Author: Dr. Muhammad Zia-ur-Rahman Azmi (رحمہ الله)
I especially advise traders to fear Allah in their dealings with those who engage in transactions with them, particularly those who need to buy on credit. They should deal with them gently and fairly, without overpricing the goods excessively or being harsh when demanding payment.
The Prophet Muhammad (ﷺ) encouraged leniency in buying, selling, and collecting debts, saying:
"The best among people is the one who is best in repaying debts."
(Sunan Abi Dawood, Hadith No. 3346)
He also said:
"Both the buyer and the seller have the option (to cancel the deal) as long as they have not separated. If they speak the truth and disclose the defects, their transaction will be blessed, but if they lie and conceal (the defects), the blessing of their transaction will be removed."
(Sahih al-Bukhari, Hadith No. 2079; Sahih Muslim, Hadith No. 1532/47)
People often rush to utilize financial conveniences on a large scale without considering the consequences, while Islam encourages moderation in all matters.
Allah commands moderation in spending, stating:
"And do not keep your hand tied to your neck (like a miser), nor extend it completely (in extravagance), lest you sit in blame and regret."
(Surah Al-Isra: 29)
Allah praises His righteous servants, saying:
"And those who, when they spend, do not do so excessively nor wastefully, but are moderate between the two."
(Surah Al-Furqan: 67)
May Allah grant us all the ability to act upon these teachings.
[Ibn Baz: Majmu' al-Fatawa wa al-Maqalat: 19/24]
Guidance for Traders and Consumers Involved in Installment Business
I advise my brother traders and consumers to fear Allah both inwardly and outwardly, to always be conscious of His supervision in all matters, and to conduct their buying and selling with truthfulness and honesty. They should avoid lying, deception, and engaging in transactions that contradict Islamic teachings.I especially advise traders to fear Allah in their dealings with those who engage in transactions with them, particularly those who need to buy on credit. They should deal with them gently and fairly, without overpricing the goods excessively or being harsh when demanding payment.
The Prophet Muhammad (ﷺ) encouraged leniency in buying, selling, and collecting debts, saying:
"The best among people is the one who is best in repaying debts."(Sunan Abi Dawood, Hadith No. 3346)
He also said:
"Both the buyer and the seller have the option (to cancel the deal) as long as they have not separated. If they speak the truth and disclose the defects, their transaction will be blessed, but if they lie and conceal (the defects), the blessing of their transaction will be removed."(Sahih al-Bukhari, Hadith No. 2079; Sahih Muslim, Hadith No. 1532/47)
Advice for Consumers
Similarly, I advise consumers to fear Allah regarding themselves and those under their care. They should not be excessive in purchasing unnecessary items, as this can lead to financial burdens and debt. Many people commit to expenses beyond their means, only to later find it difficult to fulfill them, thus creating financial hardship for themselves and their dependents.People often rush to utilize financial conveniences on a large scale without considering the consequences, while Islam encourages moderation in all matters.
Allah commands moderation in spending, stating:
"And do not keep your hand tied to your neck (like a miser), nor extend it completely (in extravagance), lest you sit in blame and regret."(Surah Al-Isra: 29)
Allah praises His righteous servants, saying:
"And those who, when they spend, do not do so excessively nor wastefully, but are moderate between the two."(Surah Al-Furqan: 67)
May Allah grant us all the ability to act upon these teachings.
[Ibn Baz: Majmu' al-Fatawa wa al-Maqalat: 19/24]