Islam is a religion of moderation. It is a religion that strives for balance between the physical and the spiritual, between this material world and the Hereafter. Islam therefore opposes materialism or consumerism where one’s existence or happiness is heavily dependent upon the collection of material wealth such as gadgets, real estate, motor vehicles and others. Having said that, Islam also opposes any form of total abandonment of worldly affairs. Islam aims that man achieves the best of both worlds. Allah Himself said in the Quran, ‘Our Lord, give us good in this world and gives us good in the Hereafter.’ Quran 2:210. This is probably one of the best supplications there is, as this encompasses everything that we could hope for in this life such as wealth, well-being and others. And much more, this also encompasses all the good thing to come in the Afterlife.
This supplication, in fact, is memorized by Muslims by heart and is mentioned during Muslim religious activities such as the Friday Sermon or during the performance of circumambulation around the Ka’bah in Mecca.
That being said, let us focus on this world for a while and how we could make our lives here more worthwhile and sustainable. Let us leave the issues about spirituality and the discovery of God in our daily lives. Let’s talk about business and how the Muslims are guided by the Islamic teachings on how to conduct one.
Doing business, such as trading in selling products or owning and managing a company that provides services is the best way that a Muslim could find a living especially when he is living as a minority in a Non-Muslim country like the Philippines. Being self-employed meant that you have freedom with your time because Muslims perform prayers five times a day and spend a whole month every year fasting and these are difficult if the Muslim is employed by a company which may not have religious tolerance or simply could not afford to have a Muslim employee be absent or half-away during those times of worship. It is sad truth that Muslims who are employed in companies often compromise their religion by not wearing the veil for women or not being able to pray on time.
Being engaged in any business is generally allowed in Islam especially if conditions are met by having Halal products and Halal business dealings. Now, you may be surprised to read the word Halal in the business setting especially when what you have known about Halal is all about food. Well, Halal is not limited to food that does not contain pork. Halal is an all-encompassing word that meant that such a thing, ideal or practice is allowed for Muslims to be involved in. Technically, Halal products and services are those that do not contain anything prohibited or directly result to any spiritual or physical harm to Muslims and Non-Muslims who may avail of these products or services.
Having Halal merchandise for example, meant that the Muslim may not sell religious images, liquor, cigarettes, drugs, pornography and others in his store. He may otherwise sell anything that is not prohibited such as food, clothing etc. However, there are questions about merchandise that are generally neutral but may be utilized negatively such as firearms or some articles of clothing especially women’s and others. These articles may still be sold because their use shall be at the buyer’s discretion and not the seller. These were sold for a general benefit that any crime that arises beyond the sale or purchase is never the seller’s fault unless the seller breaks some of the laws regarding selling.
Having Halal services too is generally allowed like construction, maintenance, and Auto-mechanic. These are all allowed. However there will be issues if what you are constructing or will be working in for example, is a bar for drinking liquor, casino for gambling or a brothel for prostitution or a church. All these are clearly to be avoided at all costs.
Halal business dealings meant that it should be free from the prohibited types of business dealings. The first of this usury, the businessman may not involve himself in borrowing money from a bank or anyone only to return it with interest. If he needed money for the expansion of his business, he may take an investor and give him equity of his company. Or he may borrow money from a brother in faith who may lend him money without interest.
Trading is where many of these un-Islamic business practices aside from usury happen. The Arabic word Gharar is a fairly broad concept that literally means deceit, risk, fraud, uncertainty or hazard that might lead to destruction or loss. Scholars have defined Gharar as “something which its consequence is undetermined.” Islamic trading is built upon honesty, transparency and fairness to all parties concerned. Gharar occurs in all sorts of transactions where the subject matter, the price or the two, are not determined and fixed in advance. Speculative activities in capital market, derivatives instruments and short-selling contracts are bright examples of Gharar in modern finance.
Common examples of Gharar is from what Prophet Muhammad has forbidden on the purchase of the unborn animal in the mother’s womb, the sale of the milk in the udder without measurement, and the purchase of the catch of a fisherman even before the determination of how much fish was actually caught. As you can see here, these are all uncertain. A person may have paid already and suddenly, the animals’ child was stillborn, or the cow suddenly does not produce milk or the fisherman did not catch much fish that day – this is going to cause trouble to the buyer.
Another prohibition in trading is the sale of something that is not in your possession which is the common trend now among online sellers especially on their pre-order basis, where they sell a product that is not theirs and they will only buy it to be sold to the buyer once payment was made to them.
