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Wills are operative only for one-third of property and favor persons other than creditors and heirs. The goal of this rule seems to be twofold: To permit a person to adjust things, in extraordinary cases, when the normal rule causes hardship (one-third of the property is enough for fu

One also has obligations as a member of a larger family (i.e., society and the state of residence). In the economic sphere, one pays taxes that the government then redistributes in the collectivity’s interest. Tax rates differ according to the sources of income. Interestingly, t

This consists of risks involving heavy charges from objects of insurance, and differs according to the times and social conditions. Among the Arabs of the Prophet’s time, daily ailments were unknown and the cost of medical care was practically nothing. The average man built his

Qur’an 5:90 prohibits all games of chance and characterizes them as the “work of Satan” for cogent reasons. First, most social evils emanate from an inequitable distribution of the national wealth, which allows some to become too rich and others to become too poor. A

Probably every religion has prohibited usury. However, only Islam provides remedies to undermine the causes leading to this evil institution: Nobody willingly pays interest on borrowed money. He or she pays interest because the money is needed and there is no other choice. Islam has m

When planning, one needs to have an idea about the available resources. The Messenger organized a census of the Muslim population, as al-Bukhari informs us. During ‘Umar’s caliphate, a census of animals, fruit trees, and other goods was organized, and cultivable lands were

We end this brief sketch by mentioning two important prohibitions that are characteristic of a Muslim’s daily life: games of chance and alcoholic drinks. Having already discussed the first one, which causes the vast majority of its participants to spend money for years without g

All financial and other dealings are based on some expressed or implicit agreements. Honoring these agreements is the key to happy and smooth relationships among members of a community or a society. Therefore, the Qur’an stresses this principle and, in several places, actually l

To avoid such problems due to forgetfulness or other reasons, and to reduce any chance of misunderstanding and bad faith, the Qur’an orders that all financial deals be committed to paper and witnessed, as we read in the following passage: O you who believe, when you contract a d

Writing a clear, detailed agreement and having it duly signed and/or witnessed can prevent two problems: forgetfulness and misunderstanding. In addition, it can reduce the chance of any involved party being tempted to take advantage of the other parties by lying, cheating, or other cr