Acquisition of wealth
By A.S. Pingar
WEALTH is one of the dearest things to man. It is a source of enjoyment, security and prestige. It is an insurance against illness, accident and catastrophe. The Quran has, however, imposed certain restrictions on the pursuit of wealth. It does not give a blanket approval to such pursuits because love of wealth is likely to keep man away from the remembrance of Allah.
The Quran depicts man’s greediness in Sura Imran in these words: “Men are tempted by the lure of women and offspring, hoarded treasures of gold and silver, splendid horses, cattle and plantation. (In modern times it is the palatial houses, luxurious cars, industrial empire etc.) These are comforts of this life but far better is the return to God. Are you content with this life in preference to the life to come?”
Elsewhere in Sura Al-Qasas, the Quran mentions that “the things you have been given are but the provision and the gaudy show of this present life. Better is God’s reward and more lasting. Have you no sense to reason with.” Similarly, the Quran says “wealth and children are the ornaments of this life. But deeds of lasting merit are better rewarded by your Lord and hold for you a greater hope of salvation.” “Do not fall a prey to the allurement of this life and follow the appetite of those who give rein to their desires.”
Thus approval for the acquisition of wealth is reluctantly granted because of the apprehension that it may keep away men from the remembrance of God. The Quran also puts a limitation on the acquisition of wealth as it condemns niggardliness and hoarding and emphasizes continuous spending of wealth on the welfare of the poor and the needy. Acquisition and spending constitute two sides of a coin and therefore acquisition without spending is forbidden. The Quran repeatedly emphasizes that “you cannot attain to righteousness unless you spend out of what you love.” “Give generously for the cause of God...” and “be charitable. God loves the charitable” (Sura Baqra).
The rightful persons entitled to charity are nearest kinsfolks, orphans, destitute and the needy. Spending brings a good reward as the Quran says “who will grant God a generous loan?” He will repay him many times over.” At other place, Quran mentions “Whatever good thing you spend it will be paid back to you in full and you will not be wronged.” Therefore, acquisition of wealth without spending is not permissible when the purpose of acquisition namely to help the poor and the needy is defeated or not realised.
Similarly, the Quran puts a ban on the squandering of one’s wealth as such persons who do thus are the devils’ brethren. They are repeatedly warned to refrain from luxurious living. Lastly, the acquisition of wealth is permissible provided it is by fair and lawful means. Wealth acquired by fraudulent means such as cheating, deception, exorbitant profits, lottery, gambling, manipulation of market mechanism etc. is forbidden. Such wealth is considered haram. The prophet (PBUH) attached so much importance to this aspect that he asserted: “whoever defrauds us does not belong to us” meaning thereby that a swindler a cheat, by playing fraud on a member of society severs his relationship with the Muslim community though he may still claim to be a part of it.
Therefore the conditions and limitations set by the Quran in the acquisition of wealth do not permit man to earn it through forbidden means and do what he likes with his wealth. Unfortunately in the modern economic system based on market economy and demand and supply phenomena, man is free to exploit the situation and gain maximum advantage or profit at the expense of the suffering of the vast majority of people. Modern economists tend to say that their craft is about money, not about ethics or justice.
The expansion of economy in this system leads to building up of “capital”. The modern enterprising man is supposed to accumulate and multiply wealth not for purposes of his own happiness or salvation alone but for capital formation. Man thus becomes a cog in the vast economic machine. One works for profits sake and the profit one makes is to be invested for further gains. Thus an economic empire is built in this way which brings immense power and influence.
Where does this immense power, wealth and influence lead to? It may lead to expansion of national economy, trade and commerce and full employment as it is witnessed in Europe and America. But simultaneously it also creates byproducts for the pleasure-loving wealthy people such as gambling casinos, racecourses and evil entertainment centres etc. Thus it promotes vice and man degenerates and becomes devoid of morals.
The modern economic system and the Islamic values are poles apart in respect of means, objects and purposes. Under such a system, profits and economic growth are to be pursued irrespective of its moral aspects. It stands for earthly paradise. Islam puts restrictions on the ways of acquiring wealth and its spending. It holds man accountable for every penny that he spends.
The emphasis in Islam is on simple living and remembrance of God, day and night. The Quran says “And this world’s life is nothing but a play and idle sport. And certainly the abode of the hereafter is better for those who keep their duty. Do you not then understand?” The Quran adds further that the life to come holds a richer prize for you than the present life.

