Q. What makes a business Islamic in your opinion?

This is a difficult topic sister. And anyone else who reads this I hope you read it till the end before concluding before you’ve finished reading. At the end of the day, what do you hope to achieve in this business?

1. Big bucks/money? or the purpose is to
2. Serve the community? And leave the affairs of your profit/loss to Allah SWT.

I’m not educated in the field of Business. But I had some exposure to life in Banking sector and learned Banking & Finance a bit. If you hope to emulate the businesses in the time of Rasulullah SAW and earn good halal profits then it’s a different era now.

What was money back then? The Quran says that Nabi Yusuf A.S was sold as a slave and bought for a few Dirhams (silver coins) only. Dinars (gold coins), dates & Barley were also some forms of “money”. If you have that amount of Gold coins, that’s the worth of it everywhere you go. It’s not like paper currency where the value changes each day and Indonesia, the biggest Muslim country in the World, seems like forever would be fated with such a low valuation of their Rupiah. Did Allah SWT created things this way?

So the entire world today has changed to a “Paper Money” system. And it’s going to the direction of Cashless society. If you get see the Court Cases of those in Bankruptcy, you have to ask “did this person really saw 1 million cash which he owed? Or he owes what the Banks tell him he owes?”

If you don’t know yet about these topics, you can read up or “google” these: Money Creation and Money Multiplier. I’m not sure about other people’s opinion, but I summarise these as Riba’. Of all sins in the world:

O you who believe! Be afraid of Allâh and give up what remains (due to you) from Ribâ (usury) (from now onward), if you are (really) believers[]. (278) And if you do not do it, then take a notice of WAR from Allâh and His Messenger[] but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums). (279) Surah Al Baqarah.

Again, of all sins, Allah SWT declares war against Riba’. But it has become almost impossible to escape this worldwide riba’ that’s the basis of our money today. Where else can you live on Earth and spend with Gold & Silver Coins?
So, back to your question, what makes the Business Islamic is your Niat. Are you out to prove a point? Do you get dissatisfied with the “Networth” that companies value you if you are employed by them? Do you want a multi-storey landed property with 3 BMWs in your personal carpark?

Or do you just hope to serve the community. Example, if in a certain community, if there is no halal dining place and you open one, you’d take off the load of many of your brothers and sisters with the convenience you gave them. Insya Allah, Allah SWT will be pleased with you.

Many things in the world can be made into a business, and a halal business. Being a doctor for the community in your area, setting up tuition centre, being the local electrician, printing services etc. The basics of halal and haram that apply to individuals definitely apply to the entire business as a whole. I remembered my Ustaz said something like this (translated to English): If there’s no Muslim Lawyer in the whole community, everyone’s guilty. If there’s no Muslim Doctor in the community, everyone’s guilty etc. He was explaining to us something to do with Fardhu Kifayah. Perhaps that’s a clue to finding the type of business you can attempt.

It’s a challenge, a big challenge. And one major block in your mind is definitely rental in tiny Singapore. But if your Niat is to bring convenience to the Muslims and their Non-Muslim neighbours with your expertise, Insya Allah you will succeed. Allah SWT knows best, I’m just sharing. Many people might disagree with me.