The Garden of Knowledge

بسم الله الرحمن الرحيم

 24 Rabi ut Thaani 1447/17 October 2025

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

Principles of Maqasid al Shariah can be found in almost every aspect of our life. If we take a close look Maqasid al Shariah as a whole, we will notice wealth management present in all categories of Maqasid al Shariah. The importance of Maqasid al Shariah is as follows:

Firstly we have, Wealth Management to attain Dururat (Neccessities/essentials): As mentioned previously Dururat refers to all those matters which are essential for human life and with their absence humankind will face many difficulties. It was mentioned that there are primarily five dururat. Firstly, the preservation of faith (deen). By a person just merely managing his/her wealth in a suitable manner, one can live a tranquil lifestyle and focus on other aspects of faith such as worship. It is noticed that at times when people are afflicted with poverty, it is possible they may lose hope and lose their faith. However it is important to realize and understand that if one has wealth, it does not necessarily mean they will be steadfast on their faith as wealth has the ability to push someone further from their faith. So we should remember the practice of our beloved Prophet Muhammed ﷺ which can be found in a hadith:

عَنْ مُسْلِمِ بْنِ أَبِي بَكْرَةَ، قَالَ كَانَ أَبِي يَقُولُ فِي دُبُرِ الصَّلاَةِ اللَّهُمَّ إِنِّي أَعُوذُ بِكَ مِنَ الْكُفْرِ وَالْفَقْرِ وَعَذَابِ الْقَبْرِ فَكُنْتُ أَقُولُهُنَّ فَقَالَ أَبِي أَىْ بُنَىَّ عَمَّنْ أَخَذْتَ هَذَا قُلْتُ عَنْكَ ‏.‏ قَالَ إِنَّ رَسُولَ اللَّهِ صلى الله عليه وسلم كَانَ يَقُولُهُنَّ فِي دُبُرِ الصَّلاَةِ ‏.‏

It was narrated that Muslim bin Abi Bakrah said: “My father used to say following every prayer: ‘Allahumma inni a-udhu bika min al-kufri wal-faqri wa ‘adhab al-qabr. ( O Allah, I seek refuge with You from Kufr, poverty, and the torment of the grave)’ and I used to say them (these words). My father said: ‘O my son, from whom did you learn this?’ I said: ‘From you. He said: “The Messenger of Allah ﷺ used to say them following the prayer.’” (Sunan an-Nasa’i 1347)

Secondly, wealth management can play a huge role in the preservation of a life (nafs/haya). One great tragedy which we may notice in the global affairs of society is how many lives are lost due to extreme poverty with a large percentage bring children. In many extreme cases we may find that out of great fear of poverty, parents may even go to extent of killing their own children. We find that Allah ﷻ strictly prohibits this in Surah Isra, verse 31:

وَلَا تَقْتُلُوٓا۟ أَوْلَـٰدَكُمْ خَشْيَةَ إِمْلَـٰقٍ ۖ نَّحْنُ نَرْزُقُهُمْ وَإِيَّاكُمْ ۚ إِنَّ قَتْلَهُمْ كَانَ خِطْـًٔا كَبِيرًا

“Do not kill your children for fear of poverty. We provide for them and for you. Surely killing them is a heinous sin.”

This is where our wealth management can make a difference. It is where wealth management ties in with faith. If wealth is controlled in a systematic manner without wastage in conjunction with absolute faith in Allah ﷻ being the one and only provider for us it is possible to decrease poverty and preserve life. Another way we can manage our wealth to preserve life is to set aside a portion of excess wealth for those who possess more than others and use it to assist those who are suffering from poverty with the intention of doing it for the pleasure of Allah ﷻ and the social upkeep of fellow Muslim brothers and sisters.

Thirdly, wealth management can be found within the preservation of offspring and lineage (nasl). Since we all have a responsibility to our families, wealth management can be a useful tool in this situation. We have the responsibility to provide a comfortable life for our family and to ensure that when we leave this temporary world, there is sufficient resources for our family to get by for a certain period, especially the period following our demise. It is mentioned in the Quran, surah Baqarah, verse 240:

وَٱلَّذِينَ يُتَوَفَّوْنَ مِنكُمْ وَيَذَرُونَ أَزْوَٰجًا وَصِيَّةً لِّأَزْوَٰجِهِم مَّتَـٰعًا إِلَى ٱلْحَوْلِ غَيْرَ إِخْرَاجٍ ۚ فَإِنْ خَرَجْنَ فَلَا جُنَاحَ عَلَيْكُمْ فِى مَا فَعَلْنَ فِىٓ أَنفُسِهِنَّ مِن مَّعْرُوفٍ ۗ وَٱللَّهُ عَزِيزٌ حَكِيمٌ

“Those of you who die leaving widows should bequeath for them a year’s maintenance without forcing them out. But if they choose to leave, you are not accountable for what they reasonably decide for themselves. And Allah is Almighty, All-Wise.”

The preservation of nasl, according to some scholars includes the preservation of dignity. If we take this into account, wealth management will allow for a person to be in a good position which shall not leave any door open for a person to go out and engage in any activity which may negatively affect ones dignity in order to make a living. 

Fourthly, wealth management can be sort of associated with preservation of the intellect (aql). Not to say that if you have less, you hardly have an intellect, but rather good management of wealth can put a person in a good position to intellectually grow at good rate with a great number of resources at ones disposal. Unfortunately we are living in a time and era where everything costs money and sadly the costs are ridiculously high to which some may not be able to afford. There is a way in which a person can manage wealth to assist with the preservation of intellect of others and that is in the form of bursaries and scholarships as we know it today. Individuals can set out portions of wealth and contribute to a fund which will provide education and access to resources to all individuals who do not have the financial means to do so themselves.

Lastly, wealth management in association with the preservation of wealth (maal). Islam places great emphasis on preserving one another’s wealth and managing wealth in a just manner. This is in accordance with verse 188 in surah Baqarah:

وَلَا تَأْكُلُوٓا۟ أَمْوَٰلَكُم بَيْنَكُم بِٱلْبَـٰطِلِ وَتُدْلُوا۟ بِهَآ إِلَى ٱلْحُكَّامِ لِتَأْكُلُوا۟ فَرِيقًا مِّنْ أَمْوَٰلِ ٱلنَّاسِ بِٱلْإِثْمِ وَأَنتُمْ تَعْلَمُونَ

“Do not consume one another’s wealth unjustly, nor deliberately bribe authorities in order to devour a portion of others’ property, knowing that it is a sin.”

According to Muslim jurists, wealth preservation can be achieved in at least five or six different ways, namely: (Dusuki & Bouheraoua, 2011)

• Preservation of wealth through the protection of ownership – Islam acknowledges humanity’s natural desire to own excellent resources by establishing clear standards for acquiring, using, and safeguarding them through balanced and fair legislation. Contracts governing various forms of contracts have been established to manage the transfer of financial rights in order to safeguard ownership.
• Preservation of wealth through acquisition and development – The acquisition and growth of wealth is considered the foundation of ownership and property rights in Islam, and people saw their efforts as securing them exclusive rights to anything they might gain as a result. Acquisition can be related to and linked to development. When attempting to comprehend the philosophy behind the imposition of zakah on economic property, it is possible to conclude that the obligation for Muslims to pay zakah implies the need to develop wealth.
• Preservation of wealth from damage – Shariah not only enables people to acquire money and benefit from it, but it also lays a strong focus on preventing wealth and property from being harmed, destroyed, or damaged. Protecting wealth from harm can take two forms: first, protecting wealth from risks that we may cause harm, and second, safeguarding wealth from harm caused by its harmful purposes. If risks are not effectively handled, they might result in catastrophic consequences. It is mentioned in surah Baqarah, verse 195:

وَأَنفِقُوا۟ فِى سَبِيلِ ٱللَّهِ وَلَا تُلْقُوا۟ بِأَيْدِيكُمْ إِلَى ٱلتَّهْلُكَةِ ۛ وَأَحْسِنُوٓا۟ ۛ إِنَّ ٱللَّهَ يُحِبُّ ٱلْمُحْسِنِينَ

“And spend of your substance in the cause of Allah, and make not your own hands contribute to (your) destruction; but do good; for Allah loveth those who do good.”

• Preservation of wealth through its circulation- In the Shariah, circulation refers to the distribution of wealth in the community among as many hands as possible without causing harm to those who have earned it properly. This promotes community harmony while also promoting long-term economic prosperity and development. Further to this it includes the concept of assistance and distribution of wealth through your Zakah and Sadqah which is a means of purification of your wealth.
• Preservation of wealth through its value protection – The importance of wealth circulation necessitates the need to safeguard and sustain its worth. Money is regarded as a unit of measurement and medium of exchange rather than a commodity in Islam. As a result, a specific monetary rule is imposed. The issue of value protection also entails the prohibition of any form of devaluing or overpricing of commodity.
• Wealth management to attain the Hajiyat (complimentaries): Hajiyat usually refers to those which are less essential for human life but still may cause some difficulties and challenges. Good wealth management will allow for people to live much comfortable and remove hardship and difficulty from their lives. This includes having a proper house, access to transport, some sort of healthcare and even household needs of good quality and in decent quantities.

One way to ensure proper wealth management is to get involved in Takaful. Takaful refers to mutual indemnification and assistance whereby compensation for misfortune of risks associated with it are shared amongst a group. Although one can live without Takaful, subscription of Takaful allows for better protection for oneself and one’s family.

• Wealth Management to attain Tahsiniyyat (luxuries): Tahsiniyyat refers to those luxuries which provide ease and are means of beautification. There is absolutely no harm for a person to invest in any luxuries however what is important is that a person doesn’t spend out of wealth which one does not possess to attain these luxuries. One should live within one’s means and if one ensures good wealth management, one may attain certain luxuries as long as one does not use it as a means to look down on others and display a sense of superiority over others. It is mentioned in surah Najm, verse 32:

فَلَا تُزَكُّوٓا۟ أَنفُسَكُمْ ۖ هُوَ أَعْلَمُ بِمَنِ ٱتَّقَىٰٓ

“So do not falsely elevate (claim purity) yourselves. He knows best who is truly righteous.”

Without a doubt, it can be concluded that Maqasid al Shariah and wealth management go hand-in-hand. In order to achieve and attain each category/stage of Maqasid al Shariah, wealth management is needed and plays a huge role. When looking and addressing contemporary issues through the lens of Maqasid al Shariah, one should take a glance at the wealth implications it may have, thereafter strategizing and ensuring proper wealth management to achieve preservation and protection in all aspects hence achieving the objectives of Maqasid al Shariah.

We ask Allah to grant us the strength and ability to worship Allah in the manner which is due to Him. May Allah accept our efforts from us and grant us understanding In Sha Allah!