5 Islamic Principles for Business

by Kalsoom Fatima Advocate

Islam has given guidance for every part of life including business. Islamic principles of business are

1. Sell lawful items
Prophet Muhammad (PBUH) said: “Every flesh nourished by haram deserves fire”(Hadith Shu`abul iman,5521)

2. Honesty
Quranic says “O believers, fear Allah, and be among those who are the truthful ones” (al-Tawbah 9:119).

3. Good treatment of staff
Allah says: “O you who have believed, fulfil your contractual obligations.” [Quran 5:1]

The Prophet (peace be upon him) said: “Give the worker his wage before his sweat dries.” [Ibn Majah]

4. No deception or fraud
Allah says: “O you who have believed, do not consume one another’s wealth unjustly but only [in lawful] business by mutual consent.” [Quran 4:29]

Prophet says “Whoever cheats us, is not one of us.” [Sahih Muslim]

5. Charity
Quran says
“Those who in charity spend of their goods by night and by day, in secret and in public, have their reward with their Lord: on them shall be no fear, nor shall they grieve” (2:274). “