Shaykh Sohail Hanif explained the rules of trade in Islam, emphasizing their importance and connection to fairness and mutual respect. He stressed that anyone involved in trade must learn its rules, as it is an obligation in Islam. The Prophet Muhammad (peace be upon him) said, “Whoever Allah wants good for, He gives them understanding / fiqh.” This highlights the value of seeking knowledge, especially about matters that affect our daily lives, like trade. Key Principles of Trade in Islam: 1. Knowledge is Essential: Shaykh Sohail explained that learning the rules of trade ensures that our transactions align with Islamic guidance. These rules benefit us in both this life and the next. It would be a great regret to live one’s life without understanding and applying this guidance. 2. The Quranic Foundation: The Quran states: “Do not consume one another’s wealth unjustly, but only [in lawful] trade by mutual consent.” (Surah An-Nisa 4: 29). This verse makes it clear that property is sacred. The only way to rightfully acquire another person’s wealth is through trade where both parties are happy and satisfied. 3. Mutual Satisfaction in Trade: Trade must be based on fairness. Both parties should leave the transaction feeling content that it was a fair exchange. Any form of exploitation, bullying, or forcing prices is forbidden. A Hadith of the Prophet (peace and blessings be upon him) emphasizes that valid trade occurs when both parties are pleased with the deal. 4. Sanctity of Wealth and Life: Shaykh Sohail highlighted the Quranic command to respect both wealth and life. Just as human life is sacred, so is a person’s property. Violating either is a serious wrongdoing. 5. Rules to Avoid Disputes: You cannot sell something you don’t own. You cannot sell something unclear, like an undefined product or an unstated price. Every transaction must be clear and transparent to prevent disputes. These rules are designed to protect trust and harmony in society. 6. Prohibited and Invalid Transactions: Muslims cannot sell items like wine, as they are not allowed to use or benefit from them under Islamic law. However, Shaykh Sohail explained that non-Muslims are permitted to trade such items within their legal traditions. This reflects respect for different religious laws. 7. Avoiding Market Exploitation / Manipulation: Shaykh Sohail described practices that Islam forbids, such as: Intercepting rural traders to buy their goods before they reach the market, taking advantage of their lack of knowledge. Creating monopolies or manipulating prices. These practices harm the fairness of the market and take advantage of others. The Purpose of Trade Rules Shaykh Sohail emphasized that trade is a sacred act. It is a way to build relationships of respect and fairness in society. Any practice that undermines this, like exploitation or unfair dealings, is against Islamic teachings. The goal is to ensure justice and harmony in all transactions, reflecting the moral values of Islam. ~ Shaykh Sohail Hanif