The Qur’an and Hadith on money matters
“Allah will deprive usury of all blessing, but will give increase for deeds of charity” (Quran 2: 276).
Narrated Jabir ibn Abdullah: Allah’s Messenger 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 related that the Prophet 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 related that the Prophet said: A dirham of Riba (interest) knowingly taken by a man is a sin worse than committing Zina (fornication) 36 times (Ahmad, Daraqutni).
Zakah-what you owe from your money
“And they are ordained naught else than to serve Allah, keeping religion pure for Him, as men by nature upright, and to establish worship and to pay the poor-due (Zakah). That is true religion.” (Quran 98:5)
Abbas related that a man asked the Prophet, Tell me what should I do to be admitted to Paradise and he (the Prophet) answered: Worship Allah associating nothing with Him, observe Salat, pay Zakah and strengthen the ties of kinship. (Bukhari, Muslim)
Inheritance and wills
“And unto each We have appointed heirs of that which parents and near kindred leave; and as for those with whom your right hands have made a covenant, give them their due. Lo! Allah is ever Witness over all things” (Quran 4:33)
Ibn Umar related that the Prophet said: It is the duty of a Muslim man who has something which is to be given as a bequest not to have it for two nights without having his will written regarding it. (Bukhari, Muslim)
Anas related that the Prophet said: If anyone deprives an heir of his inheritance, Allah will deprive him of his inheritance in Paradise on the Day of Resurrection. (Ibn Maja)
How do you earn your money?
Abu Huraira narrated that the Prophet said: A time will come upon the people when one will not care how one gains one’s money, legally or illegally. (Bukhari)
It is reported by Jabir that the Prophet said: The flesh and body that is raised on unlawful sustenance shall not enter Paradise. Hell is more deserving to the flesh that grows on one’s body out of unlawful sustenance. (Ahmad).
Abu Said related that the Prophet said: The truthful and trustworthy businessman will be in the company of Prophets, saints and martyrs on the Day of Judgment. (Darimi, Tirmidhi)
It is narrated by Abu Musa Ashari that the Prophet said: After the major sins which must be avoided, the greatest sin is that someone dies in a state of debt and leaves behind no asset to pay it off. (Darimi)
Abu Qatadah related that the Prophet said: If anyone would like Allah to save him from the hardships of the Day of Resurrection, he should give more time to his debtor who is short of money, or remit his debt altogether. (Muslim)
Strive with your wealth
“Believers are merely those whose hearts feel wary whenever God is mentioned and whose faith increases when His verses are recited to them. On their Lord do they rely. Those who keep up prayer and spend some of what We have provided them with are truly believers” (Quran 8:2-4).
Asmah related that the Prophet said: Spend, and do not count, lest Allah counts against you. Do not withhold your money, lest Allah withholds from you. Spend what you can. (Bukhari, Muslim)
Abu Huraira related that the Prophet said: The Lord’s commandment for every one of His slaves is, ‘Spend on others, and I will spend on you’. (Bukhari, Muslim)
The poor and your wealth
“Hast thou observed him who belieth religion? That is he who repelleth the orphan, and urgeth not the feeding of the needy” (Quran 107: 1-3).
Safwan ibn Salim related that the Prophet said: Anyone who looks after and works for a widow and a poor person is like a warrior fighting for Allah’s cause, or like a person who fasts during the day and prays all night. (Bukhari)
“O you who believe! Lo! many of the (Jewish) rabbis and the (Christian) monks devour the wealth of mankind wantonly and debar (men) from the way of Allah. They who hoard up gold and silver and spend it not in the way of God, unto them give tidings (O Muhammad) of a painful doom” (Quran 9:34).
Charity and punishment
It is narrated by Anas bin Malik that the Prophet said: Verily charity appeases the wrath of Allah and eases the sufferings of death. (Tirmidhi)
“Give the kinsman his due, and the needy, and the wayfarer, and squander not (your wealth) in wantonness. Lo! the squanderers were ever brothers of the devils, and the devil was ever an ingrate to his Lord” (Quran 17:26-27).
Amr ibn Shuaib, on his father’s authority said that his grandfather related that the Prophet said: When you eat, drink, give charity and wear clothes, let no extravagance or pride be mixed up with what you do. (Ibn Maja, Nasai).
Being a Miser
Abu Huraira narrated that the Prophet said: Every day two angels come down from Heaven and one of them says, ‘O Allah! Compensate every person who spends in Your Cause,’ and the other (angel) says, ‘O Allah! Destroy every miser’.(Bukhari).
Abu Said Khudri related that the Prophet said: There are two habits which are never present together in a believer: miserliness and bad manners (Tirmidhi).
Jabir reported that the Prophet said: Avoid doing injustice to others, for on the Day of Judgment, it will turn into manifold darkness, and safeguard yourself against miserliness, for it ruined those who were before you. It incited them to murder and treating the unlawful as lawful. (Muslim)