Encyclopaedia of Islamic Economy: Business and trade in islam

Download or read book Encyclopaedia of Islamic Economy: Business and trade in islam written by Muhammad Moinuddin Khan and published by . This book was released on 2009 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: On the one hand, hard work is vitalizing and keeps the body active and ready to work; on the other hand, it promotes a healthy life. During the time of the Prophet (Pbuh), people would go from city to city in groups (called carvans) to trade. This involved travel to far-off places where people sold their commodities and brought back the products available there. There are advantages of trading which are particularly significant. Such exchange of goods results in an exchange of cultural values as well and increases knowledge of the world. Prophet Muhammad (Pbuh) himself led many expeditions and earned money as well as reputation and respect. Islam prohibits business based on gambling. Likewise, selling products which are prohibited by Islam for consumption, must not be traded. Accordingly, sale of pork and the meat of dead animals are prohibited. Islam places strong emphasis on cleanliness and fairness in life, be it in transactions, commitments, agreements or in food, drinks, clothings, etc. Islam condemns unfair, flawed or tainted practices in businesses and enterprises. This particular work carefully examines and emphasizes each and every aspect of business and trade as per Islamic injunctions