Prophet Mohammed(pbuh) teachings on trade and debt

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Sayyidna Jareer ibn Abdullah, Radi-Allahu anhu, once sent his servant for buying a horse.

The servant made a deal for three hundred dirhams and brought the seller with him so he could be paid.

Sayyidna Jareer ibn Abdullah, Radi-Allahu anhu, looked at the horse and realized that the seller had undervalued it.

So he asked:
"Would you sell it for four hundred?"

The seller agreed. "How about five hundred?"
he continued his unusual "bargaining" and finally bought the horse for eight hundred dirhams.

He was later asked why he did so...

"The seller was not aware of the true value of this horse, " he explained.

"I have simply given him a fair price because I had promised to Prophet Muhammad, Sall-Allahu alayhi wa sallam, to always be sincere and well-wisher for every Muslim."

- It was narrated from Jaabir ibn 'Abdullah (may Allah be pleased with him) that the Messenger of Allah (blessings and peace of Allah be upon him) said:

"May Allah have mercy upon a man who is easy-going when he sells and when he buys and when he asks for payment."

Narrated Abu Huraira:
The Prophet owed a camel of a certain age to a man who came to demand it back. The Prophet ordered his companions to give him. They looked for a camel of the same age but found nothing but a camel one year older. The Prophet told them to give it to him. The man said, "You have paid me in full, and may Allah pay you in full."
The Prophet said,

"The best amongst you is he who pays his debts in the most handsome manner."

- After Hazrat Saaib (R.Ahad embraced Islam, he was asked concerning the utmost truth of Rasoolullah (S.A.W).
He answered,

“O People, I know more of the Prophet (S.A.W) than you, as I was His (S.A.W) business partner before his announcement of Prophethood!
He (S.A.W) was a person who remained true to his commitments, and no argument ever arose because of Him (S.A.W).” 
(Sunan Abu Dawood)

Hazrat Abu Sa’eed (R.A) reported that the Messenger of Allah (S.W.T) has said,

“The truthful and trustworthy merchant will be the Prophets, the upright and Martyrs.” (Trimizi Shareef)

-The Prophet (blessings and peace of Allah be upon him) used to enjoin traders to be righteous and honest and to give charity

The Prophet (SAW) acquired great wealth but did not hold on to it for himself, rather he (SAW) gave it to the poor, the needy, the tribes to sooth communal relations, to the ones whose hears were inclined towards Islam, for the military, for the beggars, for any who needed or any who asked. He (SAW) lived on what was sufficient, and died with only a few belongings.

- The Prophet (blessings and peace of Allah be upon him) used to give people their rights and urge others to do likewise. 

- The Prophet (blessings and peace of Allah be upon him) used to urge people to let a buyer cancel the transaction if he regrets it. 

- It was narrated that Abu Hurayrah (may Allah be pleased with him) said: The Messenger of Allah (blessings and peace of Allah be upon him) said:

“Whoever lets a Muslim off
Allah will relieve him of his distress on the Day of Resurrection.”
(Letting someone off means being easy-going and agreeing to cancel a sale or purchase; it is indicative of generosity of spirit)

- The Prophet (blessings and peace of Allah be upon him) used to urge people to give a little more when weighing. 

It was narrated that Suwayd ibn Qays said:
The Messenger of Allah (blessings and peace of Allah be upon him) saw a man who weighed things for a fee and the Messenger of Allah (blessings and peace of Allah be upon him) said to him:
Weigh and give a little more. 

- The Prophet (blessings and peace of Allah be upon him) used to enjoin people to give more time for a debtor who is in financial difficulty, or to waive the debt. 

It was narrated that Abu’l-Yasar (may Allah be pleased with him) said: The Prophet (blessings and peace of Allah be upon him) said:

Whoever waits for one who is in (financial) difficulty (to pay a debt) or waives it for him, Allah will shade him in His shade.” 





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