Azah Atikah Anwar Batcha

Research Scholar, Universiti Teknologi Malaysia (UTM)

When a Muslim earns or obtains money, it is a fact that the money they receive is part of their deen. Being part of a Muslim’s life should encourage them to swiftly practice the right treatment and careful usage of money, since it reveals their relationship with God. Money is just a medium; thus, when a person obtains it, it brings out their true color or character as a human being through the treatment and usage of the money entrusted to them.

Therefore, it is important for Muslims not to be indifferent about how they obtain their money: does it involve someone being harmed? Riba? Deception? Injustice? Dishonesty? Do they understand the money owed or entrusted to them? Are they earning and spending it responsibly? Can money be hoarded?

Indeed, there is no doubt that some Muslims are just like King Midas, where everything they touch or venture into turns into gold (profits). Even without imitating King Midas, the above-mentioned questions are still worth considering.

The next most important question after the above-mentioned inquiries is whether they think that being a Muslim requires them to give away their money as Sadaqah earnestly in the quest for bliss and paradise. Can Muslims decide whether they want to give out zakah or not? Do they always have to donate? Does a reward count if donations or zakah were given for tax-deduction reasons, social recognition, or business reputation? Is there any importance in the relationship between the outward act of giving and the inward intention behind it? Can an action be financially beneficial and spiritually meaningful at the same time?

It is crucial to seek the answers to these questions because the way Muslims deal with money is not separate from their religious life and moral compass. This becomes even more critical when we look at cases of financial misconduct, corruption, fraud, and the misuse of entrusted wealth. In many countries, a fundamental understanding of the root causes of this problem remains lacking, hindering effective prevention.

This can also be evidenced by their country’s financial crime index, which is rather moderate or high. Another similar example is the use of riba-based loans out of necessity (daruriyyah), particularly for first-time homebuyers. Muslims should, nevertheless, explore the available options and seek other viable solutions to this matter.

For Muslims, money should not be merely something to accumulate; there are responsibilities attached to it. Zakah is not just a voluntary donation that a Muslim can choose to give when convenient—it is an obligation. Sadaqah, on the other hand, is voluntary, but it reflects a willingness to use one’s wealth for the benefit of others.

Regarding the question of handling money that belongs to others, a Muslim may hold money in trust, such as administering charitable funds, inheriting wealth, managing an estate, or being responsible for distributing the property of a deceased person.

This is where Islamic institutions—such as Islamic banks, Islamic insurance providers, Islamic estate planning services, Islamic mutual funds, investment companies, or specialized non-banking institutions like the Hajj Pilgrims Fund Board or Public Trustees—play pertinent roles. These institutions deal with not just administrative or legal matters, but also play a role in protecting the rights and trusts entrusted to them. For example, when a person dies, their wealth does not simply become available for the surviving family members to divide however they wish (unless agreed upon by all members, where permitted).

There are rights and responsibilities attached to those in charge of the estate, including settling debts, executing legitimate bequests, and distributing inheritance according to faraid. Their responsibilities go beyond simply keeping accurate records; these roles extend beyond administrative and legal matters, as they also involve the preservation of trust (amanah).

Money, therefore, becomes much more than a medium of exchange. Although Islamic institutions may provide the necessary structures, regulations, and services for managing wealth, it is ultimately human beings who administer them, exercise judgment, and fulfil the responsibilities entrusted to them. Their dealings with money are not merely economic activities but also carry implications for their accountability before God. This is precisely why Muslims should not approach money with indifference, but should be conscious of the religious, moral, and ethical responsibilities involved.