CONSEQUENCES OF THE ISLAMIC WORLDVIEW OF WEALTH
Do they not see that Allah extends provision for whom He wills and restricts it? Indeed, in that are signs for people who believe. So, give the relative his right, as well as the needy and the traveler. That is best for those who desire the countenance of Allah, and it is they who will be successful. And whatever you give for interest to increase the wealth of people will not increase with Allah. But what you give in zakah, desiring the countenance of Allah, they shall have manifold increase. (Qur’an 30:37–39)
Developing the proper mindset and attitude towards wealth is optimal for both an individual’s well-being and that of society. Once the believer internalizes that wealth belongs to Allah, that they are merely trustees of what they have been given, and that what they do with their wealth is a test from Allah, they are now in position to spend and invest it properly. The above verses of Sūrat al-Rūm provide a formula for how beliefs about wealth transform into appropriate economic behavior. Rāzi mentions that the first verse orients the believer to who gives rather than what is given. If the attention is on the Giver, then one’s psychological state should not fluctuate if they are given a lot or a little, as the believer should have absolute trust in Allah and be content with their sustenance. Rāzi further states that when Allah declares that He alone extends and restricts [wealth], this implies that one should never hold back from giving freely, for if Allah gives then charity will not decrease one’s wealth, and if He restricts then holding onto one’s wealth will not increase it. (Al-Rāzī, al-Tafsīr al-Kabīr.) This is the essence of the narration where the Prophet صلى الله عليه وسلم mentioned the paradoxical nature of many faith-inspired actions. “Charity does not decrease wealth, no one forgives another person but Allah increases their honor, and no one humbles himself for the sake of Allah but that Allah raises their status.”(Ṣaḥīḥ Muslim, no. 2588) Once these beliefs are firmly in the heart of a believer, we are commanded to give generously to our relatives, the poor, and travelers. There is an important connection between giving to those nearest to us and our psychological states. Recent neuroscience research has found that people who believe in the obligation to help family and kin find giving money to them to be just as personally rewarding and pleasurable as receiving money themselves. People from these interdependent backgrounds that value assisting others have increased mesolimbic reward system activation in the brain when contributing to their family compared to those who are more individualistic.(Telzer et al) This appears to be a neural manifestation of loving for others what one loves for themself.
Finally, the notion of growth is reframed in the third verse. From a worldly perspective, fixed-income securities (e.g., bonds, money-market accounts, certificate of deposit) are low-risk safe investments that typically rely on interest for growth. Many investors feel a sense of security when dealing with such interest-based assets. However, Allah informs us that money invested in these interest-bearing assets do not grow from His perspective, which is the only perspective that truly matters. In fact, such investments are seen as repulsive, as the Qur’an states that “Allah destroys interest and gives increase for charities.” (Qur’an 2:276) Allah reframes the notion of compound growth by saying that it is charitable (e.g., zakah) investments that are subject to compound growth. This juxtaposition of interest-based investments versus charitable investments as growth items is intrinsically tied to the notion of barakah.
By Osman Umarji
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