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Philosophy and Fundamentals of Sharī’ah for Islamic Finance
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Allāh SWT says:
“And the earth We have spread out (like a carpet); set thereon mountains firm and
immovable; and produced therein all kinds of things in due balance”.

(al-Ḥijr 15:19)

Allāh SWT says:
“And there is not a thing but its (sources and) treasures (inexhaustible) are with us;
but We only send down thereof in due and ascertainable measures”.
(al- Ḥijr 15:21)

Scarcity of means necessitates a choice to provide higher values but at the
same time performing one’s mission in this life. Choice in Islām should be
ranked according to the needs and fulfilment but not greediness.

According to the Islamic concept, wealth is considered as an endowment and a
gift from Allāh SWT and human beings are considered as trustees of Allāh
SWT’s resources on earth. These resources are to be wisely treated, not
abused, destroyed, wasted or left to idle. Hence, when a man dies, one of
the major questions which will be asked is regarding the acquisition and
spending of his wealth.

Prophet SAW said:
“Man’s feet will not move on the Day of Resurrection before he is asked about his
life, how did he consume it, his knowledge, what did he do with it, his wealth,
how did he earn it and how did he dispose of it, and about his body, how did he
wear it out.”
(Sunan al- Tirmidhī)

2. Unlimited Wants

Islām recognizes that human desires are unlimited. This is explained in the
Qur’ān and Ḥadith.

Allāh SWT said:
“Fair in the eyes of men is the love of things they covet: Women and sons;
Heaped-up hoards of gold and silver; horses branded (for blood and excellence);
and (wealth of) cattle and well- tilled land. Such are the possessions of this
world’s life; but in nearness to Allāh SWT is the best of the goals (to return to)”.

(Āli-‘Imrān 3:14)