Our Business and Economics
[10:104] Say: O people! if you are in doubt as to my religion, then (know that) I do not serve those whom you serve besides Allah but I do serve Allah, Who will cause you to die, and I am commanded that I should be of the believers. .
Islamic Economics
Our obligation is not just to make money but to make halal money. This is a broad statement that is the basis for Islamization of a society's economic life. Not every business idea or possible business enterprise is good for the society. And the decision regarding right and wrong here cannot be left to the so-called market forces. Right and wrong in the economic life, as in all life, must be determined by a higher source. Shariah guides us as to the halal and haram business enterprises and practices, and at both individual and collective levels we must follow that guidance.
At times that guidance may conflict with the prevailing practices. For example riba (interest), gambling, pornography, and liquor are haram, and no matter how attractive the financial rewards of engaging in those enterprises may seem to be, a Muslim must refrain from them. This is the economic struggle of a believer, and it is obvious why it should be carried out as a religious obligation. At the individual level the obligation is to engage is halal professions and businesses. At the collective level the obligation is to establish a system that facilitates such individual efforts and discourages their opposite.