Ibn Majah

Benefits and Issues:

➊ Partnership in business is permissible.

➋ Among the business methods that were prevalent in the Age of Ignorance (Jahiliyyah), only those are prohibited from which Allah’s Messenger (sallallahu alayhi wa sallam) forbade; the remaining forms are permissible.

➌ The Messenger of Allah (sallallahu alayhi wa sallam) was characterized by excellent morals and conduct even before his Prophethood.

➍ According to some scholars, this narration is authentic.

Benefits and Issues:
It is due to these very noble characteristics of the Prophet (sallallahu alayhi wa sallam) that his life before prophethood has been presented as an example.
The Divine statement is: (فَقَدْ لَبِثْتُ فِيكُمْ عُمُرًا مِنْ قَبْلِهِ أَفَلَا تَعْقِلُونَ) "Indeed, I have spent a lifetime among you before this. Will you not then use reason?" (: Yunus: 16) And Allah, the Mighty and Majestic, has sworn by your blessed life, saying: (لَعَمْرُكَ إِنَّهُمْ لَفِي سَكْرَتِهِمْ يَعْمَهُونَ) "By your life! Indeed, they were, in their intoxication, wandering blindly." (: Al-Hijr: 72) This narration is weak in its chain, but its meaning is correct, as Shaykh al-Albani (rahimahullah) has also declared this narration to be authentic.

Takhrij:
«أخرجه أبوداود، الادب، باب في كراهية المراء حديث:4836، وابن ماجه، التجارات، حديث:2287، وأحمد:3 /425.* مجاهد سمعه من قائد السائب والقائد لم أجد له ترجمة، وفي سند الحديث اضطراب.»©Explanation:
➊ The aforementioned narration has been declared weak in its chain of transmission by our esteemed researcher, whereas Shaykh al-Albani rahimahullah has graded it as authentic. However, despite the narration being weak in its chain, its meaning is correct.
For further details, see: (al-Ta‘liq ‘ala al-Rawdah al-Nadiyyah: 2/140)
➋ This hadith shows that partnership in business was customary even before the Prophetic mission.
Islam also maintained this practice; however, it purified partnership from the defects that existed during the Age of Ignorance (Jahiliyyah).
➌ The Prophet’s encouragement and honoring of his business partner from before his Prophethood is evident; therefore, old and long-standing friends should not be forgotten.
When meeting, one should do so with a cheerful face and open-heartedness.
© Narrator of the Hadith:
«حضرت سائب بن ابی سائب مخزومی رضی اللہ عنہ » accepted Islam on the day of the Conquest of Makkah.
He fought against the apostates in the company of ‘Ikrimah ibn Abi Jahl and, after giving the glad tidings of victory, was sent as an envoy to Abu Bakr radi Allahu anhu.
‘Allamah Ibn ‘Abd al-Barr has said that he was among those whose hearts were to be reconciled (mu’allafatu al-qulub), and among those whose Islam was excellent and who lived long lives.
He remained alive until the caliphate of Amir Mu‘awiyah radi Allahu anhu.