibn Hazim narrated that the Prophet (sallallah alaihi wasallm) said

"The seller and the buyer have the right to keep or return goods as long as they have not parted. If both parties speak the truth and point out the defects and qualities (of the goods) then. They will be blessed in their transaction. But if they tell lies or hide something, then the blessings of their transaction will be destroyed".

Recorded by Bukhari

Jazakallahu Khyran

Encouragement to be Easy-going and Compromising when Buying or Selling.
الحث علي السهولة والسماحة في البيع والشراء

Jabir ibn Abdullah narrated that the messenger of Allah(sallallahu alaihi wasallam) said" May Allah have mercy on the one who is easy-going and generous while buying, while selling and when demanding his rights.

Recorded by Bukhari

I'm still looking for a good halal job Inshallah

JazakaAllahu khairan thanks for sharing

May the Almighty Allah bless the OP and all the contributors and all muslim accross the globe. Jumat mubarak.

Assalamu Alaikum. Please I have 2 questions:
1) is borrowing money from banks or co-operatives with interest halal or Haram?
2) Are Ponzi schemes like mmm, 247 and co Haram?
Thanks.

koma1:
Assalamu Alaikum. Please I have 2 questions:
1) is borrowing money from banks or co-operatives with interest halal or Haram?
2) Are Ponzi schemes like mmm, 247 and co Haram?
Thanks.

Ahn Ahn which one is 247 again

@babs01
May Allah provide a good halal job for you soonest, meanwhile, try to be engaged in any meaningful endeavor so as to keep body and soul together.

@koma1
Wa'alaykum salaam, I'll be glad if you can be patient, insha Allah as soon as I begin to discuss Prohibited Trade Transactions l will answer the questions extensively. But if you can't wait you can send a text to this number 08155557936 in order not to derail the trend. JazaakalLahu khaeran for your understanding

TijaraHub:
@snapsocre
As regard your question, the savings account you open in an islamic bank has two rulings:
1-Trust :الوديعة : if you keep your money in bank sometimes it is regarded as trust in which you kept with the bank to keep for you and if any circumstance of theft or unforseen event beyond the control of the bank occur that resulted to the loss of the money the bank will not be responsible for it. That is one of the reasons the Prophet (sallallahu alaihi wasallam) was nicknamed as Ameen, A trustworthy person because the Arabs do keep their belongings with him.

2-Loan القرض: the second ruling concerning the money you saved with Islamic bank can be regarded as loan from Sharia perspective even if you see it the other way, and that is what is obtainable in modern Islamic finance industry, as much as when you are saving your money with them you did not give them any condition because if you do that will be RIBA except you instruct them to do business with it in other words your money is exposed to risk or profit, but in asituation where by you save your money and you can withdraw it at any time, it is regardedas loan and a borrower can pay back his lender in good returns as much it is not stipulated at the time of transaction.

Abu Huayrah(may Allah be pleased with him) reported that a man had lent the Prophet a camel of a certain age. He came to demand it from the Prophet and he told the people to give the man a camel. They did not find one of the same age but an older(and better camel). The Prophet (sallallahu alaihi wasallam) said "Give that to him" The man said "You have given me my right in full. MayAllah give you in full." The Prophet then said "The best among you is he who repays others in the best manner(that is, generously). Saheeh. See Shaykh al-Albani I'rwa al-Ghaleel, vol. 5, p.255. Recorded by Bukhari, Muslim, Tirmidhi and by Nasa'i in abridged form.

Allah knows best

Salam alaikum my brother in Islam. what is the difference if I am to receive interest from Islamic and commercial banks? And about the camel, the one given was not seen and one must be given.