The Garden of Knowledge

بسم الله الرحمن الرحيم

27 Safar 1446/22 August 2025

All praise is due to Allah ﷻ, the Cherisher, Sustainer, Nourisher and Provider of the entire creation. May peace, blessings and salutations be upon our Beloved Prophet Muhammed ﷺ.

From an Islamic perspective, the true owner of all wealth is non-other than our creator and our sustainer, Allah. As humans, we are just merely the custodians of the wealth and we have a responsibility to ensure we spend the wealth in a manner which is pleasing to Allah. We find that amongst the commands of Allah, we are guided and commanded to believe in Allah and His Messenger ﷺ thereafter spending of that which we were entrusted with (our wealth). Wealth in Islam has been envisioned as a tool for living life in accordance with the principles of Shariah.

The underlying notion is that nothing in this world should be done just for the sake of acquiring wealth. Instead, wealth should be accumulated, protected against loss, and used to raise one’s level of devotion to Allah. This is a significant break from the Western conception of prosperity, where economic pursuits have taken centre stage in both personal and governmental affairs. This does not imply that Islam is against or against economic endeavours however it promotes social justice, assistance and selflessness.

The method of accumulating wealth is done through investment. Muslims are required to make investments in Shariah-compliant products. The goal is to sustain acquired wealth while generating a reasonable rate of capital growth. Asset allocation, investment policy, and other issues are all factored. As mentioned earlier there absolutely nothing wrong with accumulating wealth as long as the whole process is in accordance with Shariah.

There are 3 fundamental steps to consider when accumulating wealth. The first is earning, one’s earning of wealth may be acquired through various sources such as inheritance, salaries or even from investment returns as long as they are in accordance with the Shariah. The second step is saving, one needs to ensure they have a proactive savings plan in mind. This is important especially in the day and age which we live. Inflation is high on the rise, the standard of living and cost of medical fees and education are constantly on a rise which has more often than not, put people in a state of vulnerability. The third step being investment, besides having a normal day-to-day and earning hand to mouth salary, once a person has generated enough saving, it is highly recommended to set up investments which possess an element of risk however allows a person to generate an income as well.

At the same time we should not forget an important stage of wealth management which is wealth purification. Wealth purification can take place in my different ways. The first is the zakah tax system which was established by the Shariah as a means of wealth purification. Every Muslim whose wealth exceeds a particular threshold must pay zakah at a fixed rate of 2.5 %. Zakah is also a way of bridging the gap between rich and poor people in society and ensuring that everyone’s needs are addressed. Other means of wealth purification involve investing in waqf funds, payment of sadqah (charity) which are all voluntary and encouraged. The command of wealth purification comes from the Quran, where Allah ﷻ mentions in Surah Tawba, verse 103:

خُذْ مِنْ أَمْوَٰلِهِمْ صَدَقَةً تُطَهِّرُهُمْ وَتُزَكِّيهِم بِهَا وَصَلِّ عَلَيْهِمْ ۖ إِنَّ صَلَوٰتَكَ سَكَنٌ لَّهُمْ ۗ وَٱللَّهُ سَمِيعٌ عَلِيمٌ

“Take from their wealth O Prophet ﷺ charity to purify and bless them, and pray for them—surely your prayer is a source of comfort for them. And Allah is All-Hearing, All-Knowing.”

It is important to note that Islam promotes hard work and despises laziness. We need to keep in mind that part of wealth accumulation, it should not be attained by usurping the wealth of others or even by harming others. It is of high importance to apply well thought out asset allocation and portfolio diversification strategies in order to preserve and accumulate wealth and at the same time combat inflation.  

We ask Allah ﷻ to accept all our efforts and allow us to gain closeness to Allah ‎ﷻ and His Beloved Nabi ﷺ.