Qardan Hasana Goodly Loan |
Written by Nuraz |
Salaam (WRWB). I had recently given khutbah about this topic. And so I thought to modify it into an article format. In Islam finance and halal wealth is an obligation to us as Muslims. Every day we make money to buy our daily essentials and other products. Contrary to modern belief, wealth isn’t measured quantifiable in Islam, but rather quantifiable. If you make $1M the haram way, it is way worse than a halal made $10K.
One of the components that add fuel to the flame to this haram income making is Riba. Allah (SWT) indicates Riba as heavily disliked, proclaiming to us in the Quran,
ٱلَّذِينَ يَأۡكُلُونَ ٱلرِّبَوٰاْ لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ ٱلَّذِي يَتَخَبَّطُهُ ٱلشَّيۡطَٰنُ مِنَ ٱلۡمَسِّۚ ذَٰلِكَ بِأَنَّهُمۡ قَالُوٓاْ إِنَّمَا ٱلۡبَيۡعُ مِثۡلُ ٱلرِّبَوٰاْۗ وَأَحَلَّ ٱللَّهُ ٱلۡبَيۡعَ وَحَرَّمَ ٱلرِّبَوٰاْۚ فَمَن جَآءَهُۥ مَوۡعِظَةٞ مِّن رَّبِّهِۦ فَٱنتَهَىٰ فَلَهُۥ مَا سَلَفَ وَأَمۡرُهُۥٓ إِلَى ٱللَّهِۖ وَمَنۡ عَادَ فَأُوْلَـٰٓئِكَ أَصۡحَٰبُ ٱلنَّارِۖ هُمۡ فِيهَا خَٰلِدُونَ
Meaning - Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, “Trade is [just] like interest.” But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah. But whoever returns to [dealing in interest or usury] – those are the companions of the Fire; they will abide eternally therein. (2:275)
Consider this ayat and reflect on how you can consider a companion of the Hellfire because of the way you invested in the Dunya. That is surely something we as Muslims should avoid. As it is a huge red flag. For those who don’t know who Riba is, I will give you an example.
Imagine you taking a loan from a bank dealer called Mr Smith. You then ask him for a $100K loan. Mr Smith then tells you, “You may receive this $100K loan, but under one condition.”
You ask him, “What is that one condition?” He responds, “You pay me an extra $10K when you pay your loan back.” Look here, as this dude Mr Smith now is making extra money for doing absolutely nothing which goes against the principles of Islam. That’s Riba.
Now imagine this scenario but in the opposite format. You go to Mr Smith, asking him for a $100K loan. Mr Smith then tells you, “You may receive this $100K loan, and the duration you use this loan will be Sadaqah until you return it.”
There’s no extra drawbacks and no sneaky loopholes, and this is Islamically appropriate. This is Qardan Hasana.
Now that we’ve seen both sides let us go over Qardan Hasana, the title of this article. Qardan Hasana simply means, a “goodly loan.” It’s a loan that promotes and conveys finance but with an ethical and positive manner. It’s a metaphor as you don’t actually “pay” to Allah (SWT) but rather you pay for the sake of Allah (SWT) in the name of Sadaqah. It’s to promote good within the community and society, which in today's world is something that the Ummah lacks.
Like Mr Smith had said, it is to be Saqdah until the loan has been fully paid back. This is not just an investment with the banker or the person, but rather with Allah (SWT).
Allah (SWT) mentions in the Quran,
إِن تُقۡرِضُواْ ٱللَّهَ قَرۡضًا حَسَنٗا يُضَٰعِفۡهُ لَكُمۡ وَيَغۡفِرۡ لَكُمۡۚ وَٱللَّهُ شَكُورٌ حَلِيمٌ
Meaning - If you loan Allah a goodly loan, He will multiply it for you and forgive you. And Allah is Most Appreciative and Forbearing. (64:17)
This goes to show that when we invest in Qardan Hasana we also make an investment towards Allah (SWT). As he will give nothing less and give nothing more, simply the same amount you invested.
And that is the purpose of this loan. Also note that this ayats says forgiveness showing how investing with Allah (SWT) is like leagues and levels away from investing with your local bankers. So try to emphasize and to promote the trade with Allah (SWT).
Another aspect to consider Qardan Hasana is the Prophet (PBUH) committing it. As we know from his life he was a man of trade, working in his uncle's caravan and also under Khadijah (RA) business. He was notorious for his success in trade because he had been equipped with ethics and also had a great character.
Although not by the name Qardan Hasana, Sadaqatul-Jariyah is another type of “loan.” To understand its significance we first have to go over this hadith. As in a hadith narrated by Ibn Majah states,
“The best of what a man leaves behind are three: a righteous child who supplicates for him, ongoing charity the reward of which reaches him, and knowledge that is acted upon after him.” (Ibn Majah 237)
This just gives you the understanding of how powerful Sadaqah-tul-Jariyah is. Wealth isn’t just a privilege. So spend in the cause of Allah (SWT) as it is one of the qualities of the Muhsinun.
And when we are in our graves and getting hasanat by doing nothing, that is because of Sadaqatul-Jariyah and it should be a priority. It can be as simple as a Fityah Well or a program or organization in your community. Spreading knowledge to the next generation such as Quran verses or Hadiths.
When investing, always remember not everything will become a hit on the spot. Sometimes it takes patience, at times extreme patience for your investment to become successful. But no matter your success in akhirah is guaranteed when you spend for the cause of Allah (SWT) whilst you are remembering it. Have barakah for things you do and start with Bismallah. Be grateful for what you have.
And remember that wealth isn’t a priority. It is a test, a trial from Allah (SWT). Allah (SWT) says in the Quran,
إِنَّمَآ أَمۡوَٰلُكُمۡ وَأَوۡلَٰدُكُمۡ فِتۡنَةٞۚ وَٱللَّهُ عِندَهُۥٓ أَجۡرٌ عَظِيمٞ
Meaning - Your wealth and your children are but a trial, and Allah has with Him a great reward. (64:15)
Take this approach to wealth.
In conclusion Qardan Hasana is meant to be a cheat sheet for the exam. It’s a metaphor for spending in the cause of Allah (SWT). The sole purpose of utilizing Qardan Hasana is to give charity to others and help others. Remember Qardan Hasana does not have to be solely money. It can also be property or animals. Also note that with today's modern income and the unravelling of many new haram forms of making money, we should always stick to moneymaking within the deen and not follow those quick rich money hack programs. Because there is no fast money making method. It’s rather how much you get tested from Allah (SWT).
In a hadith reported the narration Prophet (PBUH) saying,
"I fear two things for my Ummah: the Qur’an and milk. As for milk, they seek the countryside, follow desires, and neglect the prayers. As for the Qur’an, the hypocrites learn it to argue with the believers by means of it." (Uqabah Ibn Amir)
May Allah (SWT) give us the ability to make the best of our income and forgive our past sins and make us also be able to generate wealth the halal way. Remember that money in the eyes of Allah (SWT) is measured quantifiable meaning how the money is made, not the amount of money itself. Salaam (WRWB).