الحمد لله رب العالمين، والصلاة والسلام على من بعث رحمة للعالمين، وعلى آله وصحبه ومن تبعهم بإحسان إلى يوم الدين
Assalāmu Alaykum Warahmatullāh Wabarakātuh
Beloved brothers and sisters, you are welcome to this morning’s session of the Halqah
We ask Allāh to make it beneficial for us all, āmīn.
The Entrepreneur is an English word deriving from French from the word entreprendre which is to ‘undertake’. Thus it was someone who calculates out a thing or a task, and then undertakes all it requires to execute it. In modern discourse its been made to imply someone who initiates, manages and undertakes a business enterprise. And is known to be given of high initiative, is able to identify business opportunities when they present themselves and is ready to take and bear all the possible risks and benefits that his business initiative renders.
Practically speaking, the flourishing of a society relies on two things: Agriculture and Commerce. And it is only when a society is able to sustain both aspects in considerable quality can it grow and maintain its excellence
Most Muslims today think that commerce and its pursuit isn’t one of the things that Islām encouraged.
This is a fatal misunderstanding
Islām has been one of the major forces behind the growth and globalization of commerce
The Message of Islām not only permitted commerce, it encouraged it.
Allah ta’āla said:
يا أَيُّهَا الَّذِينَ آمَنُوا لَا تَأْكُلُوا أَمْوَالَكُم بَيْنَكُم بِالْبَاطِلِ إِلَّا أَن تَكُونَ تِجَارَةً عَن تَرَاضٍ مِّنكُمْ ۚ وَلَا تَقْتُلُوا أَنفُسَكُمْ ۚ إِنَّ اللَّهَ كَانَ بِكُمْ رَحِيمًا
“O you who believe, do not consume one another’s wealth with sin and error, but (transact) only by way of mutual consent in commerce. And do not kill yourselves. Indeed Allah is merciful toward you”
Allah ta’ala, the Ulamā explained, here encourages us to transact in commerce with mutual consent, agreement and good impressions. Commerce was so important that it was the second of the three occupations that Allāh made the Rasul – salallāhu alayhi wasallam – engage in.
The first was Sheep herding, the third was teaching and leading. The Rasul – salallāhu alayhi wasallam – was so much known with trade and commerce that he came to be known as the Amīn. It were the sterling qualities he had of trust worthiness, generosity, discipline and manners in trade and commerce that Khadījah appreciated in him that made her seek his appointment as the caretaker of her commerce and trade. Many of the Companions of the Rasul – salallāhu alayhi wasallam – were known as people of trade and commerce.This includes Abū Bakr, ‘Umar, Uthmān, ‘Abdurrahman Ibn ‘Awf, radiyallāhu a’n hum and many others.
The Rasul – salallāhu alayhi wasallam – so much encouraged them and laid down the principles for trade and commerce. Of course, in the turn of events, these great men who were the traders, commercial masters and entrepreneurs were the Companions that helped the poor, the needy, and held the society from economic panic.
The first and most important principle in Trade and Commerce that the Rasul – salallāhu Alayhi wasallam – maintained was trust and keeping to a promise made. He – salallāhu alayhi wasallam – said:
التَّاجِرُ الصَّدُوقُ الأَمِينُ مَعَ النَّبِيِّينَ وَالصِّدِّيقِينَ وَالشُّهَدَاءِ
“The Trader who is telling the truth, straight forward and trustworthy, is in the company of the Prophets, the Siddiqīn and the Shuhadāh”
Recorded and transmitted by Abū Ya’ala and Ad-Dārimī, graded as Sahih
This shows you the status that the trader and commercial entrepreneur can attain if he is sincere and not given to cheating and lies in his trade. Why was he given such a status? Because he is of the great builders of the society’s growth. We shall later discuss some other principles that the Rasūl – salallāhu Alayhi wasallam – laid down in regards to commerce but before that, we just want to mention some things that show the importance the Muslims had always given to it.
The Ulamā of Fiqh had always agreed that there are two subject matters in the books of Fiqh that had the greatest number of chapters. They are Commerce and Jihād. It is also known that some of the modern terminologies that are used today in commerce and trade are of Muslim origin. To cite examples:
The first example we would use here is the word ‘Average’. Its root is from the Arabic عوار ʿawār, a defect, or anything defective or damaged, including partially spoiled merchandise.
In western usage its origin is from Medieval Mediterranean sea commerce. Where then the Traders would agree that when they board ship and if in the middle of the sail, bad storm necessitated that they throw over some goods into the sea, the loss will be shared by everyone who had a good and not only those whose goods were thrown into the sea.
So, the formula was to calculate the average value of every good that was thrown into the sea and then share the loss within traders.
It was some form of insurance that the Muslims practiced in Spain, the Italians borrowed the practice and then it found its way into Europe as both a practice and as a word
Another word is the ‘Carat‘ which is the global measure for gold. It is derived from the Arabic قيراط qīrāt, a small unit of weight, defined as one-twenty fourth (1/24) of the weight of a certain coin known as the Dīnār.
It is adopted till date in International Trade with reference to a particular gold alloy
Another word is the Caravan, from the Arabic قيروان ‘qaīrawān’, convoy of travelers journeying together, which could be a merchant convoy or military or other convoy.
Another is Cotton from the Arabic قطن qutn | qutun, cotton. The last example we would cite here is the word ‘Tariff’ from the Arabic تعريف taʿrīf, notification, specification (from ʿarraf, to notify). Its medieval usage to Muslim sailors and traders was the list of inventories of the goods boarded on ship that detailed the prices of all the goods and products, and because sailors were taxed with respect to their ‘tarrifs’, with time it became the official word used for import and export taxes.
And much later, the price for any listed goods and products that a company or business offers. This is just to cite few examples, otherwise there are so many we could go on and on citing So, whenever we hear some of these words in use, we should recall that they took origin from us.
We shall inshā Allāh pause here to continue tomorrow . When we shall discuss the Islamic Principles of Commerce, the importance of it and the need to revive its essence in our Ummah. We would also, insha Allah, return to the philosophy of entrepreneurship itself and discuss the Muslim’s perspective on its meanings.
Bārakallāhu fīkum
Jazākumullāhu Khayran
وآخر دعوانا ان الحمد لله رب العالمين
وصلى الله على سيدنا محمد وعلى آله وصحبه وسلم
Assalāmu alaykum Warahmatullāh Wabarakātuh
