What is Wealth in Islam and how does Islam deal with it?
The Muslim ummah is very important in Islam, as we should treat every Muslim as our brothers and sisters so everyone is responsible for one and other, helping the neighbors and being kind to each other.
“O mankind! We made you from a single (pair) of a male and female, and made you into nations and tribes, that ye may know each other (not that you may despise each other) Allah has full knowledge and is well acquainted (with all things)” (49:13)
Life is a test for the rich and he poor. The rich will usually have nice lives as Allah has blessed them, but they must not let greed take over their soul.
“Riches are sweet and a source of blessing to those who acquire them in a way: but those who seek them out of greed are like people who eat but are never full…” (The Prophet S.A.W hadith).
They must use their wealth in the right way and Allah is testing them. The wealthy should give charity and zakah and earn Halal money.
The poor are tested in Islam by their patience. Muslims believe if you are patient then Allah will reward you. They also know that nothing in this life belongs to them; it all belongs to Allah so they should focus on their faith rather than their wealth.
“and know that your possessions and your children are but a trail and that surely Allah is a mighty reward” (8:28)
Allah has given us wealth and Muslims know that it doesn’t belong to them.
The wealth is not ours; therefore, we should share Allah’s possessions with the poor.
Muslims do this by giving charity, such as zakah, sadaqah, sadaqah jariyah etc.
What is Zakah?
Zakah is one of the pillars of Islam, in which we must give at least 2.5% of our income to the poor.
It is compulsory to all Muslims who have enough money to pay zakah, they must have had the money for year, they cant be in debt, they cant be mental and they must be past the age of maturity.
“And (in the daytime and at night) establish the prayer and pay Zakah and [for the cause of your religion and state] lend to Allah a befitting loan, and remember whatever good you send forth for yourselves you shall find it with Allah better than before and greater in reward.” (73:20)
The Qur'an demands that individuals take material responsibility for poverty and suffering in the Muslim community (ummah). That is why the Qur’anic revelation above demands that each person give up a certain amount of material wealth to support the poor.
We must give zakah to the poor, the indigent, the sick the blind, orphans, the suffering etc.
The following table shows the rates of zakah:
Zakah al Fitr?
Zakat al fitr is given at the end of Ramadan, before the eid prayer. It is necessary for who ever is capable to give it. It is to purify your soul, make up for the errors committed during Ramadan and it is also to help the poor on the holy eid day. It is estimated that approximately 3 pounds should be given from each member of your family.
Aqiqah?
Seven days after the birth of the child comes the aqiqah . it is a celebration where friends and relatives to come and eat and the baby is named. During this celebration the babies’ hair is shaved and by tradition, the same weight of hair in gold or silver is given to the poor, other Muslims offer a sacrifice. The meat is often shared with the family, the visitors and the poor.
Sadaqah?
Not every one is rich so how can the poor give charity? Charity comes in many forms weather it is giving money to the poor, building a mosque or even smiling at someone. To clean the streets of hurtful things is also a charity.
Every one in the world is capable of doing charity as Abu Dharr (may Allah be pleased with him) reported that the Prophet (S.A.W) said “there is no person who does not have the obligation of (doing) a charity every day that the sun rises.”
He also said “smiling in the face of your brother is a charity… and pouring out from your bucket into your brother’s bucket is a charity.”
Sadaqah jariyah
Sadaqah is on going charity. The reward for this type of charity benefits the donor even after they have passed away for as long as people receive the benefit from the donor’s charity.
Forms of charity can be many things such as providing a well for clean water or even building a hospital.
The prophet (S.A.W) said “when a man dies his action comes to an end except for three: an ongoing charity, knowledge that benefits others and pious offspring who pray for him”
Riba/Interest
Riba is the Arabic term used for usury.
In Islamic terminology interest means effortless profit or that profit which comes free from compensation or that extra earning that is free of exchange.
Riba is haram in Islam. The reason for this is because it is concerned a form of injustice, and exploitation.
The economy today is debt based, and only does risk transfer, where as the Islamic economy is asset-based and doe risk sharing, it is all about fairness to all parties.
The prophet (S.A.W) said “ a dirham of usury a man devours with knowledge is greater than thirty six fornications” and it is also reported that he said “cursed the devourer of usury, its payer, its scribe and its two witnesses, and he said that they are equal (in sins).”
Conclusion
In conclusion wealth and poverty are very important matters in Islam.
As Muslims we should know that life is given to us by Allah, therefore every thing in or possession belongs to Him so we must share our wealth.
It is our duty as Muslims to help the ummah, and giving zakah and sadaqah will pure us from our greed and help our ummah.
Also everyday friendly gestures such as smiling, helping can be a form of charity so you don’t ever need wealth to give charity.
