UNGS 2080 PART 1- Final

By syedsumy129 | Updated: March 25, 2025, 9:23 a.m.

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IMPORTANCE OF EARNING AND SPENDING IN ISLAM
UNGS 2080: Ethics and Fiqh of Contemporary issues
INTRODUCTION
Money is considered as the main resource for an economy and the successful establishment of a nation is also based on transaction. 
One of the crucial matters that people require in their daily life is money.
In Islam, the principle of Muamalat, is a set of rules that governs the fields of economics and social 
interactions in Islam.
The son of Adam will not be dismissed from his Lord on the Day of Resurrection until he is questioned on five issues: his life and how he lived it, his youth and how he used it, his wealth and how he earned and spent it, his youth and how he used it, and how he acted on his knowledge. 
(Al-Tirmidhi)
Hadith on wealth:
The hadith shows that we will be held responsible for each and every form of wealth that we have earned and spent. 
There are many different means of earning and spending money in the modern world, but not all of them are legal or can be considered as moral.
People have the tendency to become greedy in earning money and deviate from moral and legal ways of earning to immoral and illegal ways, such as selling for prices higher than its original 
cost. 
IMPORTANCE OF EARNING IN ISLAM
Living in this world without having any money will make one hopeless and undeveloped as money is important to sustain and live a healthy life. 
Money is the significant resource that helps people to fulfil their basic needs, assist those in need and stabilize economic finance. 
Earning money is a common goal that motivates everyone, as it helps build and maintain a good future for one's 
self, their family and society. 
It is extremely important for Muslims to earn and spend their wealth only through means that have been allowed by Allah. 
Earning through legal and Halal sources is a form of worship and it also helps our acts of ibadah to be accepted by Allah.
The Prophet has said, "Never has anyone eaten better food than what he has procured through his manual work." (Al-Bukhari)
The person who tries to earn a legal means for his family is also in the way of Allah, the person who tries to keep himself away from illegal earnings is also in the way of Allah. on the other hand, the person who is always in the pursuit of seeking much more wealth is in the way of Satan.  
(Al-Baihaqi)
Hadith on lawful earnings:
means of earning
Halal vs Haraam
Bribery, Fraud, Stealing, Robbery
Gambling
Income through sources of vulgarity, alcohol or selling of items considered Haraam in Islam
Haraam 
Usurping other's properties
Usury/Riba
Any source of income that has been earned through legal, acceptable and moral practices. 
Income earned through truthful practices and  sincere hard work 
Halal

UNGS 2080 PART 1- Final

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