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The economic system of Islam is not drawn in the light of arithmetical calculations
and capacities of production alone. Rather, it is drawn and conceived in the light of a
comprehensive system of morals and principles. The person who is working for
another person or for a firm or an institution is ordained by God to do his work with
efficiency and honesty. The Prophet said that if any of you undertakes to do any work,
God loves to see him do it well and with efficiency. Once the work is done, the
worker is entitled to a fair wage for his services. Failure by the employer to pay the
just wage, or attempts to cut it down and waver on it is a punishable act, according to
the Law of God
Business transactions enjoy a great deal of attention from Islam. Honest trade is
permitted and blessed by God. This may be carried out through individuals,
companies, agencies and the like. But all business deals should be concluded with
frankness and honesty. Cheating, hiding defects of merchandise from the dealers,
exploiting the needs of customers, monopoly of stocks to force one’ s own prices are
all sinful acts and punishable by the Islamic Law. If one is to make a decent living, it
has to be made through honest ways and hard endeavor. Otherwise, easy come, easy
go, and it is not only that, but anybody that is bred with unlawful provisions will be,
according to the Prophet, a burning fuel to the Hell Fire on the Day of Judgement. To
combat cheating and exploitation, Islam demands honesty in business, warns the
cheaters, encourages decent work and forbids usury or the talking of interest just in
return for lending money to the needy. This is to show man that he rightfully owns
only what he works for, and that exploitation of other people’ s pressing needs is
irreligious, inhuman and immoral. In the Qur’ an God says:
Those who devour usury will not stand except as stands one whom the Evil One by
his touch has driven to madness. That is because they say : ‘trade is like usury’ . But
God has permitted trade and forbidden usury. Those who, after receiving direction
from their Lord, desist, shall be pardoned for the past; their case is for God (to judge).
But those who repeat (the offence) are Companions of the Fire; they will abide therein
(for ever). God will deprive usury of all blessing, but will give increase for deeds of
charity; for He loves not creatures ungrateful and wicked (2:274-276)
And the Firmament has He raised high, and He has set up the Balance (of Justice) in
order that you may not transgress (due) balance. So establish weight with justice and
fall not short in the balance (55:7-9). This is to guide man resort to justice and
straightforwardness in all his dealings and transactions. The future of cheaters is grim
and their doom is awful. Here is how the Qur’ an looks into the matter:
Woe to those who deal in fraud, those who, when they have to receive by measure
from men, exact full measure, but when they have to give by measure or weight to
men give less than due. Do they not think that they will be called to account on a
Mighty Day, a Day when (all) mankind will stand before the Lord of the Worlds
(83:1-6)
Besides that, there are numerous Traditions of Prophet Muhammad excluding the
cheaters, exploiters, monopolizers and dishonest business people from the band of the
true Muslims. Any business deal that involves injustice or cheating or exploitation is
strictly inhibited and cancellable by the Law even after it is concluded. The main
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