Saving up wealth


Does Islam forbid saving up wealth?
source: http://www.islam- qa.com/en/ ref/96115/ hoard

Praise be to Allaah.

Islam does not forbid saving up wealth in all cases, rather what is
forbidden and what a stern warning is issued against is not paying
zakaah on one’s wealth. But if a person pays zakaah, he is not
included in the condemnation.

 

Allaah says (interpretation of the meaning):

 
“And those who hoard up gold and silver (Al‑ Kanz: the money,the Zakaah of which has not been paid) and spend them not in the way of Allaah, announce unto them a painful torment” [al-Tawbah 9:34]

Abu Dawood (1564) narrated from Umm Salamah (may Allaah be pleased with him) that the Prophet (peace and blessings of Allaah be upon him) said: “That which reaches the level where zakaah is to be paid and its zakaah is paid, is not kanz (hoarded wealth).” Classed as
hasan by al-Albaani in Saheeh Abi Dawood.

 

Al-Bukhaari (1404) narrated that Khaalid ibn Aslam said: We went out with `Abd-Allaah ibn `Umar (may Allaah be pleased with him) and a Bedouin said: Tell me about the words of Allaah, “And those who hoard up gold and silver (Al‑Kanz: the money, the Zakaah of which has not been paid) and spend them not in the way of Allaah”. Ibn `Umar (may Allaah be pleased with him) said: The one who hoards them and does not pay zakaah on them, woe to him. That was before zakaah was revealed; when it was revealed, Allaah made it a purification of wealth. Maalik narrated in al-Muwatta’ (595) that `Abd-Allaah ibn Dinar said: I heard `Abd-Allaah ibn `Umar when he was asked about kanz – what is it? He said: It is wealth on which zakaah is not paid.

 

Ibn Katheer (may Allaah have mercy on him) said commenting on the
verse in al-Tawbah: With regard to kanz, Maalik said, narrating
from `Abd-Allaah ibn Dinar from Ibn `Umar: It is wealth on which
zakaah is not paid. Al-Thawri and others narrated from `Ubayd-Allaah from Naafi’ that Ibn `Umar said: That on which zakaah is paid is not kanz, even if it is buried beneath seven earths, but that which is not buried and on which zakaah is not paid is kanz. This was narrated from Ibn `Abbaas, Jaabir, and Abu Hurayrah in both mawqoof and marfoo’ reports. `Umar ibn al-Khattaab said something similar: Any wealth on which zakaah is paid is not kanz, even if it is buried in the earth. And any wealth on which zakaah is not paid is kanz with which its owner will be branded (on the Day of Resurrection) , even if it is on the face of the earth. End quote.

 

Thus it is clear that the kind of wealth that is blameworthy is that
on which zakaah is not paid. As for that which is beneath the
threshold (nisaab), or which reaches the threshold and zakaah is paid
on it, it is not kanz.

 

Thus it is clear that Islam does not forbid storing up wealth, rather
it forbids not paying zakaah on it.

 

And Allaah knows best.

Islam Q&A

 

Advertisements

3 Responses to Saving up wealth

  1. Abu Ahmad says:

    Nice and helpful article with supporting hadith and ayas, however, if I may add, “storing wealth” is not recommended by means storing without investing it. Zakat will eat up your wealth if it is not circulated into the economy to benefit the whole society. Thus Islam encourages investments and florishing society.

  2. How are the pastors now being paid?

    From love offerings or the tithe?

    People who accept any portion of the tithe are not allowed to own any tangible property, such as a home, real estate.. according to the Bible too

    http://anyonecare.wordpress.com/2008/05/29/the-ttihe/

  3. Sakina & Sara says:

    Some Imams (men who lead the prayers and who may give sermons on Fridays) are paid by the government of the country in which they work such as Saudi Arabia and Kuwait. However other countries like USA or Lebanon where local public mosques which are not owned by a private person, have a collection box in which people donate money for the upkeep and maintenance of the mosque and fees for the Imam. If it is privately owned, the owner pays the fees. While Muslims do pay a tith, or Zakat, this is seperate from the donations mentioned above. The Zakat is a yearly payment made on the profits and given towards the help of the poor, and this money is not to be used towards paying the Imam.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: