Riyad us-Saliheen Hadith 59 Buyer & Seller

Riyad-us-Saliheen

Chapter 4 Truthfulness

Hadith No. 59 — Seller and Buyer

59. Hakim bin Hizam (May Allah be pleased with him) reported that: Messenger of Allah (PBUH) said:
“Both parties in a business transaction have a right to annul it so
long as they have not separated; and if they tell the truth and make
everything clear to each other (i.e., the seller and the buyer speak
the truth, the seller with regard to what is purchased, and the buyer
with regard to the money) they will be blessed in their transaction,
but if they conceal anything and lie, the blessing on their transaction
will be eliminated.”
[Al-Bukhari V. 3 Bk 34 Hadith 293 and Muslim].

Listen to audio explanation of hadith no. 59 by Dr. Saleh as-Saleh.

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Kitab Al-Buyu` The Book of Transactions

Kitab Al-Buyu`
The Book of Transactions
Translation of Sahih Muslim, Book 10:

INTRODUCTION  (Continued)

The Holy Qur’an has stressed the importance of fairness in business: “And, O my people, give full measure and weight justly, and defraud not men of their things, and act not corruptly in the land making mischief. What remains with Allah is better for you, if you are believers” (xi. 85-86).

In these words addressed by Hadrat Shu’aib to his people, the Holy Qur’aan enunciates the fundamental principles of commerce as follows:

To give just measure and weight.

Not to withhold from the people the things that are their due.

Not to commit evil on the earth with the intent of doing mischief.

To be contented with the profit that is left with us by God after we have paid other people their due.

We are told in these verses that commerce can flourish under conditions of peace and security. The people are, therefore, warned not to disturb the peace of the land so that there is a free and untrammelled trade between different parts of the world. In commercial relations we are expected to be absolutely just and honest, liberally giving other people their due. We are not to be guilty of selfish greed and not to indulge in profiteering; and we are told that the lawful profit which has God’s blessings is the one that we are able to make through perfectly honest dealings with others. The injunctions contained in these Qur’anic verses and found elsewhere in the Holy Book close the door of all dishonest and unjust transactions. We should not forget that justice is a master virtue. If we give others just measure and just weight that tantamount to saying that we should be fair and just in our dealings.

Source
Kitab Al-Buyu` CalgaryIslam.com

Technorati Tags: business, islam, economics

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Kitab Al-Buyu` The Book of Transactions

Kitab Al-Buyu`
The Book of Transactions
Translation of Sahih Muslim, Book 10:

INTRODUCTION  (Continued)

Islam lays the greatest emphasis on Qat Haldl (food earned through lawful means). The pious among us believe that just as nasty food spoils our physical health. Similarly, food earned through unlawful means spoils our spiritual and moral health.

A man who lives on income derived through illicit means and fraudulent practices cannot be morally advanced and spiritually elevated. If we try to comprehend the exact, implications of the term Haram (unlawful) we can form an idea of the high standard of morality on which Islam wants us to conduct our business. And, if business is conducted strictly in accordance with the Islamic principles of commerce, there can be absolutely no scope for any kind of commercial dishonesty varying from the simplest and most glaring type of business fraud to the most cunning and subtle type of profiteering which is often masked under a semblance of honesty.

Islam is most vehement in its condemnation of commercial dishonesty. It denounced, in the strongest possible terms, all sorts of deceitful dealings and illegal profits. It has disallowed all transactions not based upon justice and fair play The Holy Prophet (may peace be upon him), while reprimanding the dishonest dealer, said:” Laisa minna man gashshdna” (Whosoever deceives us is not one of us).

According to Imam Ghazali, a Muslim who makes up his mind to adopt trade as a profession or to set up his own business should first acquire a thorough understanding of the rules of business transactions codified in the Islamic Shari’ah. Without such understanding he will go astray and fall into serious lapses making his earning unlawful. No people in the world have ever attached so much importance to lawful trading as did the early Muslims, nor has any other nation evinced such a dread of unlawful trading as they did. That is why al-Ghazali stressed a clear understanding of the rules and laws governing business transactions as a necessary prerequisite to adopting trade or business as a profession.

Source
Kitab Al-Buyu` CalgaryIslam.com

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Kitab Al-Buyu` The Book of Transactions INTRO

As-Salaamu ‘Alaykum

Kitab Al-Buyu`
The Book of Transactions
Translation of Sahih Muslim, Book 10:

* INTRODUCTION *

Honesty in commercial dealings is more strictly enjoined by Islam than by any other religion. It is because Islam is a religion which regulates and directs life in all its departments. It is not to be regarded, like the modern man’s religion. as a personal, private affair, which has nothing to do with his economic and political life.

It is not merely a body of dogmas or a bundle of rites and rituals; it is a practical code which governs life in all its spheres.

Its laws are as effectively operative in our commerce and politics as in our domestic life and social relations. Islam censures political chicanery and economic exploitation as strongly as social excesses and individual dishonesty. Indeed, a true Islamic society is based upon honesty, justice and fraternity, and is absolutely intolerant of dishonesty in all its various forms. That is the reason why perfect honesty in business and truthfulness in trade are much emphasised by the Holy Prophet (may peace be upon him).

It will not be an exaggeration to say that absolute honesty in business and commerce is really an Islamic concept. The Hindus and Jews were (and still, are) worshippers of the Mammon. Both of them have been mercenary nations, notorious for their greed. The pre-Islamic Christians. too, did not possess any high standard of business morality.

It was Prophet Muhammad (may peace be upon him) who, on the one hand, urged his followers to adopt trade as their profession, and, on the other band, exhorted them to observe truthfulness and honesty in their business transactions.

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((¸¸.·´ ..·´ Aami
-:¦:- ((¸¸.·´*

The Islaamic Economic System by Shaykh Salaah Muhammad Aal Shaykh

As-Salaamu ‘Alaykum

The Islaamic Economic System

“Islaam, this religion that we believe in, has a complete system regarding every aspect of our society.

It has a complete Economic System – there is zakaat, charity, the means by which individuals can own things and there is a balance between what an individual needs and the money of the Society.

It is not like the Communist system where they go and (focus on) not neglecting the individual, so they harm both the society and the individual.

It is not like Capitalism where it is based primarily on the individual.

This complete system (in Islaam) balances the needs of the individual and the needs of the society. It has also made ribaa (?EC – interest) haraam (prohibited), I think you know the meaning of ribaa and ribaa is a very great oppression.

In this economic system that we live in (that is used) [ribaa] we see its effect on the people and on many countries. Poor countries are now suffering just because of this economic and monetary system which governs the world where there is ribaa (interest) that (poor) countries must pay to the rich countries such that the poor countries continue to be poor.

In the rich countries there are also many people who are suffering from the effects of interest. It is a fact that a very large percentage of the people from the rich countries are suffering due to the percentage (of interest) that they pay in order to own their home, their car etc.

We (in Islaam) have a system that encourages bai’ (E???? – trade) and tijaarah (E?C?E – commerce) in a way that serves the individual as well as the whole society.”

Source:
Question and Answers Session by Shaykh Salaah Muhammad Aal Shaykh ??U? C???
Delivered on January 20th, 2007 || http://www.albaseerah.org/forum/showthread.php?t=2772

¸.·´ .·´¨¨))-:¦:-
((¸¸.·´ ..·´ Aami
-:¦:- ((¸¸.·´*