Citation: Babamole, M.S. (2025). The Concept of Money and Islamic Principles of Spending for Wealth Enhancement: An Analysis from a Shari‘ah Perspective. Tasambo Journal of Language, Literature, and Culture, 4(2), 122-134. www.doi.org/10.36349/tjllc.2025.v04i02.014.
THE CONCEPT OF MONEY AND ISLAMIC PRINCIPLES OF SPENDING FOR WEALTH ENHANCEMENT: AN ANALYSIS FROM A SHARI‘AH PERSPECTIVE
BABAMOLE, Murtadah Shu‘aib
Department of Islamic Studies, Faculty
of Arts,
University of Abuja, P.M.B. 117,
Abuja-Nigeria.
Email: babamole.murtadah@uniabuja.edu.ng or mushbabz4all@gmail.com
08136338869, 08052911773
Abstract
One of the major determinant factors for fortune-making,
meaningful advancement, and financial development of a person lies in their
benevolent activities. Spending is a social act voluntarily done by every
meaningful, humble, and pious individual for the redistribution and circulation
of wealth amongst the poor masses of their state or geographical location,
purposely done for welfare assistance, humanitarian upliftment, poverty
alleviation, and the social well-being of their fellow citizens. To this end, as
an empirical and conceptual study of mixed-method research with a detailed
hypothesis, the paper outlines the history, classifications, and theory of
money. It explains in depth the Islamic viewpoints on money vis-à-vis its
spending methodologies. The paper adopts both quantitative and qualitative
research methods to examine the Islamic approach towards spending money for
gaining more fortunes. The article, however, analytically examines the concepts
of money from the conventional and Islamic outlooks. Finally, the study
evaluates all the reviewed literature gathered from libraries, ranging from
Islamically available classical books, blended with Internet findings and some
other contemporary scholars’ works (modern books) on the subject matter, and
then suggests a direction for future researchers on the Islamic guide towards
money-spending behaviors that guarantee gaining more of the divine fortunes.
Keywords: Shari‘ah, Money, Spending, Fortune, Evolution,
Barter, Fiat
Introduction
The Prophet strongly encouraged fair
trade that produces lawful money; he also emphasized ethical financial
practices and social justice based on trust (al-Maqriziy, 1913; & Ibn
Khaldun, 1917). This system, however, developed into the Islamic Golden Age,
witnessing the increased demand and adoption of copper coins and paper money
(fiat currencies or banknotes), which later replaced the traditional era of
specie money (Syarifuddin, et al., 2025). And this recently led to another
innovative financial instrument or institution that eventually emerged, which
played a pivotal role in financing trades and other infrastructural
developments (Aftab-Razfi, 2024). The money we commonly use today is mere paper
notes, but it is of great value due to its general acceptance by the
authorities all over the world (as legal tender), inasmuch as it does not involve
usury/riba and other salient principles of Islamic finance (Mufti-Fahad, 2017;
& Alaro, 2021). However, scholars also identified the recent digital
currencies (Internet money) as another new currency era that evolved through
the process of money evolution, the legality or illegality of which remains
uncertain, as many financial experts continue to argue about it extensively up
till today (Hanif, 2020). In summary, the evolution, according to the chain,
came through: Barter ̶˃ Commodity money ̶˃ Metallic money ̶˃ Fiat money ̶˃ Digital currency (Mufti-Muhammad, 2017).
Concept
of Money from the Conventional outlook
From
a conventional outlook, money is anything that is widely approved by the
constituted authorities and strongly accepted by the generality of people as a
medium of exchange, a unit of account, and a store of value that makes
transactions smoother, safer, and promotes economic growth and wealth
development. Noureddine & Hassan (2019:5) quoted Lord Liverpool (1805) to
have defined money in terms of two properties: a standard of value and an
equivalent in exchange. Meaning that it is as valuable in exchange as the
commodity for which it is exchanged. He says: “The Money or Coin of a country
is the standard measure by which the value of all things is regulated and
ascertained, and it is itself, at the same time, the value or equivalent for
which goods are exchanged and in which contracts are generally made payable.”
Einaudi (1936) says: “Money is an instrument of trade and money is a unit of
account.” Hume (1752), Smith (1776), and Ricardo (1817) also noted that: “Money
was an international commodity and should be distributed among countries in
such a manner that no country could have a surplus or a storage of it.” See
also: Sergio-Rossi (1992: 2–6). In a nutshell, money is a social agreement, and
it can keep its value only if people have value in it (Bank of Canada, 2020).
The
Islamic Concept of Money
A
certified Islamic Finance Executive—CIFE (Mudhakkir, 2016:14) says: “In Islam,
there is no specific definition of money per se basically because all the
Islamic principles are based on Shari‘ah. Money is defined differently from the
Islamic point of view than it is in the Western perspectives. Islam combines
ethical context with complementary morals in the nature of money, as against
the capitalist and socialist systems.” Thus, money is seen in Islam as the
embodiment of justice and equality in meeting and fulfilling religious
obligations with fairness. It also helps to reduce poverty, as far as Islam is
concerned (Lazuardiniy, Suman, Multifiah, and Asfi, 2021). Meera & Larbani
(2006), as was quoted in Alam (2020:40), seem to have given the broadest and
most widely accepted definitions of money by saying: “Anything that is
generally accepted as a medium of exchange or means of payment for goods,
services, and debts is called: Money. Be it in the form of notes or coins or
any valuable commodity or precious metals.”
And
according to Noureddine & Hassan (2019:2): “Money is defined as the cash in
circulation which is unanimously accepted in all transactions. Previously, it
included gold and silver coins but presently, it is the government
currency/legal tender. Money thus includes all that is allowed by law to
circulate through endorsement. Money was invented to circumvent barter trade
and to promote commerce within and across countries. Without money, any
economy, regardless of how advanced it may be, will collapse into starvation
and social disorder.”
Mufti-Faraz
(2022) summed it up with these tips on money: “At its core, money is simply a
social construct that allows for the exchange of goods and services. Money is a
social technology composed of several features. Money is a set of ideas and
practices which organize what we produce and consume and the way we live
together. Money is a language by which the economy is coded. Also, a good that
assumes the role of a widely accepted medium of exchange is called money.”
In
addition, any money earned through fraudulent acts, corrupt practices, and
financial crimes such as cheating, scamming, stealing, usury, rituals, murder,
etc., is never regarded as healthy money and is Islamically haram. In Q11:85,
Allah says:
"...وَلَا تَبْخَسُوا۟ ٱلنَّاسَ أَشْيَآءَهُمْ وَلَا تَعْثَوْا۟ فِى
ٱلْأَرْضِ مُفْسِدِينَ"
“…
Do not defraud people of their things, and do not go about spreading corruption
in the land”.
Ibn
al-Qayyim (d.751 H) states: “Money is never sought for itself; rather, it is
used as a means to gain commodities”.
Imam
al-Ghazaliy (d.505 H) too states that: “Almighty Allah created the Dinar and
Dirham for circulation, to be an equitable and just standard between different
assets. Thus, they are the means to all other assets; they are precious in
themselves but not desired for themselves”.
In
another place, he also said: “Money is like a mirror which reflects everything
but is not reflected itself. Another wisdom behind the creation of money is to
act as a medium to all other assets for exchange purposes”.
Researches
on this concept indicates that Allah is the Supreme Owner of everything
including all our wealth:
لَهُۥ مَا فِى ٱلسَّمَـٰوَٰتِ وَمَا فِى ٱلْأَرْضِ وَمَا بَيْنَهُمَا
وَمَا تَحْتَ ٱلثَّرَىٰ"”
“To Him belongs whatever is in the heavens and whatever is on
the earth and whatever is in between and whatever is underground”. - Q20:6)
And
money is just a property held by man as vicegerents of the Giver. This is
testified to by Allah in Suratu’l-An‘aam (Q6:165) that reads:
"وَهُوَ ٱلَّذِى
جَعَلَكُمْ خَلَـٰٓئِفَ ٱلْأَرْضِ وَرَفَعَ "بَعْضَكُمْ فَوْقَ بَعْضٍۢ
دَرَجَـٰتٍۢ لِّيَبْلُوَكُمْ فِى مَآ ءَاتَىٰكُمْ..."
“He is the One Who has placed you as successors on earth and
elevated some of you in rank over others, so He may test you with what He has
given you…”
The
blessings of which should be judiciously used, tactically managed, and wisely
invested following the Shari‘ah. Allah, in Suratu’n-Nisa’i (Q4:29), confirmed
to this by saying:
" يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟
لَا تَأْكُلُوٓا۟ أَمْوَٰلَكُم بَيْنَكُم بِٱلْبَـٰطِلِ إِلَّآ أَن تَكُونَ
تِجَـٰرَةً عَن تَرَاضٍۢ مِّنكُمْ ۚوَلَا تَقْتُلُوٓا۟ أَنفُسَكُمْ إِنَّ ٱللَّهَ
كَانَ بِكُمْ رَحِيمًۭا ".
“O
you believers! Do not consume one another’s wealth illegally, except it be trading
among you by your mutual consent. And do not kill each other. Surely Allah is
ever Merciful to you all”.
However,
among the essence of which wealth is to be sought is that it should be used in
seeking for the eternal bliss! Allah says:
" "... فَٱسْتَبْشِرُوا۟ بِبَيْعِكُمُ ٱلَّذِى بَايَعْتُم بِهِۦ
وَذَٰلِكَ هُوَ ٱلْفَوْزُ ٱلْعَظِيمُ
“…So
rejoice in your transactions which you have made, and that is the great
achievement”. -(Q9:111)
And
to benefit the entire humanities or one’s community at large. On this, Allah
commanded us again in Suratu’n-Nuur (Q24:33) by saying:
... وَآتُوهُم مِّن مَّالِ اللَّـهِ الَّذِي آتَاكُمْ ..."”
“…and
give them from the wealth of Allah which He has given you…”.
The
similitude/parable of which was made known to us by Allah in Baqarah (Q2:261)!
Money
(be it dinar/dirham), according to Islam, has no intrinsic value but is
regarded as a medium of exchange or a means to measure value and a tool for all
transactions (Mudhakkir, 2016:10). That is, money is a measure (miqyaas) and
the barometer of value. Generally, money is the most precious form of wealth.
Islam only recognizes commodities that have value in themselves as money, for
example: gold, silver, etc. Money cannot be sold, bought, nor rented out to
generate surplus value by itself (thus, you can’t loan money out to make
profit), and all units of money of the same denomination are 100% equal to each
other as far as Islam is concerned (Ibn Hajar, 1933:784).
That
is, according to Islam, money is a potential capital that can only be generated
through lawful trades and investments, where parties involved share the risks
and rewards. It can also be exchanged for goods and services, and cannot be
directly exchanged for money again—“money-for-money” (i.e., FOREX)—or “trading
in same currency denominations” (i.e., mint/new notes for old money), exactly
as seen being widely practiced by some Muslim brothers in some selected areas
around the northern part of Nigeria. For example: at Oja-Tuntun market in
Ilorin, at Old Motor Park ‘from Samaru before the Fly-Over’, and at Zaria Hotel
before Kongila, at Central Hotel axis in Bompai, Kano, and at Deidei area in
Abuja. The action, which was unanimously agreed by the scholars to be
tantamount to riba and ghishshu, unless the exchange is genuine, spontaneous,
and at spot rate! (Hafizi, 2018). Strategically, trading currencies merely for
profit opens the doors to manipulation of pricing and skewing of the unit of
account (Mufti-Faraz, 2022).
Ibn
al-Qayyim (n.d.) elsewhere opined that:
“When
money begins to be treated as a commodity and becomes the objective of
transactions, the entire economic system will become corrupted and be in
serious crisis.”
Imam
al-Ghazali (n.d.) declared again that:
“When
money is traded for itself, then this is against the very wisdom and purpose of
money. Seeking money for other than its purpose is exploitation and
mistreatment of money.”
On
his own part, however, Ibn Taymiyyah (d.728 H) states that:
“The
Shari‘ah has no specific definition for money and currency; it has instead left
it to the ‘urf and understanding of the people. Thus, money is what is
identified by the agreement of the people.”
In
Islam also, money is just one of those things that makes this worldly life
awesome and more enjoyable:
“ٱلْمَالُ وَٱلْبَنُونَ زِينَةُ ٱلْحَيَوٰةِ ٱلدُّنْيَا”
“Wealth
and children are the adornment of this worldly life…” -Kahf (Q18:46).
And
a proper management of these monetary assets can help to link the social and
religious dimensions coherently. (Lazuardiniy, Suman, Multifiah, and Asfi,
2021)
So,
money only becomes capital (in Islam) when combined with other factors of
production, and by itself, has no opportunity cost (as is the case with the
passive lenders). It is only investors who are partners by taking risks in
commerce that can actively earn profits/rewards (Ayoub, 2002:12). The
transactions of sale and purchase of commodities can only be effected on an
identified and specific commodity. For money has a standard of value which
measures the relative different goods and services (Mohsin, 2009 & Meera,
2002).
Money,
according to Islam again, is used as a means to gain goodness, fulfill
religious obligations (i.e, Zakkat, Mirath, Infaq, Qurban, and Sadaqah),
achieve survival needs, and gain social status. But being extravagant,
individualistic, and excessive with one’s money is Islamically prohibited. The
importance of wealth in Islam is regulated in terms of its use as well as by
the Mu‘amalah recommendations contained in the longest verse of
Suratu’l-Baqarah (Q2:282). Thus, money is directly associated with people’s
economic activities, to fulfill both their material functions and religious
obligations, which should never be saved/hoarded but should be distributed
judiciously as contained in Suratu’t-Tawbah (Q9:34), which reads:
"يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوٓا۟ إِنَّ كَثِيرًۭا مِّنَ
ٱلْأَحْبَارِ وَٱلرُّهْبَانِ لَيَأْكُلُونَ أَمْوَٰلَ ٱلنَّاسِ بِٱلْبَـٰطِلِ
وَيَصُدُّونَ عَن سَبِيلِ ٱللَّهِ وَٱلَّذِينَ يَكْنِزُونَ ٱلذَّهَبَ وَٱلْفِضَّةَ
وَلَا يُنفِقُونَهَا فِى سَبِيلِ ٱللَّهِ فَبَشِّرْهُم بِعَذَابٍ أَلِيمٍۢ"
"O
you believers! Indeed, many of the scholars and the monks consume people’s
wealth wrongfully (i.e, false pretense) and divert them from the way of Allah.
Give tidings of a painful punishment to those who hoard gold and silver and do
not spend it in Allah’s cause".
For
free market principle being an Islamic principle, that is why Islam totally
accept exchange with gold, silver, dates wheat, barley and salt (in vice versa)
because, these items were used as money in barter system during the era of
Prophet Muhammad (phub) and were known as Sunnah money then. In an authentic
hadith, ‘Ubadah Ibn as-Samit narrated that:
"جَمَعَ الْمَنْزِلُ بَيْنَ عُبَادَةَ بْنِ الصَّامِتِ
وَمُعَاوِيَةَ حَدَّثَهُمْ عُبَادَةُ قَالَ نَهَانَا رَسُولُ اللَّهِ صلى الله
عليه وسلم عَنْ بَيْعِ الذَّهَبِ بِالذَّهَبِ وَالْوَرِقِ بِالْوَرِقِ وَالْبُرِّ
بِالْبُرِّ وَالشَّعِيرِ بِالشَّعِيرِ وَالتَّمْرِ بِالتَّمْرِ - قَالَ
أَحَدُهُمَا وَالْمِلْحِ بِالْمِلْحِ وَلَمْ يَقُلْهُ الآخَرُ - إِلاَّ مِثْلاً
بِمِثْلٍ يَدًا بِيَدٍ وَأَمَرَنَا أَنْ نَبِيعَ الذَّهَبَ بِالْوَرِقِ
وَالْوَرِقَ بِالذَّهَبِ وَالْبُرَّ بِالشِّعِيرِ وَالشَّعِيرَ بِالْبُرِّ يَدًا
بِيَدٍ كَيْفَ شِئْنَا قَالَ أَحَدُهُمَا فَمَنْ زَادَ أَوِ ازْدَادَ فَقَدْ
أَرْبَى" .
“…‘Ubadah
Ibn as-Samit and Mu’awiyah met at a stopping place on the road. ‘Ubadah told
them: The Messenger of Allah forbade selling of gold for gold, silver for
silver, wheat for wheat, barley for barley, dates for dates’. One of them
added: ‘And salt for salt’ but, the other did not say it - ‘Except like for
like, hand to hand’. And he (pbuh) commanded us to sell gold for silver, and
silver for gold, and wheat for barley, and barley for wheat, and payment being
made (hand to hand) however we wanted. One of them added: ‘And whoever gives
more or ask for more has engaged in Riba’
- (Sunan an-Nasa’i: 4560)
The
father of Islamic Economics and the forerunner of Social Sciences (Ibn Khaldun,
1377) in his Maqaddimah as was quoted by Abdullah, 2018: 3-6 & 11-13, also
gave Money a comprehensive meaning in a more elaborated way. In contrary to
that, Allah again, seriously warned us against the unethical misuse of money
that may eventually ruin the bearer’s entire life. Suratu’l-Munafiquun (Q63:9)
is a great pointer to this assertion as it says:
يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟ لَا تُلْهِكُمْ أَمْوَٰلُكُمْ وَلَآ
أَوْلَـٰدُكُمْ عَن ذِكْرِ ٱللَّهِ وَمَن يَفْعَلْ ذَٰلِكَ فَأُو۟لَـٰٓئِكَ هُمُ
ٱلْخَـٰسِرُونَ"
"O
believers! Do not let your wealth or your children divert you from the
remembrance of Allah. For whoever does so, it is they who are the ˹true˺
losers".
However,
modern forms of money (i.e., paper money & electronic money) should not be
objectionable. Monzer (2013), an expert in Islamic Economics and Finance, said:
Money
is anything that is generally acceptable as a means of exchange/payment without
the need for barter, and it can be in any form: paper, electronic accounts, or
pieces of metals. There is nothing in our Shari‘ah that requires money to be in
a specific form. It is a Shari‘ah-compliant medium of exchange based on the
society’s decision… The fact that our money is in fiat paper currencies and can
easily be printed is not the cause of inflation; rather, governments’/central
banks’ behaviour of being interest-based and printing money unwisely are the
main cause, and this can also be Islamised. – (https://fiqh.islamonline.net)
Additionally,
in Sifat & Muhammad (2018), Zahid and Shapiee (2014) were quoted to have
said:
Paper
money has today become a widely accepted physical representation of money. And
Muslims are seriously warned against the greed of hoarding it.
From
all the above indications, money is the core thing needed in Northern Nigeria
to bridge all the tensions to prosperity (Moghalu, 2019). It remains an
unconditional means of making payments and settling debts - worthless of itself
but symbolizing wealth because it is enshrined in the law and administered by
the government as a public resource. Although barter and cowries were used as
currencies in those days around 1700 upwardly before Pounds, Shillings, and
Penny coins were introduced and used between 1958 (with the establishment of
the Central Bank of Nigeria) down to 1972. Thereafter, Naira and Kobo were
introduced on 1st January 1973 by Chief Obafemi Awolowo to replace the latter
at a rate of ₤1 = ₦2 and ₦1
to US60 cents then, but in less than 5 decades now, the reverse is the case, as
the value has drastically declined in the world parallel markets today
(Anyaeche, 2022).
The
evolutions of which have long developed in Nigeria as a whole: from bartering
to the use of cowrie shells, to coins, to banknotes, to E-Money/E-Naira, and to
all what we are having as money today. That is why Northern Nigerian commoners
see money as man’s servant rather than his master (Obaro, 1975 & Hogan,
2015). Their elites, on the other hand, see money as a modifier or as a legally
binding conceptual contract of entitlement to wealth created for trading,
social, and religious purposes—void of intrinsic value, payable for all debts,
transactions, and taxes. Unless there are more concerted efforts to open it up
for trading, Northern Nigeria’s fall into wider instability will be harder to
stop (Hoffmann, 2014:20).
While
Western culture relatively conceived money as a commodity accepted by general
consent for transactions, i.e., barter or a current medium of exchange in the
form of coins and banknotes (fiat money/currency, as authorized by the
government) that circulates from person to person and country to country
facilitating trades (Truitt, 2020). It is the principal measure of wealth that
serves as a legal tender for all debts and expenses. Thus, money is what it
does or anything that is generally acceptable as a means of exchange and at the
same time acts as a measure of value, unit of account, and so on, which
includes: coins, notes, bank drafts, cheques, bills of exchange, etc. (Walker
& Thomas, 1992).
Robertson
(n.d.) viewed money as: “Anything that is widely accepted in payments for goods
and services or in discharge of other kinds of business obligations.” Prof.
Marshall (n.d.) also submitted that: “Money constitutes all those things which
are at any time and place generally accepted without doubt or special enquiry;
as a means of purchasing commodities, services and of defraying expenses.”
And
according to Aristotle (322–384 BC): “Money is a kind of commodity that
fulfills three (3) functions. It serves as: (i) a medium of exchange, (ii) a
unit of account, and (iii) a store of value. Money is a legal invention or
creature of law. It’s an abstract legal power, publicly controlled for the
common good.” (Smith, 1776; Menger, 1892 & DeBruin, 2018)
Western
scholars believed that money has a transactional dimension that seeks to
maximize profits. It is believed to be an asset that is hoarded, which affects
the social strata of a given society. The more their assets, the more they
impact purchasing power, and the more they encourage individuals to be more
arrogant. That is the spirit of money! (Freire, 2000 & Imania, 2021)
Modern
forms of money therefore include: currency (coins & notes), deposit/bank
money, legal tender money, assets/near money, electronic money, fiat money, and
barter system. Accordingly, types/kinds of money these days also include:
commodity/goods money, cattle/animal money, paper money (notes), metallic money
(coins), plastic money (credit & debit cards), and now, E-Money (digital
money/online money/wallets).
Nevertheless,
other aspects that need special attention and critical analysis (aside from the
definitions) include: money philosophy, psychology of money, money obsession,
pillars of money, principles of money, functions of money, ethics of money,
etc., from the Islamic and Western viewpoints.
The
Shari‘ah Guide on Money Spending and Fortune Making
Islam
places much emphasis on spending money in the form of generosity to demonstrate
kindness to others. Thus, Islam encouraged Muslims to practice charitable
giving and instilled in them the belief that they will be rewarded with greater
blessings here and unmatched rewards in the hereafter. In Suratu’l-Hadeed
(Q57:7), Allah says:
" ءَامِنُوا۟ بِٱللَّهِ وَرَسُولِهِۦ وَأَنفِقُوا۟ مِمَّا
جَعَلَكُم مُّسْتَخْلَفِينَ فِيهِ ۖ فَٱلَّذِينَ ءَامَنُوا۟ مِنكُمْ وَأَنفَقُوا۟
لَهُمْ أَجْرٌۭ كَبِيرٌۭ ".
“Believe
in Allah and His Messenger, and spend out of that which He has entrusted you
with. For those who have believed among you and spent (in ways pleasing to
Allah), there will be a mighty reward”.
In
Suratu’l-Munaafiquun (Q63:10-11), Allah says:
" وَأَنفِقُوا۟ مِن مَّا رَزَقْنَـٰكُم مِّن قَبْلِ أَن
يَأْتِىَ أَحَدَكُمُ ٱلْمَوْتُ فَيَقُولَ رَبِّ لَوْلَآ أَخَّرْتَنِىٓ إِلَىٰٓ
أَجَلٍۢ قَرِيبٍۢ فَأَصَّدَّقَ وَأَكُن مِّنَ ٱلصَّـٰلِحِينَ . وَلَن يُؤَخِّرَ
ٱللَّهُ نَفْسًا إِذَا جَآءَ أَجَلُهَا ۚ وَٱللَّهُ خَبِيرٌۢ بِمَا تَعْمَلُونَ
"
“And spend from what We have provided for you before death comes
to one of you, and he cries; ‘My Lord! If only You would delay me for a short
while, I would give in charity and be among the righteous ones. But Allah had
never delayed a soul when its appointed time comes. And Allah is All-Aware of
what you do”.
And
in at-Taghaabun (Q64:16), He says:
"فَٱتَّقُوا۟ ٱللَّهَ مَا ٱسْتَطَعْتُمْ وَٱسْمَعُوا۟
وَأَطِيعُوا۟ وَأَنفِقُوا۟ خَيْرًۭا لِّأَنفُسِكُمْ ۗ وَمَن يُوقَ شُحَّ نَفْسِهِۦ
فَأُو۟لَـٰٓئِكَ هُمُ ٱلْمُفْلِحُونَ"
“So,
fear Allah to the best of your ability, hear, obey and spend; that is better
for yourselves. And whoever is protected from the selfishness of his own souls
(stinginess), it is those who will be ‘truly’ successful”.
As
a distinct act of worship that attracts greater benefits for all, spending
(especially in the current era that we are facing a rising cost of living in
Nigeria) remains humanitarian assistance inform of solidarity with the
underprivileged people; befitting the Qur’anic concept of ‘al-Birr’-(Righteousness)
which includes: Feeding the poor and the needy. Assisting the vulnerable.
Supporting the orphans, widows, travelers, beggars, relatives, etcetera. And
spending in the way or cause of Allah, amongst others. In Suratu’l-Baqarah
(Q2:177), Allah says:
"لَّيْسَ ٱلْبِرَّ أَن تُوَلُّوا۟ وُجُوهَكُمْ قِبَلَ
ٱلْمَشْرِقِ وَٱلْمَغْرِبِ وَلَـٰكِنَّ ٱلْبِرَّ مَنْ ءَامَنَ بِٱللَّهِ
وَٱلْيَوْمِ ٱلْـَٔاخِرِ وَٱلْمَلَـٰٓئِكَةِ وَٱلْكِتَـٰبِ وَٱلنَّبِيِّـۧنَ
وَءَاتَى ٱلْمَالَ عَلَىٰ حُبِّهِۦ ذَوِى ٱلْقُرْبَىٰ وَٱلْيَتَـٰمَىٰ
وَٱلْمَسَـٰكِينَ وَٱبْنَ ٱلسَّبِيلِ وَٱلسَّآئِلِينَ وَفِى ٱلرِّقَابِ وَأَقَامَ
ٱلصَّلَوٰةَ وَءَاتَى ٱلزَّكَوٰةَ وَٱلْمُوفُونَ بِعَهْدِهِمْ إِذَا عَـٰهَدُوا۟ ۖ
وَٱلصَّـٰبِرِينَ فِى ٱلْبَأْسَآءِ وَٱلضَّرَّآءِ وَحِينَ ٱلْبَأْسِ ۗ أُو۟لَـٰٓئِكَ
ٱلَّذِينَ صَدَقُوا۟ ۖ وَأُو۟لَـٰٓئِكَ هُمُ ٱلْمُتَّقُونَ"
“Righteousness
is not in turning your faces towards the east or the west. Rather, the
righteous are those who believe in Allah, the Last Day, the Angels, the Books,
and the Prophets; and who give charity(spend) out of their cherished wealth to
relatives, orphans, the poor ˹needy˺,
the travelers, the beggars, and for freeing captives ‘slaves’;
and who establishes prayer, pay alms-tax ‘gives
zakkaat’,
and those who keep the pledges ‘promises’
when they make; and those who are patient in times of suffering, adversity and
in ˹the heat of˺
battle. Those are the ones who are true in faith, and it is they who are
righteous”.
This
verse emphasized the importance of spending for every Muslim because it is a
natural reaction to making life easy for others. Elsewhere in Suratu’l-Ma‘aarij
(Q70:24-25), Allah reminds us again that there is a recognized right for the
needy and the deprived ones over our wealth; by giving in charity to earn the
divine blessings, pleasure and paradise. He says:
"وَٱلَّذِينَ فِىٓ أَمْوَٰلِهِمْ حَقٌّۭ مَّعْلُومٌۭ .
لِّلسَّآئِلِ وَٱلْمَحْرُومِ"
“And those within whose wealth is a known right (specified
share) * For the beggars and the poor ones”.
Generosity
is the only key to success and a means of expanding one’s Rizq as far as Islam
is concerned! In many Qur’anic verses and Prophetic traditions, however, Allah
encouraged spending in ways pleasing to Him so as to get our wealth
maximized/increased, and discouraged miserliness in order not to be ruined out
of stinginess. Thus, the Islamic religion made the acts of spending akin to an
obligatory task for its adherents. For example, in Suratu’l-Baqarah (Q2:195),
Allah says:
وَأَنفِقُوا۟
فِى سَبِيلِ ٱللَّهِ وَلَا تُلْقُوا۟ بِأَيْدِيكُمْ إِلَى ٱلتَّهْلُكَةِ ۛ
وَأَحْسِنُوٓا۟ ۛ إِنَّ ٱللَّهَ يُحِبُّ ٱلْمُحْسِنِينَ.
“And
spend in the ways pleasing to Allah and do not throw yourselves with your own
hands into destruction (by refraining). And be generous; indeed, Allah
loves the doers of good”.
As
Muslims, the Qur’an teaches us that we will never attain righteousness level,
until we spend in charity from those things we love most. In Aal-Imraan
(Q3:92), He says:
"لَن
تَنَالُوا۟ ٱلۡبِرَّ حَتَّىٰ تُنفِقُوا۟ مِمَّا تُحِبُّونَۚ وَمَا تُنفِقُوا۟ مِن
شَیۡءࣲ فَإِنَّ ٱللَّهَ بِهِۦ عَلِیمࣱ"
“Never will you ever
attain righteousness, until you spend (in the ways pleasing to Allah) from what
you hold dearest to your heart. And whatever you spend is indeed, well known to
Allah”.
For more details, in the
same Aal-Imraan (verses: 133- 134), Allah further encouraged us to rush
into spending in the ways so pleasing to/by Him without fear of backwardness;
for our maximum gain. He says:
"
وَسَارِعُوٓا۟ إِلَىٰ مَغْفِرَةٍۢ مِّن رَّبِّكُمْ وَجَنَّةٍ عَرْضُهَا
ٱلسَّمَـٰوَٰتُ وَٱلْأَرْضُ أُعِدَّتْ لِلْمُتَّقِينَ . ٱلَّذِينَ يُنفِقُونَ فِى
ٱلسَّرَّآءِ وَٱلضَّرَّآءِ ..."
“And hasten towards
forgiveness from your Lord and a Paradise as wide as the heavens and the earth,
prepared for the righteous ones. They are those who spend (in the ways pleasing
to Allah), in prosperity (during ease), and in adversity (during hardship) …”
Also, in Suratu’l-Anfaal
(Q8:3-4), Allah says:
"ٱلَّذِينَ يُقِيمُونَ ٱلصَّلَوٰةَ وَمِمَّا رَزَقْنَـٰهُمْ يُنفِقُونَ.أُو۟لَـٰٓئِكَ
هُمُ ٱلْمُؤْمِنُونَ حَقًّۭا لَّهُمْ دَرَجَـٰتٌ عِندَ رَبِّهِمْ وَمَغْفِرَةٌۭ وَرِزْقٌۭ
كَرِيمٌۭ".
“Those who
establish prayer and spend from what We have provided for them. They are the true believers. For them are degrees of high
position (elevated ranks) with their Lord, and forgiveness, and noble
provision (increments)”.
In another authentic
hadith that was related by Abiy-Hurayrah(rta), the Prophet(pbuh) says:
" ما من يوم يصبح العباد فيه إلا ملكان ينزلان فيقول أحدهما:
اللهم أعط منفقاً خلفاً ويقول الآخر: اللهم أعط ممسكاً
تلفاً" .
"No day in
which servants of Allah rise/wake up, except that two angels descend (from
heaven). One of them will be saying: 'O Allah! Compensate more to the person
who spends in the ways pleasing to Allah (expand wealth for the giver!)'. And
the other one would be saying: 'O Allah! Destroy the wealth of the one who
withholds (with the intention of not spending anything!)". -(Riyadu’s-Saliheen:
547)
Again, in one
Hadithu’l-Qudsiy that was narrated by same Abiy-Hurayrah(rta) as recorded in
Saheeh Bukhariy & Muslim, the Prophet(pbuh) was still reported Allah to
have said:
قال الله تعالى: أَنْفِق
يا ابن آدم أُنْفِق عليك"
“Spend (in the ways
pleasing to me) Oh sons of Adam, and I will maximize/expand your Rizq for you!”
Concomitantly, we should
have faith that a sincere act of giving can bring back abundant blessings. An
ostentatious public display of wealth renders a charitable act self-serving and
thereby, negate the rewards and compromise the blessings. Regarding Allah’s
warning on not to spoil whatever we spend with reminder, injury and
showing-off. On how spending can earn us Allah’s Pleasure and enlarge our Rizq.
And concerning how Allah is going to return whatever we spend in His way back
for us in multiple (i.e; the similitude of GRAIN), among others… In Baqarah
(Q2: 261-265), Allah says:
"مَّثَلُ
ٱلَّذِينَ يُنفِقُونَ أَمْوَٰلَهُمْ فِى سَبِيلِ ٱللَّهِ كَمَثَلِ حَبَّةٍ
أَنۢبَتَتْ سَبْعَ سَنَابِلَ فِى كُلِّ سُنۢبُلَةٍۢ مِّا۟ئَةُ حَبَّةٍۢ ۗ
وَٱللَّهُ يُضَـٰعِفُ لِمَن يَشَآءُ ۗ وَٱللَّهُ وَٰسِعٌ عَلِيمٌ . ٱلَّذِينَ
يُنفِقُونَ أَمْوَٰلَهُمْ فِى سَبِيلِ ٱللَّهِ ثُمَّ لَا يُتْبِعُونَ مَآ
أَنفَقُوا۟ مَنًّۭا وَلَآ أَذًۭى ۙ لَّهُمْ أَجْرُهُمْ عِندَ رَبِّهِمْ وَلَا
خَوْفٌ عَلَيْهِمْ وَلَا هُمْ يَحْزَنُونَ . قَوْلٌۭ مَّعْرُوفٌۭ وَمَغْفِرَةٌ
خَيْرٌۭ مِّن صَدَقَةٍۢ يَتْبَعُهَآ أَذًۭى ۗ وَٱللَّهُ غَنِىٌّ حَلِيمٌۭ .
يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟ لَا تُبْطِلُوا۟ صَدَقَـٰتِكُم بِٱلْمَنِّ
وَٱلْأَذَىٰ كَٱلَّذِى يُنفِقُ مَالَهُۥ رِئَآءَ ٱلنَّاسِ وَلَا يُؤْمِنُ
بِٱللَّهِ وَٱلْيَوْمِ ٱلْـَٔاخِرِ ۖ فَمَثَلُهُۥ كَمَثَلِ صَفْوَانٍ عَلَيْهِ
تُرَابٌۭ فَأَصَابَهُۥ وَابِلٌۭ فَتَرَكَهُۥ صَلْدًۭا ۖ لَّا يَقْدِرُونَ عَلَىٰ
شَىْءٍۢ مِّمَّا كَسَبُوا۟ ۗ وَٱللَّهُ لَا يَهْدِى ٱلْقَوْمَ ٱلْكَـٰفِرِينَ .
وَمَثَلُ ٱلَّذِينَ يُنفِقُونَ أَمْوَٰلَهُمُ ٱبْتِغَآءَ مَرْضَاتِ ٱللَّهِ
وَتَثْبِيتًۭا مِّنْ أَنفُسِهِمْ كَمَثَلِ جَنَّةٍۭ بِرَبْوَةٍ أَصَابَهَا
وَابِلٌۭ فَـَٔاتَتْ أُكُلَهَا ضِعْفَيْنِ فَإِن لَّمْ يُصِبْهَا وَابِلٌۭ
فَطَلٌّۭ ۗ وَٱللَّهُ بِمَا تَعْمَلُونَ بَصِيرٌ".
“The similitude of
those who spend their wealth in ways pleasing to Allah is that of a grain that
sprouts into seven ears, each bearing one hundred grains. And Allah multiplies ˹the reward even more˺ for whoever He wills. And Allah is All-Bountiful,
All-Knowing. Those who spend their wealth in the cause of Allah and do not
follow up what they have spent with reminders of it or hurtful words – will get their reward
from their Lord, and there will be no fear for them, nor will they grieve. Kind
words and forgiveness are better than charity followed by injury. And Allah is
Self-Sufficient, Most Forbearing. O you who have believed! Do not invalidate
your charities (spendings) with reminders of it or hurtful words; as does one
who spends his wealth just to be seen by the people (show off) and does not
believe in Allah and the Last Day. His example is like that of a hard, barren
rock covered with a thin layer of soil, hit by a strong rain – leaving it just
a bare stone. They are unable to preserve anything of what they have earned.
And Allah does not guide such disbelieving people. And the example of those who
spend their wealth seeking Allah’s pleasure and assuring certain rewards for
themselves is like that of a garden on a fertile hill which is hit by a heavy
rainfall; it yields up its fruits twice its normal produce. And even if it’s
not hit by a heavy downpour, then a drizzle is sufficient. And Allah is
All-Seeing of what you do.”
Additionally, in the
same Suratu’l-Baqarah Q2:270–274), Allah again motivated us to hide all our
charitable acts and never reveal them for public acknowledgment whenever we are
spending! For whatever money we spend, or alms we give, or vow we make (at any
point in time), He knows and shall repay us in multitude by increasing the
wealth and expanding our Rizq. This is in sharp line with one of those 7 things
mentioned by Prophet Muhammad (pbuh) in another hadith that was again related
by Abiy Hurayrah (rta), which reads:
"سَبْعَةٌ يُظِلُّهُمُ اللَّهُ في ظِلِّهِ يَوْمَ لا ظِلَّ إلَّا ظِلُّهُ:
إِمامٌ عادِلٌ، و و و... ورَجُلٌ تَصَدَّقَ بِصَدَقَةٍ فأَخْفَاها، حتَّى لا
تَعْلَمَ شِمالُهُ مَا تُنْفِقُ يَمِينهُ". متفقٌ عَلَيْهِ
Abu-Hurayrah (rta)
reported: Messenger of Allah (pbuh) said: "Seven categories of people who
Allah will put them under His Shade on the Day when there would be no shade
other than the Shade of His Throne (i.e; on the Day of Resurrection): And they
are: “… And a man who spends in charity and conceals it to such an extent
that the left hand does not know what the right hand has given”. -
(Riyadu’s-Saliheen: 449)
From all indications as
seen above, it is very clear that miserliness is entirely discouraged by Allah.
And concerning the hoarders of wealth and the evil of their stinginess, in
verse:180 of Suratu Aal-Imraan again, Allah declared that:
وَلَا
يَحْسَبَنَّ ٱلَّذِينَ يَبْخَلُونَ بِمَآ ءَاتَىٰهُمُ ٱللَّهُ مِن
فَضْلِهِۦ هُوَ خَيْرًۭا لَّهُم بَلْ هُوَ شَرٌّۭ لَّهُمْ سَيُطَوَّقُونَ مَا
بَخِلُوا۟ بِهِۦ يَوْمَ ٱلْقِيَـٰمَةِ وَلِلَّهِ مِيرَٰثُ ٱلسَّمَـٰوَٰتِ
وَٱلْأَرْضِ وَٱللَّهُ بِمَا تَعْمَلُونَ خَبِيرٌۭ.
“And let not those who
are greedily withholding what Allah has given them of His bounties ever
think that it is better for them. Rather, it is worse for them! Their necks
will be encircled by what they withheld on the Day of Resurrection. And to
Allah belongs the heritage of the heavens and the earth. And Allah, with what
you do, is fully Acquainted”.
“Spend, and do not
calculate lest Allah too would count against you. Do not withhold your money
lest Allah would be withholding from you. Spend what you can.” – (Muslim, Book
12, Hadith: 1029 a, b, c & d)
Abu Hurayrah (rta) too
reported that the Prophet (pbuh) said:
“The Lord’s commandment
for every one of His slaves is: Spend on others and I will spend on you.” –
(Muslim, Book 5, Hadith: 2179 / Muslim: 993b)
The question now is:
When spending is Islamically affirmed to be the greatest secret of becoming
rich (wealthy) and subjecting others to your control, when it’s what makes the
spender continue making it in life, and when refusing to spend or give due to greedy
accumulation makes one drastically retrogress or go down in life, then, WHY
WOULDN’T YOU WANT TO SPEND? Be generous!
This is why in
Suratu’z-Zukhruf (Q43:32), Allah further said that:
"أَهُمْ
يَقْسِمُونَ رَحْمَتَ رَبِّكَ نَحْنُ قَسَمْنَا بَيْنَهُم مَّعِيشَتَهُمْ فِى
ٱلْحَيَوٰةِ ٱلدُّنْيَا وَرَفَعْنَا بَعْضَهُمْ فَوْقَ بَعْضٍۢ دَرَجَـٰتٍۢ
لِّيَتَّخِذَ بَعْضُهُم بَعْضًۭا سُخْرِيًّۭا وَرَحْمَتُ رَبِّكَ خَيْرٌۭ مِّمَّا
يَجْمَعُونَ".
“Are they (the ones) who
distribute your Lord’s blessings? It is We who have apportioned their
livelihood among them in this world, and who have raised (exalted) some of them
higher and above others in degrees of rank, so that some of them may make use of
others in service (as servants). But, the mercy(blessings) of your Lord is far
better than whatever wealth they are accumulating”.
Hence, that is why Allah
again, outrightly condemned all stingy persons as contained in Suratu-Muhammad
(Q47:38) by saying:
"هَـٰٓأَنتُمْ
هَـٰٓؤُلَآءِ تُدْعَوْنَ لِتُنفِقُوا۟ فِى سَبِيلِ ٱللَّهِ فَمِنكُم مَّن
يَبْخَلُ وَمَن يَبْخَلْ فَإِنَّمَا يَبْخَلُ عَن نَّفْسِهِۦ وَٱللَّهُ ٱلْغَنِىُّ
وَأَنتُمُ ٱلْفُقَرَآءُ وَإِن تَتَوَلَّوْا۟ يَسْتَبْدِلْ قَوْمًا غَيْرَكُمْ
ثُمَّ لَا يَكُونُوٓا۟ أَمْثَـٰلَكُم"
“Here you are,
being invited to spend in the ways pleasing to Allah. But, some of you withhold
out of greed. And whoever withholds only withholds blessings from himself. For
Allah is the Self-Sufficient, whereas you are the needy ones. And if you turn
away (refuse to spend), He will replace you with other sets of people; and they
will never be like you”.
In an
authentic Hadith of 'Abdullah bin Ash-Shikhkhir (rta) that reads:
وعن
عبد الله بن الشخير رضي الله عنه، أنه قال: أتيت النبي، صلى الله عليه وسلم،
وهو يقرأ: { ألهاكم التكاثر...} قال: " يقول ابن آدم: مالي، مالي! وهل لك يا ابن آدم من مالك إلا ما أكلت
فأفنيت، أو لبست فأبليت، أو تصدقت فأمضيت؟!"- مسلم
'Abdullah
bin Ash-Shikhkhir (rta) reported
that: I came to the Prophet (pbuh) while he was reciting: "The mutual
rivalry (for hoarding worldly things) preoccupy you. Until you visit the graves
(i.e., till you die). Nay! You shall come to know! Again nay! You shall come to
know! Nay! If you knew with a sure knowledge (the end result of hoarding, you
would not have been occupied in worldly things). Verily, you shall see the
blazing Fire (Hell)! And again, you shall see it with certainty of sight! Then
(on that Day) you shall be asked about the delights (you indulged in, in this
world)!" Suratu’t-Takkaathur (Q102:1-8). (After reciting this), He (pbuh)
said: "Son of Adam says: 'My wealth, my wealth!' Do you own of your wealth
other than what you eat and consume, and what you wear and wear out, or what
you give in Sadaqah (charity) to those who deserve it, and that which you will
have in stock for yourself." - Reported by: Muslim. -(Riyadu’s-Saliheen: 482)
To buttress
this further, elsewhere in Tawraat (Torah), Allah (SWT) said:
يقول
الله عز وجل: "المال مالي والجنة جنتي فاشتروا جنتي بمالي"
“The Money
(in your possessions) is my Money and the Paradise also is my Paradise. So, buy
my Paradise(property) with ‘that’ my Money”.
And for the
way we are so much attached our lives to our wealth, by being stingy with it,
without having any intention of spending it. Ka‘ab Ibn ‘Iyaad(rta), in the
hadith of at-Tirmidhiy, reported that the Messenger of Allah(pbuh), in
interpreting Suratu’l-Fajr (Q89:20), said:
"إنَّ لكلِّ
أُمَّةٍ فتنةً، وفتنةَ أُمَّتي المالُ"
“Indeed, every nation
has its own problem, but the
problem of my own nation is MONEY / WEALTH.” – (Riyadu’s-Saliheen:
480).
In contrast,
it is pertinent to also know that at times, richness (Rizq) is not sought by
hard work; it’s by Allah’s Mercy, and mostly, it is sought through spending the
little fortunes we were blessed with in the way Allah so pleases. Spending
never diminishes wealth at all; rather, it miraculously increases money! In Suratu-Saba’i (Q34:39), Allah says::
"قُلْ
إِنَّ رَبِّى يَبْسُطُ ٱلرِّزْقَ لِمَن يَشَآءُ مِنْ عِبَادِهِۦ وَيَقْدِرُ لَهُۥ
وَمَآ أَنفَقْتُم مِّن شَىْءٍۢ فَهُوَ يُخْلِفُهُۥ وَهُوَ خَيْرُ
ٱلرَّٰزِقِينَ".
Say: “Indeed, it is my
Lord Who gives abundant provisions to whoever He wills of His servants and
restricts it for some. And whatever money you sagaciously spend, He will
compensate it for you (He will multiply it for you). For He is the Best
Provider of provisions”.
No wonder, in a popular
but unconfirmed saying, it was recorded that: ‘Allah descends Rizq (blessings)
in three (3) places in our bodies, namely: The palm, elbow, and shoulder.
When you sagely spend out the one in your palm, the one in your elbow will come
down to the palm, the one in your shoulder will come down to the elbow, and
Allah will descend times ten (10x) of what was in the shoulder before to the
shoulder. When you spend out that which is in your palm again, what is in the
elbow will descend to the palm, and what was in the shoulder will descend to
the elbow, and 10x of what was in the shoulder before will descend there,
continually…
Summary of Major Findings
The main objective of this
study is to assess the general concepts of money and its spending methodologies
to gain more fortunes in the light of Shari‘ah. This study became imperative as
a result of the way some well-to-do Muslims are drastically retrogressing these
days, due to their lack of proper knowledge of how money works.
The study is meant to curb
the menace of this abject poverty, which is explicitly endemic among the Muslim
Ummah. The work aims to investigate the reasons why, despite all the Divine
bounties at our disposal, some Muslims still go broke to the devastating level
of becoming corporate beggars these days?! The study, however, intends to fill
these gaps by assessing every fact behind spending for gaining more fortunes
from Allah, which will be helpful for our individual upliftment, regional
improvement, and national development.
At the same time, the full
implementation of this study by our social elites and its enforcement by the
government will also go a long way in tackling all the financial constraints
and instabilities that may be explicitly endemic in our region as northerners
and in our land as a nation.
Islam is full of many
untapped opportunities, and until all the variables suggested in this paper are
fully implemented and practiced, we will be financially more balanced and
improved than every other region of this nation. On the whole, the outcome of this
finding leads us to believe that spending money to assist humanity is an
articulated method of improving our social development and gaining more
fortunes: "كَىْ لَا يَكُونَ دُولَةًۢ بَيْنَ ٱلْأَغْنِيَآءِ
مِنكُمْ" - “…So that wealth may not
be a thing taken by turns among the rich of you” (Q59:7).
Conclusion
By and large, this study
has made the perceptions of Islam on the concept of money clearer. It also
clarified that Islam supersedes all other religions in terms of its approach
towards money, spending, and its solidarity with the underprivileged, in its support
for women, widows, orphans, and its aid to communities in distress. Most
especially, through its establishment of zakat, sadaqah, waqf, and infaq
institutions. Islam pioneered, supported, and upheld social justice on a firm
basis, as submitted earlier in this paper. Wealth given by Allah is a trust
placed upon the blessed/wealthy person to show mercy, sympathy, brotherly love,
affection, and compassion to all of humanity. Islam sets up perfect ways of
gaining more fortunes, perhaps through a series of generous/philanthropic
activities. But today, one of the major reasons why some individuals are
witnessing serious financial problems or setbacks is due to their lack of
understanding of the concept, purpose, and power of money, their refusal to
spend their money in ways that please Allah, and the cessation of endowments,
humanitarian assistance, and philanthropic activities by those who have
acquired fortunes. Now, it is the responsibility of the wealthy Muslims to
strive hard and re-establish the dying institutions of zakat, sadaqah, waqf,
and infaq for the circulation of wealth, the betterment of lives, and the
increment of fortunes/affluence.
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