In Islam, wealth and ownership are crucial concepts that hold significant roles in both individual and societal life. Within the framework of Maqashid Shariah (the objectives of Islamic law), Islam places the protection of wealth as one of its core objectives, demonstrating its importance in human life. Wealth is not only viewed as a material possession but also as a trust from Allah ﷻ that must be managed wisely according to religious guidelines. Understanding wealth and ownership is not just about how one acquires and manages it, but also about social aspects such as responsibility towards others. This article will explore how Islam interprets wealth and ownership, along with the moral responsibilities that accompany these concepts.
Definition of Wealth in Islam
In Arabic, the term for wealth is māl, which refers to anything owned by a person or utilized by humans to meet their needs. In general, wealth encompasses all forms of assets, whether tangible, like money, houses, and vehicles, or intangible, such as good health, a righteous family, and well-mannered children.
The Concept of Ownership in Islam
Islam views that the absolute ownership of everything belongs to Allah ﷻ. Humans are merely stewards (khalifah), entrusted with the responsibility to manage what is on this Earth. The question arises: who is the true owner of all wealth and possessions on this Earth? The answer is that Allah is the owner of the Earth and everything in it, including wealth and material assets. As Allah says in the Qur’an:
“To Him belongs whatever is in the heavens and whatever is on the earth and whatever is between them and whatever is under the soil.”
(QS Taha: 6)
Wealth is also described as both a blessing and a test for humans:
“And know that your wealth and your children are but a trial and that with Allah is a great reward.”
(QS Al-Anfal: 28)
This verse shows that wealth, like other possessions humans hold, is a test to see how one utilizes it—whether for good or evil.
Thus, humans are entrusted to manage the wealth given by Allah ﷻ, not as absolute owners. This means that the use of wealth must adhere to the rules set by Allah ﷻ, including how it is earned and spent.
Also read: Worship and Financial Freedom in Islam
Principles of Wealth Management in Islam
Islam provides clear guidance on managing wealth. Below are some key principles that every Muslim should consider:
1. Earning Wealth Through Lawful Means
Islam places great emphasis on earning wealth through lawful means and avoiding the unlawful. Allah ﷻ commands humans not to acquire wealth through wrongful ways, such as interest (riba), fraud, or deceit.
“And do not consume one another’s wealth unjustly…”
(QS Al-Baqarah: 188)
In this verse, Muslims are reminded not to consume the wealth of others through unjust means, such as false oaths, theft, bribery, or interest. The earnings obtained from unlawful sources will not bring blessings, and it is a Muslim’s moral responsibility to ensure that all wealth is earned through legitimate channels.
2. Generosity and Charity
Wealth is not solely for personal gain but must also be used for social welfare. The concept of zakat and charity in Islam is a divine command that obliges Muslims with surplus wealth to share with those in need. Zakat, one of the five pillars of Islam, is a concrete expression of social responsibility toward others.
“And in their wealth, there was a right for those who ask and for those who are deprived.”
(QS Adh-Dhariyat: 19)
Charity not only purifies one’s wealth but also fosters a sense of solidarity and compassion among people. Furthermore, giving in charity teaches the heart to avoid excessive attachment to wealth, encouraging a more balanced and simple life.
3. Maintaining Balance Between Worldly Life and the Hereafter
Islam teaches that balance between worldly pursuits and the hereafter must be maintained in the utilization of wealth. The wealth possessed by an individual should not lead them to forget the afterlife. Allah reminds in the Qur’an:
“But seek, with what Allah has given you, the home of the Hereafter; and [yet] do not forget your share of the world.”
(QS Al-Qasas: 77)
This verse emphasizes the importance of balancing the worldly and the spiritual. Wealth should be used to prepare for the afterlife, but one should not neglect enjoying what is permissible in this world, as long as it is done in moderation.
Wealth as a Test and Trust
In Islam, wealth is viewed as both a test and a trust from Allah ﷻ. Many people may be tempted by riches and fall into consumerism, materialism, or even the misuse of wealth for prohibited activities. Islam emphasizes that everyone will be held accountable for how they acquired and utilized their wealth.
As the Prophet Muhammad ﷺ said:
“The feet of a servant will not move on the Day of Judgment until he is asked about five things: about his life, how he spent it; his knowledge, how he acted upon it; his wealth, how he earned it and how he spent it; and about his body, how he used it.”
(HR Tirmidhi no. 2417)
This hadith underscores that on the Day of Judgment, we will be questioned regarding how we earned and spent our wealth. Acquiring wealth in this world is not just about living comfortably; it is also about the great responsibility that will be accounted for in the Hereafter.
Conclusion
Islam views wealth and ownership as a trust that must be managed properly in accordance with Shariah principles. Wealth is not the ultimate goal in life but rather a means to achieve well-being in both this world and the next. The management of wealth should be aligned with principles of justice, generosity, and maintaining balance between worldly and spiritual needs. Wealth is a blessing and a test from Allah ﷻ, which demands responsibility in its acquisition and use.
References:
- Al-Qur’an al-Karim.
- Al-Bukhari, M. I. (2002). Sahih al-Bukhari (Vol. 1–9). Darussalam Publishers.
- Muslim, I. H. (2007). Sahih Muslim (Vol. 1–7). Darussalam Publishers.
- Al-Tirmidzi, M. I. (2007). Sunan al-Tirmidzi (Vol. 1–6). Darussalam Publishers.
- Tafsirweb.com. (n.d.). Surat Al-Qashash ayat 77. TafsirWeb. Retrieved September 20, 2024, from https://tafsirweb.com/7127-surat-al-qashash-ayat-77.html
