Thursday, 30 August 2018

What is money and the concept of money in Islam different from conventional economics.


                      Surely all praise is for Allah. We praise Him and seek his help. We seek his forgiveness and we seek refuge in Him from the evil of our own souls and from the wickedness of our deeds. Whomever He guides shall never go astray, and whomever He allows to astray shall never find guidance. I bear witness that none has a right to be worshiped but Allah alone, who has no partner, and i bear witness that Muhammad is His slave and His last and final messenger. May, mercy and blessing o f Allah be upon Him and upon His family and His companions and upon those who follow those in piety untill the Day of Judgment Inshaa Allah ameen. 

                     What is money from the Islamic perspective?   Money is serves as an economic lubricant in which the economic is running. Is like an engine without oil and economy will not work without. However, many people understand the meaning of money in it context of its form, as paper money  and coins. The philosophy of money in Islam is that Allah {subhana watala} owned everything in between the heaven and earth including the underground resources. Allah the almighty call money as a tool making man {its} administrator [Al-Hadid, 57:7]
                      And also is any thing that can be accepted as a means of payment of goods and services in an economic system. In fact, in ancient times people used stone, animal skins, salt, and shells as money. At the time of the Prophet (SAW), gold coins (dinars), which come from the Roman and silver coins (dirham’s), which comes from the Persian are the two precious metals are regarded as currency. In the current era, paper money (fiat money) has become a common means of payment used in all countries in the world. This indicate that we can base our concept on only referring paper  money and coins as only forms  only forms of money but we have different types or forms of money.
                     The concept of money in Islamic point view is that to Allah  belongs the dominion of  the heaven and the earth. Now we look at The description of money in the Holy Qur’an and the Sunnah:
                     The , Allah Most High has created the heavens and the earth and everything between them, and He is the Only Owner of everything to be found there, and of everything between them, as well as of everything below the surface of the earth(including the underground resources).
 Allah the Almighty says in the Noble Qur’an:
                      (To Him belong all that is in the heavens and all that is on the earth, and all that is between them, and all that is under the soil.)
[Taha, 20:6] this verse indicate anything that is in between the Heavens and the Earth is only belongs to Allah {subhana watala} the money everything exist from Him alone. And He his right to give whomever He wish without any question.
                       Wealth belongs to Allah the Almighty:
Dear brothers, money are been described in the Noble Qur’an as the Wealth of Allah.
                       Allah the Almighty says:
(And give them something yourselves out of the wealth of Allah which He has bestowed upon you.)
                         [An-Nur, 24:33] So, Allah the Almighty refers to the money owned by people as   His Own Wealth. Money as a means of making people administrators:
Allah the Almighty also calls money a tool for making man (its) administrator.
                          He says in the Noble Qur’an:
(Believe in Allah and His Messenger (Muhammad), and spend of that whereof He has made you trustees. And such of you as believe and spend (in Allah’s Way); theirs will be a great reward.
                                  [Al-Hadeed, 57:7]
                           Everything in the Universe, in the heavens and on earth, and everything under its surface is owned by Allah, both in terms of creation or action (it is under the Power of Allah), and destination (it will return to Allah). Basically, Allah the Almighty owns everything, while man just has the right of dealing (with it), and Allah the Almighty will call him to account on the Day of Resurrection and he will be questioned about his money, the way he acquired and spent it.
                          The Prophet, may Allah bless him and grant him peace, said: The world is sweet and green, and verily Allah is going to install you there as successors in order to see how you acts, [Muslim] we the Human beings must be conscious in dealing with our affairs the right of Allah {subhana watala} and right of  people in an environment. 
                          Money is ascribed to man as benefit and trial:
Actually, in some ayaat, the possession of money is ascribed to man. Dear brother also serves as trials should no any wealth that Allah will account you for in the Day of Judgment. 
                          Allah the Almighty says in the Noble Qur’an:
                          (You shall certainly be tried and tested in your wealth and properties and in your personal selves, and you shall certainly hear much that will grieve you from those who received the Scripture before you (Jews and Christians) and from those who ascribe partners to Allah, but if you persevere patiently, and become Al-Muttaqun then verily, that will be a determining factor in all affairs, and that is from the great matters, [which you must hold on with all your efforts].)[Al-Imraan, 3:186] (You shall certainly be tried and tested in your wealth and properties) The commentators of the Noble Qur’an said that the ownership of wealth and properties is ascribed to man in terms of benefit, trial and test. So Allah the Almighty has granted you the ownership of money in order that you may get benefit from it and to be tested through it.
                                                     Money as one of Allah’s blessings:
                          Dear brothers, money is one of the blessings of Allah the Almighty which shows His Mercy with regard to man.
                                                    Allah the Almighty says in the Noble Qur’an:
                          (Did He not find you (O Muhammad (Peace be upon him)) an orphan and gave you a refuge?* and He found you unaware (of the Quran, its legal laws, and Prophet Hood, etc.) and guided you?* And He found you poor, and made you rich (self-sufficient with self-contentment, etc.)?)
                                  [Ad-Duha, 93:6-8]
                                                   The good (that there is) in money:
                          Dear brothers, money is named in the Noble Quran as something good.
Allah  says :(It is prescribed for you, when death approaches any of you, if he leaves wealth (that which is good), that he make a bequest to parents and next of kin, according to reasonable manners. (This is) a duty upon Al-Muttaqun)
                               [Al-Baqarah, 2:180]
                                              Wealth was also praised by the Prophet, may Allah bless him and grant him peace, who said: How great is the goodness of wealth when put in the hands of a righteous man!
                                           In Conclusion, money is the lifeblood of existence:
It has been transmitted that one of the companions of the Prophet, may Allah bless him and grant him peace, said: How excellent wealth is! Through it i protect my honor and get closer to my Lord.
  This noble companion defined thus the goals of earning money. Allah the Almighty clarified that money is the lifeblood of existence and that people’s sustenance is based on it.
He, Glory to Him, says in the Noble Quran

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They all float each in an orbit - 3,835 views Al-Imran, 3:186]
[Ad-Duha, 93:6-8]

The human aspect in the life of the Prophet - 3,480 views [Al-Hadid, 57:7]

[Al-Baqarah, 2:180]

[Al-Nisa, 4:5]
[
Al-Isra, 17:26-27]

[Al-Qasas, 28:77]


 

 


2 comments:

  1. A very reach sheets and thanks

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