لحمد لله رب العالمين، والعاقبة للمتقين، ولا عدوان إلا على الظالمين
Assalāmu Alaykum Warahmatullāh Wabarakātuh, Beloved brothers and sisters in the Dīn
You are again welcome to this morning’s session of the Halqah. We ask Allāh for guidance and direction and to make it beneficial to both presenter and readers, Āmīn
We have been discussing the Muslim Entrepreneur and we mentioned its definition that the earliest generation and community of Muslims paid attention to it and realized its importance. We also mentioned that the Muslim Ummah throughout our history considered to be very necessary and due to their paying attention it, many words in trade and commerce today are from Islam.
We shall inshā Allāh today be discussing the principles of Commerce in Islām.
What are the Principles that we must all build our transactions and commerce upon?
1. Trust
This is Amānah, of course the Muslim who is true to his Dīn must be someone of trust but the case is different and more specific when it comes to contracts and transactions. This is because in transactions, the hearts of both the buyer and the seller are attached to the profit they would acquire in the transaction no matter how little it is and will therefore not want to miss out on that.
This attraction and selfishness of the heart may easily lead to treachery and cheating even from the most knowledgeable persons in the society. For this reason, one of the best ways of trying whether or not a person is trustworthy is to have him a party in business transactions that involve possibilities of earning much money.
It all bores down to the covetousness of the soul about which Allāh – ta’ālā – said:
ومن يوق شح نفسه فأولئك هم المفلحون
“And whosoever suppresses the covetousness of his soul, then these are the successful ones”
2. Honesty
This is another very important principle that is attributed to the first and earlier one.
The entrepreneur must excel not to tell lies and to be truthful and honest in all that he does. It proves difficult not to tell lies in modern societies and transactions. But to not lie is one of the principles upon which our commerce is built.
People tell lies more often when it comes to advertising their goods and convincing customers to buy from them. They could lie on the price, claim to have purchased it at a higher price, praise it with what it does not contain of good, and hide its defects in their speeches. All of these are against our Principles.
It is mentioned once that the Imām Al-Awzā’ī – rahimahullāh – once was walking the streets when he heard a man advertising his goods saying:
يا بصل يا أحلى من العسل
“O Onions, O sweeter than honey.”
This man was a seller of onions and he wanted to draw attention to his onions. So the Imām said:
“Subhānallah! Subhānallah! Does this man think that lieing of this nature is permissible?”
This was recorded in the book ‘Mahāsinu As-Sā’īy Fī Manāqibi Al-Awzā’ī.
This is because the Ulamā consider it Harām to tell lies in advertising your goods or to exaggerate the excellence of your goods even if you were using Jingles. For clarity, A jingle is a short song or tune used in advertising and for other commercial uses
Example of modern Jingles:
” Have you tried Wheaties?
They’re whole wheat with all of the bran.
Won’t you try Wheaties?
For wheat is the best food of man.”
Despite the fact that its author knows that wheaties isn’t the best food of man as his poem claims.
3. Courtesy
It is important to be very courteous when relating with people that you interact with.
Both your customers and other than them. The Muslim must not forget that the Rasūl – salallāhu alayhi wasallam – said:
إنما بعثت لأتمم مكارم الأخلاق
“I was not sent but so as to perfect noble characters.”
What is known today as being Customer friendly is in line with the Muslim principle of commerce that an enterprenuer should hold unto and to practice
4. Record Keeping
It is important to keep records of sales, transactions, debits and credits. The Rasūl – salallāhu alayhi wasallam – stressed the importance of having the will written down.
This is a reference to the amount of money owed in debt to other people and which is payable. This record keeping was a key practice of Commerce and Trade in our history.
And the Muslim Entrepreneurs of Andalusia would teach it to the Latin west who came to trade in Andalusia.
5. Social Responsibility
More often than not, if you are an astute and persistent entrepreneur, you would succeed in making gains and Businessmen most times make tangible wealth that can be of benefit to the society. Among their responsibility to the community is Zakāt. There is no running away from it. It is of the five pillars.
Aside Zakāt, they have other responsibilities to the society that trades with them.
This includes assisting the needy, investing in other businesses that build the society, public endowments such as Madāris, Wells and boreholes, roads and things of that nature.
6. Halāl Commodities
What this means is that we should only trade and transact things that are permissible in Islam to consume or use.
Beloved brothers and sisters, these are the Principles upon which our Commerce is built
All experience has shown that it is only when one holds fast to these principles that his transaction receives the blessings that one craves.
We ask Allāh for guidance.
We shall inshā Allāh stop here to continue tomorrow .
Bārakallāhu fīkum
Jazākumullāhu khayran
السلام عليكم ورحمة الله وبركاته
