MONEY IN THE QUR’AN AND SUNNAH

MONEY IN THE QUR’AN AND SUNNAH

Many secularised Muslims in the modern age fervently believe that religion should have nothing to do with economic and political life. Such Muslims would be at a loss to explain, or even understand, the following incident in the life of Prophet Muhammad (sallalahu ‘alaihi wa sallam):
Abū Sa’īd al-Khudri said that Bilāl brought the Prophet some Barni dates, and when he asked him where he had gotten them he replied: “I had some inferior quality dates so I exchanged two Sa's of them for one Sa’ (of this).” The Prophet responded: “Ah! This is the very essence of Ribā, the very essence of Ribā! Do not do so, but when you wish to buy, sell the dates in a separate transaction, then buy with
what you get.” (Bukhāri, Muslim)

We learn from the above that Prophet Muhammad (sallalahu‘alaihi wa sallam) prohibited an unequal exchange of ‘dates’ for ‘dates’. He declared such an exchange to be the very essence of Ribā. Yet there is evidence that an unequal exchange of ‘camels’ for ‘camels’ was permitted:

Yahya related to me from Mālik from Nāf’i that Abdullah ibn Umar bought (i.e., exchanged) a female riding-camel for four camels and he guaranteed to give them in full to the buyer at ar-Rabādha. (Muwatta, Imām Mālik)

The question naturally arises: why was there a prohibition of an unequal exchange of dates, but no prohibition of an unequal exchange of camels?
The answer to that question, located in a very important Hadīth of the blessed Prophet (sallalahu ‘alaihi wa sallam) concerning Ribā, explains what is money in Islam:
Abī Sa’īd al-Khudri reported Allah’s Messenger as saying: “Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, and salt for salt. (When a transaction is) like for like, payment being made on the spot, then if anyone gives more or asks for more, he has dealt in Ribā, the receiver and the giver being equally guilty.” (Sahīh, Muslim)

The above Hadīth of Prophet Muhammad (sallalahu ‘alaihi wa sallam) has very clearly established three things: Firstly, it established ‘money’ in Islam to be either precious metals such as gold and silver, or other commodities such as wheat, barley, dates and salt which are commodities of regular consumption as food but which have a shelf-life. Thus, when there was a scarcity of gold and silver coins in the market in Madina, commodities such as dates, which were available in the market in abundant supply, and which had a shelf life, were used as money. Consequently, we can now answer the above question.

The unequal exchange of camels for camels was permissible since animals were never used as money. An
unequal exchange of dates for dates had to be prohibited, however, because dates were used as money, and permission for such an exchange would open the door for a moneylender to lend money on interest.

If the same principle concerning the use of commodities such as dates as money, were to be applied in the Indonesian island of Java, for example, then rice could be used as money if gold and silver coins were to be in short supply in that market.

In the island of Cuba on the other hand, sugar could be used as money, etc.
Some scholars of Islam argue that mankind is free to use anything, even a grain of sand, as money. Therefore, there is no prohibition to printing paper and assigning any value to the paper. Our response is that grains of sand or shells found on the seashore cannot qualify in Islam as money according to the Hadīth since they are neither precious metals nor or they commodities that are consumed regularly as food.

Secondly, when gold, silver, wheat, barley, dates and salt (rice, sugar, etc.) were used as money, the value of the money was ‘inside’ the money and not ‘outside’. Hence, the Hadīth established ‘money’ in Islam to possess intrinsic value.

Thirdly, money was always located within Allah’s creation in a commodity that was created by Allah Most High, with value assigned to it by Allah Most High Himself. He declared of Himself that He was al-Razzāck, the creator of wealth.

We may now describe money located in the Sunnah to be the following:
• precious metals or other commodities as described above,
• money with intrinsic value,
• money located within Allah’s creation with value assigned to such money by Allah Most High Himself Who is the creator of wealth.

Some scholars of Islam hasten to remind us that the Sunnah is comprised of two parts. The first is that which has come to us from the blessed Prophet but was based on Divine guidance. And the second is that which was based on his own opinion. The Prophet has himself advised his followers in respect of the second that “you are better informed about your worldly affairs.” The implication of this advice was that there was no obligation to follow such Sunnah.

The scholars go on to argue that ‘money’ falls in the second category. As a consequence, they argue, it is perfectly legitimate for Muslims to accept the present system of nonredeemable paper-money in which the Jewish-Christian ruling alliance simply has to print paper as money, assign a fictitious value to it, and in the process become creators of as much wealth as they want. They can then use their currencies to buy anything they want in any part of the world. 

However, when Muslims follow them in this blasphemous activity of creating wealth out of nothing, a suitcase filled with Indonesian Rupiahs or Pakistani Rupees cannot buy even a cup of coffee in Manhattan.

 

Such scholars of Islam have never declared the present monetary system of non-redeemable paper money to be Harām, and it seems as though they never will. They are, of course, very wrong in their judgement and they will have to face the consequences on the Day of Judgement for that atrocious failure. They do not consider that money in the form of precious metals created by Allah Most High with intrinsic value assigned to them by Allah Himself is firmly grounded in the blessed Qur’ān itself.

Allah Most High referred to a Dinār in this verse of Sūrah Āle ‘Imrān

“Amongst the People of the Scripture (i.e., the Torah) there are those who if entrusted (by a fellow Israelite) with a Qintār (a treasure of money such as a heap of gold coins) for safe-keeping, would return it upon demand. Yet amongst them there are those who if entrusted (by a Gentile, i.e., one who was not an Israelite) with a (single) Dinār (a gold coin) for safe-keeping, would not return it on demand unless the owner were to persist in demanding the return of his property. The reason for this (double standard) is because they argue that the (religious law) placed no obligation on them to be just and fair in their dealings with Gentiles. But they tell a lie against Allah (Most High),
and they know full well (that it is a lie).” (Qur’ān, Āle ‘Imrān, 3:75)

He also referred to a Dirham in this verse of Sūrah Yūsuf:

“And they sold him for a few measly Dirhams and they did so because they considered him to be of little worth.” (Qur’ān, Yūsuf, 12:20)

In both these verses of the Qur’ān Allah Most High has referred to ‘money’ as ‘gold’ and ‘silver’ coins. A Dinār was a gold coin with intrinsic value, and a Dirham or silver coin, also had intrinsic value. Both are firmly located in Allah’s creation and both possess value assigned to them by Allah Himself Who is the creator of wealth.

There are other verses of the Qur’ān that also refer to gold and silver as wealth, and such wealth could be used as money in the form of gold Dinārs and silver Dirhams:
“Beautified for mankind is love of the joys (that come) from women and offspring; and stored-up heaps of gold and silver (i.e., heaps of Dinārs and Dirhams), and horses branded (with their mark), and cattle and land. That is comfort of the life of the world. Allah! With Him is a more excellent abode.” (Qur’ān, Āle ‘Imrān, 3:14)

ِ“Lo! those who disbelieve, and die in disbelief, the (whole) earth full of gold would not be accepted from such an one if it were offered as a ransom (hence as money through which he seeks to ransom his soul). Theirs will be a painful doom and they will have no helpers.” (Qur’ān, Āle ‘Imrān, 3:91)

“O ye 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 (this would obviously be in the context of use of gold and silver as money) in the way of Allah, unto them give tidings (O Muhammad) of a painful doom.” (Qur’ān, al-Tauba, 9:34)

“And were it not that (all) men might become of one (evil) way of life, We would provide, for everyone that blasphemes against (Allah) Most Gracious, silver roofs for their houses and (silver) stair-ways on
which to go up, and (silver) doors to their houses, and thrones (of silver) on which they could recline, and also Zukhruf (i.e., gold). But all this were nothing but conveniences of the present life: The
Hereafter, in the sight of thy Lord is for those who fear (Him).” (Qur’ān, Zukhruf, 43:33-5)

"And if you wish to have (one) wife in place of another and you have given one of them a Qintār (i.e., a treasure of gold and silver coins), then take not from it anything; would you take it by slandering (her) and (doing her) manifest wrong?” (Qur’ān, al-Nisā, 4:20)

The Qur’ān goes on to reveal the extraordinary news that gold and silver would maintain their status as things of great value in the next world as well. In other words, gold and silver possess a spiritual reality as things of value, in addition to their value in this material world:

“Their raiment will be fine green silk embroidered in gold. Bracelets of silver will they wear. Their Lord will quench their thirst with a drink (sparkling) with purity.” [This verse, as well as others that
follow, reveal that gold and silver will remain precious and valuable in the hereafter as well.]
(Qur’ān, al-Insān, 76:21)

“Therein are brought round for them trays of gold and goblets, and therein is all that souls (i.e., hearts) desire and eyes find sweet. And you will abide therein forever.” (Qur’ān, al-Zukhruf, 43:71)

"Then why are not gold bracelets bestowed on him, or (why) come (not) with him angels accompanying him in procession?" [Hence they recognised gold to be precious and that it can be bestowed from above.] (Qur’ān, al-Zukhruf, 43:53)

“Gardens of Eternity will they enter: therein will they be adorned with bracelets of gold and pearls; and their garments there will be of silk.” (Qur’ān, al-Fātir 35:33)

ِ“Allah will admit those who believe and work righteous deeds, to Gardens wherein rivers flow: they shall be adorned therein with bracelets of gold and pearls; and their garments there will be of silk.”
(Qur’ān, al-Hajj, 22:23)

“For them will be Gardens of Eternity wherein rivers will flow; they will be adorned therein with bracelets of gold, and they will wear green garments of fine silk and heavy brocade: They will recline
therein on raised thrones. How good the recompense! How beautiful a couch on which to recline!”
(Qur’ān, al-Kahf, 18:31)

"(Even if) you have a house adorned with gold, or you mount a ladder right into the skies, we shall not believe in your mounting (into the skies) until you send down to us a book that we could read." Say:
"Glory to my Lord! Am I aught but a man - a messenger?" [Thus they recognised gold to be something precious and of great value.] (Qur’ān, al-Isrā, 17:93)

Indeed, the gold Dinār is destined to play a very significant role on Judgement Day itself. In a very long Hadīth, the weight of goodness in a heart, when measured against a Dinār, would be the measure by which people would be taken out of the hell-fire. Here is the relevant passage from the long Hadīth:

Abū Sa'īd al-Khudri reported: When the Day of Resurrection comes a Mu'adhdhin (a proclaimer) would proclaim: “Let every people follow what they used to worship . . . .”
Then their persons would be forbidden to the Fire; and they would take out a large number of people who had been overtaken by Fire up to the middle of the shank or up to the knees. They would then say:
“O our Lord not one of those about whom Thou didst give us command remains in it (in Jahannam)”. He will then say: “Go back and bring out (from the hell-fire) those in whose hearts you find good of the weight of a Dinār.” Then they will take out a large number of people. Then they would say: “O our Lord! We have not left anyone about whom You commanded us.” 

He will then say: “Go back and bring out those in whose hearts you find as much as half a Dinār of good.” Then they will take out a large number of people, and would say: “O our Lord! not one of those about whom Thou commanded us we have left in it.” Then He would say: “Go back and in whose heart you find good to the weight of a particle bring him out.” They would bring out a large number of people, and would then say: “O our Lord, now we have not left anyone in it (Hell) having any good in him . . . .” (Sahīh, Muslim)

The above verses of the Qur’ān and the above Hadīth demonstrate that gold and silver were created by Allah Most High with great value bestowed on them, and that such value would survive this mundane world to be retained in the next world as well. The verses also demonstrate that Allah Most High, in His wisdom, created gold and silver to be used, among other things, as money. Whoever is so blind as to challenge this
clear fact should prepare himself to defend his view on Judgement Day.

Money with intrinsic value has today disappeared from the money-system used around the world. The entire Muslim world is also guilty of having abandoned ‘money’ that is firmly grounded in the Qur’ān itself and which is of value even in the hereafter. Muslims have already paid a horrible price for having abandoned that ‘sacred money’ and accepted in its place an utterly fraudulent means of exchange in the form of ‘secular
money’.

Our purpose in this essay is to explain, briefly of course, how and why the disappearance of Sunnah money has occurred. We ask that those who read, understand and agree with the arguments presented in this essay, respond to the following command of Prophet Muhammad (sallalahu ‘alaihi wa sallam):

Abū Sa’īd al-Khudri said: I heard the Messenger of Allah say:
"Whosoever of you sees (anything that is) evil, let him change it with his hand; and if he is not able to do so, then with his tongue; and if he is not able to do so, then with his heart; and that is the weakest (state of) faith."
(Sahīh, Muslim)

Sourch : THE GOLD DINĀR AND SILVER DIRHAM: ISLAM AND THE FUTURE OF MONEY

Imrān N. Hosein
MASJID JĀMI’AH; CITY OF SAN FERNANDO
TRINIDAD AND TOBAGO