IN the name of Allah, Most Gracious, Most Merciful.
The prevailing survivalist and cutthroat tendencies in our society, nay Nigeria, today would not have been imagined by many of us in years past. This unfortunate socio-economic reality foisted on the citizens has largely been attributed to leadership problems. But the followership, too, may not be exonerated, particularly as we continue to purge ourselves and search for the right path.
Islam has been the light with which it has become very clear that many of the citizens’ actions and inaction within the commerce and economy space, regardless of whatever religion the citizens choose to profess, have continued to haunt all of us.
A number of economic, commerce and trade activities are damaging to the socio-economic welfare of the citizens. Everyone seems to have become opportunist, ripping fellow men off all in the name of making money. This evil is more pronounced in Nigeria now as the nation is presently going through a tough fiscal and socio-economic phase. Religiosity has not really had an impact on many of us as to how we must not put our hands into whatever activities that make life and livelihood difficult for fellow citizens.
In Islam, profiteering is considered a form of exploitation and it is prohibited. The Noble Qur’an and the Hadith emphasise the importance of fair trade and commerce, and prohibit practices that involve exploiting or deceiving other people for personal gains.
Trade and commerce have always been an integral part of Islam. Prophet Muhammad (SAW) was himself engaged in the trading profession before he became the Messenger of Allah (SWT). He was a successful businessman known for his integrity. He bore the honorific title ‘the trustworthy’. The Noble Qur’an includes rules not only for manners and hygiene, marriage and divorce, but also lays down detailed rules for commerce and politics, interest and debts, contracts and wills, and industry and finance. Islam permits and in fact encourages business. Islam lays out the basic principles of our economic behaviours as consumers, producers and owners of wealth.
The Islamic principle in business is based on individual enterprise and corresponding individual’s reward. It is basically based on benefiting the humanity while maintaining Allah’s injunctions.
In business relationships, Islam forbids any form of discrimination between individuals based on their religion, sex or status. There is no basic conflict between good business practice and profit making in Islam. Islam looks at profit as secondary means of measuring efficiency. But profit making must be legitimate devoid of profiteering. Trade, business and commerce must be ethically guided if the society must always find itself in socio-economic tranquility, freedom and equality.
As Muslims, we must realise that we are trustees for Allah’s endowment and that we truly do not own anything in this world. That kind of belief with the conviction that Allah (SWT) sees all that we do makes us work constantly with piety and keeps our deeds and intentions at their best.
Surah Al-Jathiyah, Q. 45:13 sheds light on this insight, “And (Allah) has subjected to you all that is in the heaven and all that is in the earth; it is all as a favour and kindness from Him: Verily, in it are signs for a People who think deeply.”
Justice and honesty incorporate the concepts of truthfulness and reliability and covers all aspects of relationships in human life, thoughts, words and actions. It is an attitude with integrity. We must have fair dealings with one another as business partners, customers and clients.
The Qur’an aptly puts in various Surahs: “And O my people! Give full measure and weight in justice and reduce not the things that are due to the people, and do not commit mischief in the land, causing corruption.” (Qur’an 11: 85). In Surah An-Nisa, Q. 4: 29, “O you who believe! Eat not up our property among yourself unjustly except it be a trade amongst you, by mutual consent. And do not kill yourselves (nor kill one another). Surely, Allah is Most Merciful to you.”
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Ethics of mutual respect and consideration for others are inherent as well when we transact commerce with one another. Nigerians in their different commercial enterprises such as oil and gas, agro-allied business, consumer products, industrial and logistics, merchandise of goods and services have thrown caution to the wind as prices and charges are pegged arbitrarily with no recourse to equity and fairness.
The poor masses groan just as the authorities appear helpless, particularly in the aspect of price control. It is quite unfortunate that Muslims are also neck-deep in this menace.
Islam does not frown on self-interest, but self-interest only has a place in the society inasmuch as it takes into account the interest of the others. An individual or organisation must not, under the pretext of self-benefit measures, take a decision or start a business that may potentially cause harm to the society or the environment.
A number of Hadiths of the Prophet (SAW) should guide the Muslims as we engage ourselves and others in commerce and business. The Prophet (SAW) said, “The best of people are those who are most beneficial to others.” The Prophet (SAW) is also quoted as saying, “May Allah show mercy to a man who is lenient when he sells, lenient when he buys, and lenient when he demands his rights.” But it becomes scary when the Prophet (SAW) said, “A trader will be resurrected on the Day of Judgement as sinful unless he is honest and trustworthy.” The three Hadiths quoted above are all graded as Sahih Bukhari. It must be observed that the Hadiths emphasise the importance of honesty, fairness, and kindness in trade and commercial transactions and highlight the reward for those who prioritise the interest of others.
Islam frowns at an kind of transaction involving uncertainty, as this may lead to quarrel or litigation. In the same manner, Islam condemns hoarding of goods to make higher profit at the expense of others. Islam, however, allows for normal trade–buying and selling of goods and merchandise again and again at a reasonable profit.
