In a Hadith found in Sunan Ibn Majah, number 2146, the Holy Prophet Muhammad, peace and blessings be upon him, warned that merchants will be raised as immoral people on Judgment Day except those who fear Allah, the Exalted, act righteously and speak the truth.
This Hadith applies to all those who take part in business transactions. It is extremely important to fear Allah, the Exalted, by fulfilling His commands, refraining from His prohibitions and facing destiny with patience according to the traditions of the Holy Prophet Muhammad, peace and blessings be upon him. This includes treating others kindly according to the teachings of Islam. In fact, one should treat others how they desire to be treated by people.
In respect to business dealings, a muslim should be honest in their speech by disclosing all the details of the transaction to all who are involved. A Hadith found in Sahih Bukhari, number 2079, warns that when muslims hide things in financial transactions, such as defects in their goods, it will lead to a loss in blessings.
Acting righteously includes avoiding deceiving others by making them pay excessively for goods. A muslim should simply treat others how they desire to be treated meaning, with honesty and full disclosure. The same way a muslim would not like to be mistreated in financial matters, they should not mistreat others.
Acting righteously includes avoiding illegal practices discussed in Islam and the law of the land. If one is not happy with the business laws of their country, they should not do business there.
In addition, acting righteously also includes using one’s business success in ways pleasing to Allah, the Exalted. This will ensure their business and wealth becomes a source of comfort and peace for them in both worlds. Chapter 16 An Nahl, verse 97:
“Whoever does righteousness, whether male or female, while he is a believer – We will surely cause him to live a good life, and We will surely give them their reward [in the Hereafter] according to the best of what they used to do.”
But those who misuse their business success will find that it becomes a source of their stress and misery, as they have forgotten Allah, the Exalted, the One who granted them the success. Chapter 20 Taha, verse 124:
“And whoever turns away from My remembrance – indeed, he will have a depressed [i.e., difficult] life, and We will gather [i.e., raise] him on the Day of Resurrection blind.”
Those conducting business should always avoid lying as it leads to immorality and immortality leads to Hell. In fact, a person will keep telling and acting on lies until they are recorded as a great liar by Allah, the Exalted. This has been warned in a Hadith found in Jami At Tirmidhi, number 1971.
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