Money Matters

• Wealth (mäl, in Arabic)

  A blessing from Allāh
• A Muslim needs to show gratitude and spend what they can in this world as a means of reward in the Hereafter
• The Prophet: '"[A servant] will not move on the Day of Judgement until they are asked: how they lived their life; how [well] they practised what they knew; how they earnt their wealth and how they spent it; and how they used their body."'
• On the Day of Judgement, a person will be questioned about both, how they gained their wealth and how they spent it
• The Prophet: '"The best wealth one can have is a tongue that remembers Allāh and a heart that is grateful."'
• Muslims


  • Maintain balance and perspective in all matters, including those relating to wealth
  • Value material wealth without it taking over one's life at the expense of the Hereafter
• What a Muslim needs to ensure regarding wealth


  • They gain wealth through lawful (halal) means
  • They fulfil the responsibilities and obligations that come with spending wealth
• Responsibilities and obligations in spending wealth


  • Fulfilling obligations like Zakāh, şadaqat al-fitr and uḍhiyyah (qurbānī)
  • Fulfilling responsibilities one has towards one's family
  • Prohibited from gambling and taking or paying interest
• Islām encourages all Muslims to be charitable; to spend on those who are in need; to spend in the path of Allah - such as religious education or the building and upkeep of masajid; and to spend on public welfare by building wells to provide water, for example
• The Prophet: '"Allāh says, 'spend [in charity] O son of Adam, and I shall expend [My bounties] on you."'
• Although charity is often associated with money, a Muslim can be charitable through their actions
• The Prophet: '"If any Muslim plants a tree or sows seeds, and then a bird, human or animal eats from [the produce], it shall be counted as charity (sadaqah) from them."'
• The Prophet: '"To reconcile between two people is a charity... and to remove a harmful item from [people's] pathway is charity."'
• Working to earn one's livelihood

  Better than being dependent on others
• One should, in general, be active and independent, and have an attitude of wanting to work rather than being lazy or relying on others
• Earning halal income is obligatory
• The Prophet: '"The best (most pure) food a person consumes is that which they have earned themself [lawfully]."'
• A Muslim is forbidden from obtaining wealth through haram (unlawful) means, such as money obtained by harming others, or through other forbidden actions
• Ensuring one earns a ḥālāl income is not only a moral duty, but also spiritually significant for a Muslim, because the acceptance of one's du'a's and deeds may depend on it
• Islām recognises different forms of poverty and encourages those with wealth to show compassion and open-handedness to those that are less fortunate
• Gambling


  Playing games of chance with money, which is forbidden (ḥarām) in Islām
• Gambling may seem like an easy way of increasing one's wealth, but the way the system is set-up means the chances of losing always far outweigh that of winning
• Gambling is now easier than ever to engage in due to gambling online. Therefore, greater caution should be exercised by educating oneself about the dangers associated with gambling and addiction
• Riba (interest or usury)


  Where a person gives a loan to someone with the condition that the borrower will return to the lender more than the amount they borrow
• Allāh: '"Allāh has made trade lawful and has forbidden interest..." (2:275)'
• An interest-based system is not healthy and damages society in numerous ways
• Zakāh


  A pillar of Islam and an obligation upon every sane, adult Muslim who has wealth equal to or above a certain amount (called nişāb)
• Zakāh is both a right owed to others (huquq al-'ibād) as well as an obligation one owes to Allāh (huquq Allāh)
• Zakāt al-fitr (sadaqat al-fitr)


  An obligatory amount of charity that is paid on Eid al-Fitr for those who have wealth (defined by nişāb)
• Udhiyyah


  The sacrifice of an animal that needs to be performed on the day of Eid al-Adha, which is wājib (mandatory) for those adults who have wealth (defined by nişāb)
• Zakah is pardoned on

  • Precious metals (e.g. platinum, titanium)
  • Diamonds, pearls and other precious stones
  • Property, land and buildings
  • Household items, fixtures and fittings
  • Motor vehicles
• Zakāt al-fitr


  An obligatory amount of charity that is paid on Eid al-Fitr for those who have wealth (defined by nişāb). The amount is paid for both adults and children.
• Udhiyyah


  The sacrifice of an animal that needs to be performed on the day of Eid al-Adha. The sacrifice is wājib (mandatory) for those adults who have wealth (defined by nişāb).
• Zakāt al-fitr is also called şadaqat al-fitr.
• Paying Zakāt al-fitr


  It is preferable to pay before one leaves for Eid şalāh, and it must be paid by the end of the day of Eid. One should also allow enough time for it to be distributed to the poor.
• Amount of Zakāt al-fitr


  The Prophet set the amount as one sã' of dates or barley for every Muslim adult and child. Şa was a small container holding approximately 3 litres in volume.
• It is common (and allowed) to calculate the cash equivalent of the item and its measurement for Zakāt al-fitr, rather than giving the actual item.
• When calculating Zakāt al-fitr, one should try to do so in a way that maximises the benefit for the poor, rather than basing it on a calculation that results in the lowest amount payable.
• Udhiyyah does not have a monetary alternative - an animal must be sacrificed.
• Performing Udhiyyah


  Preferably should be performed after Eid salāh on 10th Dhū 'l-Hijjah, although it can also be performed on the 11th or up to sunset of 12th Dhū 'l-Hijjah.