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The Proof That Islam Is The Truth - Abdur-Raheem Green

Islam and Christianity

Islam and Atheism-86 Videos

MONEY MATTERS FROM QUR'AN AND HADITH

13 july - True wealth - happiness Narrated Jabir ibn Abdullah(r.a.): Allah's Messenger(sallallahu alaiyhi wasallam) cursed the accepter of interest and its payer, and one who records it, and the two witnesses; and he said: They are all equal (Muslim).

On Interest

"Allah will deprive usury of all blessing, but will give increase for deeds of charity" (Quran 2: 276).

Narrated Jabir ibn Abdullah(r.a.): Allah's Messenger(sallallahu alaiyhi wasallam) cursed the accepter of interest and its payer, and one who records it, and the two witnesses; and he said: They are all equal (Muslim).

Abu Huraira(r.a.) related that the Prophet(sallallahu alaiyhi wasallam) said: On the night of the Miraj I came upon a group of people whose bellies were like houses. They were full of snakes which could be seen from outside their bellies. I asked Gabriel who they were, and he told me that they were the people who had practiced Riba (Interest). (Ahmad, Ibn Maja)

Abdullah ibn Hanjalah(r.a.) related that the Prophet(sallallahu alaiyhi wasallam) said: A dirham of Riba (interest) knowingly taken by a man is a sin worse than committing Zina (fornication) 36 times (Ahmad, Daraqutni).

What does Islam say about saving money

Question: What does Islam say about saving money? Should we save money for the future? I read that some of the prophet's Companions died with no wealth, not even a cloth to shroud their bodies for burial. I also read that Abu Bakr gave all his wealth to the Prophet for distribution in charity. So, where does the concept of saving come in?

Answered by the Fatwa Department Research Committee - chaired by Sheikh `Abd al-Wahhâb al-Turayrî
For proof that it is permissible to save for the future, we need look no farther than the Zakâh on monetary wealth. We do not pay Zakâh on our income. We only pay Zakâh upon our savings and only if those savings have reached a certain level and have remained at or above that level for a full year.

`Âishah said: the Prophet (peace be upon him) said: “No Zakâh will be levied on money until a year passes from the time of its possession.”[Sunan Ibn Mâjah (1792) with an authentic chain of transmission as stated by al-Zayla`î in Nasb al-Râyah (2/328), al-Nawawî in al-Khulâsah, and al-Albâni in Irwâ’ al-Ghalîl (3/254)]