"Business" in Islam

However, there are some strict guidelines regarding how one must do business. This is a vast topic in itself with many hadeeths and Quranic verses related to economic pursuits.

Honesty and integrity are among the main requirements for the successful businessman in Islam. The prophet is one of our best examples. Before his prophethood, he would lead trade missions to foreign lands for wealthy businesswoman Khadijah. His honesty in his dealings resulted in more business for Khadijah, who would later successfully propose marriage to Muhammad.

Some fundamental principles include the following:

• In Surah Hud, verse 85 of the Quran, Allah relates how Shuayb told his people: “Give just measure and weight, nor withhold from the people the things that are their due.” This means that, in business, one should not withhold from the people what is due to them.

• Money used to buy and sell products should be lawfully acquired. This means a Muslim cannot use stolen money, gambling money or money derived from the sale of prohibited items for their businesses.

• A Muslim cannot sell a product unless he or she has it in her possession. The prophet said: “Whoever buys cereals shall not sell them until he has obtained their possession.” The companion Ibn Abbas said the same applies to all products, not only cereals.

• Products should be bought in an open market in which the seller and the buyer is aware of market prices and not be caught by surprise.