The love of wealth is a human instinct. This innate drive motivates human beings to grow and invest their resources, or conversely, to withhold them from themselves and others. People have long debated the nature of money and the impact it creates, captured famously in the saying: “O wealth of the world, you and the people are wherever you are.”
Given the profound significance of wealth in religion and life, scholars have written extensively on this issue. We have selected an aspect that is crucial for business owners and investors today: Investment. This concept was articulated by the renowned scholar Ibn Abi Al-Dunya in his seminal book: “Islah al-Mal” (Reforming Wealth).
The Message of “Reforming Wealth” in Islamic Law
“Reforming Wealth” is the book under review here. The concept of “Reform” represents the Muslim’s mission that accompanies them from the moment of religious accountability (Taklif). It moves with them in every direction their hand, voice, or pen can reach—executed with wisdom, mercy, and capacity, for God does not burden a soul beyond what it can bear.
It is remarkable that a figure like Ibn Abi Al-Dunya—who specialized in collecting Hadith and excelled in preaching and Asceticism (Zuhd)—dedicated part of his time to compiling texts related to money. This effort honors Islam’s care for the economic aspect of human life and demonstrates how to worship God Almighty through the seeking and spending of wealth. Indeed, money serves as one of the truest tests of human servitude to God.
The Socio-Economic Context of the Book
This book was authored during a critical historical period. After God opened the world to the Muslims, wealth expanded, and prosperity increased. This abundance was followed by an expansion of desires and a greater immersion in worldly life, leading to a distance from achieving true servitude to God.
In response, a counter-trend emerged against luxury and its associated social ills: the trend of Asceticism (Zuhd).
- Extreme Asceticism: Some proponents went to extremes, taking asceticism outside the scope of Sharia.
- Balanced Asceticism: Others adhered to an asceticism bound by the Quran and Sunnah, guided by the verse: “But seek, through that which Allah has given you, the home of the Hereafter; and [yet], do not forget your share of the world.” [Al-Qasas: 77].
“Reforming Wealth” represents the middle path, respecting the rights of God, the needs of the self, and the duty towards society. It stands as a foundational block in the edifice of Islamic Economics.
Methodology and Key Topics of “Islah al-Mal”
The book contains over five hundred texts narrated with connected chains of transmission (Isnad), including poetry, wisdom, and the heritage of previous nations that aligns with Islamic Sharia.
Ibn Abi Al-Dunya divided his book into seventeen chapters, covering essential topics such as:
- The call to Halal Earning (lawful income).
- The virtue of wealth, its reform, and good management.
- The importance of a Muslim possessing a profession or craft.
- The best and worst types of trade.
- Ethics of bargaining during purchase.
- Discussions on real estate, estates, and manual labor.
- Frugality and economy in money, food, and clothing.
- Inheritance, the abundance of wealth, and the reality of poverty.
Individual and Social Responsibility in Wealth Management
The book serves as a guide for individuals on how to reform their finances. However, reforming wealth in the modern world is a complex issue involving the individual, society, the state, and scholars.
Despite the macro-economic factors, the individual still plays a pivotal role. This role may grow or shrink depending on opportunities created through skill, strength, and partnerships.
Islam’s View on Money: The Philosophy of Stewardship
To refine human instincts, Islam establishes that wealth belongs to God, and the human being is a steward (trustee) over it.
- A Test, Not a Verdict: A person’s share of the world does not indicate God’s pleasure if He gives, nor His anger if He withholds; it is a divine test in every case.
- Valuation by Piety: In a Muslim society, status is based on Piety (Taqwa) and benefit to others, not on net worth.
- A Tool for Truth: Money in Islam is a tool to protect the Truth (Haqq) and prepare the strength necessary to deter aggression.
The Virtue of Possessing Lawful Wealth
God Almighty commanded Muslims to engage in the development of the earth (Imarat al-Ard). This development generates wealth and power, which must be used to please God without oppression.
- Peace of Mind: Providing for basic needs frees the soul from survival anxiety, allowing focus on worship.
- Dignity: It saves the soul from the humiliation of begging.
- Social Charity (Ihsan): Wealth enables the Muslim to support relatives, neighbors, and the community.
Wealth in the Lives of the Companions (Sahaba)
Ibn Abi Al-Dunya cites evidence of the wealth held by the Prophet’s Companions, proving that richness is not blameworthy. Blame falls only on unlawful earning, extravagance, or withholding rights.
The Companions—may God be pleased with them—held money in their hands, not in their hearts. Despite their spiritual asceticism, they left vast fortunes for their heirs.
Example: One of the sons of Omar ibn al-Khattab (RA) sold his share of an estate for ten thousand (or one hundred thousand) dirhams, illustrating that piety and wealth can coexist.
Combating Poverty and Unemployment in Islam
1. The Condemnation of Poverty
To encourage financial independence, Islam condemns poverty and highlights its psychological and social evils. The Prophet (ﷺ) sought refuge from “poverty and disbelief” in a single sentence, highlighting the danger of poverty and its link to weakness.
2. Encouraging Work and Savings
Islam fights poverty by mandating work:
- Sanctity of Work: The Prophet (ﷺ) and previous Prophets performed manual labor, elevating the status of trade and craftsmanship.
- Savings (Idikhar): The Prophet (ﷺ) practiced saving, and the righteous predecessors (Salaf) viewed it as a means of stability and freedom for worship.
3. Addressing Unemployment
Islam’s strategy to eradicate unemployment includes:
- Withholding charity from those physically capable of working.
- Warning sternly against begging.
- Pushing individuals to move from the “receiving hand” to the “upper hand” (the spending hand).
Means of Reforming and Growing Wealth
Agriculture
Islam encourages agriculture as a form of continuous charity (Sadaqah Jariyah). A farmer is rewarded for every living creature that eats from their crop. Texts warning against agriculture are specific to contexts where it distracts from obligatory duties (like Jihad) or becomes an idol of worship.
Trade and Business
The Sunnah elevates the status of trade.
- Honest Trade: A merchant who possesses truthfulness and honesty earns God’s pleasure and high spiritual rank.
- Monopoly (Ihtikar): Islam curses the monopolist who hoards necessary commodities to inflate prices. The Prophet (ﷺ) threatened such behavior with severe punishment, as it destroys social cohesion.
Rationalization: The Path to Financial Sustainability
Reforming wealth requires Rationalization (Tarshid) and avoiding waste.
- Prohibition of Waste: God condemns squanderers (Mubadhirin) and warns them of poverty.
- Economy in Living: Moderation is a trait of the Prophets.
- Food: Overeating hinders worship, hardens the heart, and destroys health.
- Clothing: The Companions did not buy new clothes until the old ones were fully worn, often reusing them for household tasks. This was not stinginess, but wisdom—spending according to one’s means.
Conclusion: Towards a Contemporary Reading
One of the bitter fruits of hoarding money (Kanz) is the disruption of capital circulation, which exacerbates unemployment. The hoarder is promised a painful punishment.
Today, the book “Islah al-Mal” requires a contemporary reading that brings together Sharia scholars and economists. Together, they can present a methodology for “Reforming Wealth” that is rooted in Islamic heritage but applicable to modern financial challenges.
By Mohamed Attia
