Islamic terms & quoteations about Business

1. Islamic Terms
Term Meaning
Ad-Deen A holistic life where one looks after worldly comforts and also prepare
for the hereafter.
Adab Recognition of the right and proper place and station, condition in life
and to self discipline in positive and willing participation in enacting
one’s role in accordance with that recognition and acknowledgement.
Its occurrence in one and society as a whole reflects the condition of
justice.
Amal Work and deeds, pious practice, orientated to Allah, turning away
from all weakness and evil. Amal is based and guided by Iman and
Ilmu.
Amanah Trust by God in man in the all encompassing concept of nature
(tabi’ah)
Syari’ah The path shown by Allah (SWT). The divine law.
Fard ‘ain An individual’s obligation to perform one’s religious duties.
Fard kifayah A collective responsibility for both social and spiritual development.
Fasad Inclination towards destruction
Fitrah
Ihsan Completeness of ibadah from the aspect of intentions and methods of
execution, with awareness that everything has the attention of Allah.
Hadith Reports as to the sayings and doings of the Prophet.
Halal Permitted by Allah in the Al-Qur’an
Haram Prohibited by Allah in the Al-Qur’an
Iman Faith in one God and a commitment in the teachings revealed by God
and His Messengers. Iman affects our world view and daily practices.
Ilmu Knowledge. Three sources based on Iman, a) intellect (‘aql),
experiences and revelations (wahy). Guided by Iman.
Ibadat Worship. Relates man to Allah through spiritual acts. The
manifestation of Amal salih (pious actions).
Toyyibat Substances and deeds that are good, healthy, pure, clean and lawful.
Mu’amalat Relationship between persons on this earth.
Al-ta’awin; reciprocal assistance and cooperation among members of a
society for a good cause.
Al-iktinaz; keeping one’s funds idle and not in circulation for the
general benefit of society.
Riba Interest; increase, addition, expansion or growth.
Riba al-Nasiah: Loan based interest and Riba al-Buyu: sale based
interest. Both are prohibited.
Shura Mutual consent
Musharakah A business partnership;
a) Shirkah: where two or more individuals pool financial resources
and share profit and loss on an agreed ratio and held liable to the
extent of their capital,
b) Syari’ah: each partner is able to operate other businesses,
independent of the principal business
c) Mudarabah:Partnership where one manages the partnership and
another supplies the financial resources.
Taqwa Piety
Tawhid A relationship with Allah which excludes a relationship with anyone
else. The focus of all man’s reverence and gratitude, the only source of
value, where what Allah desires for man becomes value to him. Man
who commits his will to Allah, recognises no other authority other
than His. Comprises Iman, Ilmu and Amal.
Al-Falah The concept of Al-Falah requires Muslims to win and be successful in
both this world and the hereafter.
Ummah Islamic community

2. Responsibility of Muslims
Quote Source Comments
Because Allah will never change the grace Al-Anfal Need of conviction of their beliefs and change
which He Hath bestowed on a people until 8:53 can take place from that moment on.
they change what is in their( own) souls: and
verify Allah is He who hearth and knoweth
(all things).
See you the seed that you sow in the ground? Al-Waqi’ah Allah’s help will only come from Man’s
Is it you that cause it to grow, or are We the 56:63-64 efforts.
cause?
It is Allah who has created the heavens and Ibrahim Allah has provided opportunities for one’s
earth and sends down rain from the skies, 14:32-34 rezeki, but it is up to man to use them, and it is
and with it brings out fruits wherewith to strongly mentioned that man has a
feed you; is it He Who has made the ships responsibility to do so. Failure to do so is
subject to you, that they may sail through the ingratitude.
sea by His Command; and the rivers (also)
has He made subject to you. And He has
made subject to you the sun and the moon,
both diligently pursuing their courses; and
the Night and the Day has He (also) made
subject to you. And He gives you all that you
ask for. But if you count the favours of
Allah, never will you be able to number
them. Verily, man is given up to injustice
and ingratitude.
Be involved in business as nine out of ten Ihya
sources of income lie in business
Islamic Principals from Al-Qur’an

3. Quote Source Comments
Economic Principals
..in order that it may not (merely) make a Al-Hashr Fair distribution of income.
circuit between the wealthy among you… 59:7
O you who believe! If you will aid (the cause Muhammad Cooperation between Allah and man in
of) Allah, He will aid you, and plant your feet 47:7 developing himself both spiritually and
firmly. economically.
He hath subjected to you all that there is in Al-Jathiyah Ownership of all is Allah’s and man uses
the heavens and all that there is in the earth: 45:12 them in trust, with Allah’s cooperation.
All is from Him. Verily, herein are signs for
those who reflect.
O ye who believe! Make not unlawful the Al-Ma’idah
good things which Allah hath made lawful for 5:87
you but commit no excess:…
Financial Principals
..fear Allah, and give up what remains of your Al-Baqarah Forbiddance of interest
demand for usury, if ye are indeed believers. 2:278-9
If ye do it not, take notice of war from Allah
and His Messenger;…
That they took usury, though they were Al-Nisaa’
forbidden; and that they devoured men’s 4:161
substance wrongfully-
That which you lay out for increase through Al-Rum
the property of (other) people, will have no 30:39
increase with Allah;…
O ye who believe! Devour not usury, doubled Al-Imran
and multiplied but fear Allah that ye may 3:130
really prosper.
Those who devour usury will not stand except Al-Baqarah
as stands one whom the evil one by his touch 2:275
hath driven to madness…
…But if one is forced by necessity, without Al-Baqarah
wilful disobedience, nor transgressing due 2:173
limits – then is he guiltless…
Importance of Business
..;and thou seest the ships therin that plough Fatir Importance of economic activities
the waves, that ye may seek (thus) of the the 35:12
Bounty of Allah…
And thus have we willed you to a community Al-Baqarah
of the middle way, so that (with your lives) 2:143
you might bear witness to the truth before all
mankind.
..and We sent down iron in which is (material Al-Hadid Resources provided by Allah (SWT) for
for) mighty war, as well as many benefits for 57:25 utilisation of humankind.
mankind,…
Behold! In the creation of the heavens and of Al-Baqarah Inspiration to undertake business for
the earth; in the alternation of the night and 2:164 development and improvement of society.
day; in the sailing of the ships through the
ocean for the profit of mankind;…
But seek, with the (wealth) which Allah has Al-Qasas Responsibility to both the present world and
bestowed on thee, the Home of the Hereafter, 28:77 the Hereafter.
nor forget thy portion in this world;….
…but Allah hath permitted trade and Al-Baqarah
forbidden usury… 2:275
It is no crime if you seek the bounty of your Al-Baqarah
Lord (during pilgrimage)… 2:198
…others travelling through the land, seeking Al-
of Allah’s bounty; yet others fighting in Muzzammil
Allah’s cause…. 73:20
Who can be better in religion than one who Al-Nisaa’
submits his whole self to Allah, does good,… 4:125
..Say: ‘Short is the enjoyment of this world; Al-Nisaa’
the Hereafter is best for those who do right;… 4:77
..He has chosen you, and has imposed no Al-Hajj
difficulties on you in religion:… 22:78
..and adore your Lord; and be good; that ye Al-Hajj
may prosper. 22:77
And when the prayer is finished, then may ye Al-Jumu’ah
disperse through the land, and seek of the 62:10
bounty of Allah;…that ye may prsper.

4. Islamic Principals from the Hadith

5. Quote Source Comments
Economic Principals
Allah is the one who fixes price, Who Abu Daud, Non intervention in the market.
withholds, Who gives lavishly, and Who Al-Tarmizi
provides, and I hope that when I meet him, and Ibn
none of you will have a claim against me for Majah
any injustice with regards to blood or property.
There is no monopoly except by sinful Muslin
persons.
Allah will throw into Hell, head first anyone AL-Hakim
who disrupts the market for Muslims with the and Siddiqi
intention of increasing profits.
Financial Principals
A time will come when people will devour Al-Bukhari
usury, calling it trade and Muslim
Importance of Business
Be involved in business as nine out of ten Ihya Importance of self-sufficiency.
sources of income lie in business
Do not overdo your religious practices, truly Abu Qasin
Allah prefers devotion to him that last and is
easy to practice.
The best among you are those who do not Al-Khatib
ignore the Hereafter for the worldly and also
do not ignore the worldly for the Hereafter.
Working with your own hands and all forms Sabiq and
of buying and selling which is most legitimate Sayyid
and blessed.
Truly Allah likes to see his servants striving to Al-Dailami The importance of work to a Muslin.
earn an honest income
The best among you are those that do not Al-Khatib
ignore the Hereafter for the worldly life and
also do not ignore the worldly life for the
Hereafter.
The hand that is above is better than the hand Al-Bukhari
that is below.
Anyone who desires what is permissible from Al-Tabraini
the world, keeping himself away from sins,
working for the sake of his family, and taking
care of the neighbours, will meet His Lord
with a face shinning like a full moon.
There is nothing wrong in wealth for him who Al-Bukhari
fears Allah
‘Anyone who has an atom of pride in his heart Muslim
will not enter the garden.’ A man then asked,
‘What about the one who likes to wear a
handsome robe and good shoes?’ The Prophet
replied, ‘Surely Allah is beautiful and loves
beauty.’
Happiness has four elements; a good wife, a Ibn Hibban
spacious house, a good neighbour, and a
comfortable riding beast.
Faith is not expectations and not outward Ibn Najjar
ornamentations, but implanted in the heart and
and realised through actions. Dailami
General Business Practices
Two persons who have traded should choose Al-Bukhari To ensure pressure is not placed on either
whether to proceed with the sale or not; as and Muslim buyer or seller by the other party.
long as they have not left the place of sale.
You can have choice for any merchandise that Al-Bukhari Cooling off period after purchase allowed.
you have bought for three days. and Muslim
Anyone who wishes to make forward sales, he Ibn Abbas Need of contracts for forward sale.
should do so in a specified weight and
measure and for a specified period.
Those who work for you are your brothers. Al-Bukhari Treat workers as fairly as possible.
Allah has made them your assistants. and Al-
Tarmizi
Hope for others what you hope for yourself Al-Tarmizi
and you become a Muslim.
It is most important for you to provide food Muslim
and clothing to your assistants.
For your workers there must be satisfaction Muslim