ISLAMIC VIEW ON ENTREPRENUERSHIP AND LOAN SERVICES

Islam has given detailed regulations for our economic life, to be balanced and fair. Muslims are to recognize that wealth, earnings, and material goods are the property of God, and we are merely His trustees.

Let’s us talk what a business person can do in his business. Whether it’s a big or small businesses, but it still one source of the Income.

I can’t deny that, when someone has entered a business, definitely his or her life changes. It’s normal in business, sometimes you are up and sometimes you are down. Same applies in Islam, giving us courage to search for rezeki by doing a business. In fact, it is stated clearly in Hadiths that 9 out from 10 incomes is in business.

[62:10]Then once the Salāh is over, disperse in the land, and seek the grace of Allah, and remember Allah abundantly, so that you may be successful.

What we can learn form this verse is that: Allah does not obstruct us in searching as many incomes as we want especially in business but we should not forget our responsibilities as followers.

In Islam, we are very concerned in actions permitted by Shariah law or forbidden by religious law and (Halal and Haram). Example: Business in Islam is considered as an action that was permitted by syariah law while interest is consider as forbidden by religious law.

However, doing a business, whether in a context of Islamic or in the method of execution is actually the same. However the difference is in the ethics involved in practice.

The basic of Islamic principle in the context of business is that we don’t focus on the money and the net profit but we see the value behind the business that we contribute to society.One of the challenges of doing a business is taking a risk so the business people have to be ready to face this!

Some people might say: In this life, if we are not brave enough to take up a loan, we might not get rich. After some thought, I partly agree on this but after thinking wisely I find it is stupid. Cos if believe in this thus we will always falls his trap. So who’s the trapper? Yes you are right, the trapper is the financial institution. They are like a hunter who is searching for a deer.

In Islam, they do recognize people who give and take up a loan. In fact, our prophets, Rasulullah S.A.W have said that: people who give loans is more noble that a person who take up a loan.

Why is it so?? Because people who are taking up a loan, is a person who are really don’t have anything but nowadays, the majority of people who is seeking up a loan is a person who actually is capable. Either they are workers that have a salary or their business is going to be successful.

Thus if we think we can afford it, why must we be in debt? This is a question that I been asking myself, if we observe this people, we can see that they are influence in two things:

1) Desire 2) Don’t have patience. Let me explain it.

1) Desire: We easily get influenced when we see new things; we want to have more income and etc. One of the solution is : keep some money and slowly you will get whatever you want using your own savings.

2) Don’t have patience: cos we want to have something very fast, want to be rich in just a minute thus to do so by taking up a loan. Today, we can take up a loan up to 6x from our salary. Easy right??? They forget when take up a loan is so easy but want to paying back is difficult.

The negative part of taking up a loan is: you always feel that you can afford a lot of things. Without you notice it, you get into a lot of debt!! Then problems will start, when you can’t pay back, thus you will declare as a bankrupt and your marriage will get affected and because of this you will have a broken family.

Actually by right, this all is an evil game; this is a easy way for them to distract us from Allah. Everyday we were born with a desire. Desires just trap us than we will act aggressively, more aggressive than our brain and our faith. At the end, we will defeat by desire.Our prophet’s advice: If we want to be dedicated in worship, we have to make it light in front and behind”

What does that mean?? Make it light in front, it means to less eat while light in behind means: to have a less debt.

A successful key to avoid from being debt with people is to think twice and thrice on what purpose we taking up this loan and ask yourself if you really can pay back on time so that we wont carry this heavy burden for so long.

Another more powerful strategy is by praying. Rasulullah have taught one of the sahabat, Abu Umamah when he come to Him and inform him that he got many debts until he scared to come back home thus he would like to stay at the mosque, thus the prophet teaches him the best way to waive the debt is not by running away but seeking Allah helps by saying this:-

{Allahumma inna a'uzubika minalhammi walhazan. Wa a'uzubika minal'ajzi walkasal. Wa a'uzubika mina jubni wabukhl. Wa a'uzubika mina ghalabatiddaini waqahrirrijal”

“O’ Allah, protect me from poverty and sadness; I seek your protection from despair and laziness. I seek your protection from cowardice and meanness and I seek your protection from the burden of debts and the cruelty of human beings.”

After practice this du’a, Abu Ummaah found a way to solve his problems and slowly without realizing it he have paid pay all his debt.

Always practice this doa, after your prayers, read it with a humble and sincere to seek Allah helps, and with Allah helps, one day you will feel that your life is more at ease with no debt and also with no financial burden.

Wallahu A’lam