A Comprehensive Guide About Islam

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Islam And Wealth
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In Islam, all wealth is the possession of Allah with which humans are entrusted. It is a responsibility; it must be earned through permissible means and spent in permissible ways, such as spending on one's self and those for whom he is responsible for, without extravagance or waste. The Messenger of Islam, Muhammad said:

"A slave will not be able to take a step further on the Day of Requital until he is taken to account for [the following things]: his time and how he spent it, his knowledge and how he used it, his money and how he earned and spent it, and his youth and how he passed it. (Tirmidhi)

It must also be spent in good ways. Allah says:

(Righteousness is not that you turn your faces toward the east or the west, but [true] righteousness is [in] one who believes in Allah, the Last Day, the Angels, the Book, and the prophets and gives wealth, in spite of love for it, to relatives, orphans, the needy, the traveler, those who ask [for help], and for freeing slaves." ) (2:177)