Islam advises every Muslim to follow a moderate way of life. Every Muslim entrepreneur must follow many internal and spiritual rules. Issues such as a sense of guilt and competence are important in the self-development of the Muslim entrepreneur. The fear of failure when the Muslim entrepreneur combines various qualities and characteristics makes it possible to distinguish him from many other entrepreneurs. If an entrepreneur follows these characteristics and runs the business with trust in Allah, success will follow. In the light of the Qur’an and Hadith, some essential characteristics for a Muslim entrepreneur are highlighted:

1. To be a believer

Belief in Allah is a must for all Muslim entrepreneurs. One should sincerely trust in the great Lord. Allah Ta’ala has mentioned this in the Holy Qur’an: ‘O believers! Shall I find you a business that will save you from a painful punishment? And that is – you will believe in Allah and His Messenger and fight in the way of Allah with your wealth and life. This is good for you if you know!’

According to this divine order, every Muslim entrepreneur must have faith in Allah and seek wealth in a halal way according to the guidance of Allah and His Messenger to improve his condition. The truly successful entrepreneur is the one who earns a profit by doing business with faith and trust in Allah.

The unlimited importance of faith can be understood from various narrations in hadith. Rasulullah Sallallahu Alaihi Wasallam said:

‘No slave can become a believer until he believes in four things. The four subjects are: 1. I testify that there is no god but Allah and I am the Messenger of Allah. He sent me with truth. 2. Death can happen at any time – just keep faith. 3. Belief in resurrection after death. 4. Believing in destiny and fate.’

2. Giving Halal-Haram priority

Taqwa is the most important thing in human life, and an important aspect of Taqwa is to follow Halal and Haram. This boundary provided by Islam prevents a Muslim entrepreneur from selling prohibited goods such as alcohol, drugs, and pork, while allowing freedom to engage in the trade of halal goods. Allah Ta’ala has mentioned in the Holy Qur’an: ‘The sustenance that Allah has given you; Eat from it what is lawful and pure and fear Allah – in whom you all believe.’

Allah Ta’ala has further indicated: ‘People, eat what is lawful on the earth and do not follow the footsteps of Satan. Surely he is your open enemy.’

Rasulullah Sallallahu Alaihi Wasallam said: ‘Seeking stable livelihood is a special duty after the prescribed duties.’ He also said, ‘Halal earning is obligatory on all Muslims.’

Regarding the virtues of halal and righteous earnings, Rasulullah Sallallahu Alaihi Wasallam said, ‘Whoever eats halal sustenance earned with his own hands will cross Pulsirat with the speed of lightning and Allah will look upon him with mercy and never punish him.’

3. Don’t waste

Any kind of waste is forbidden in Islam. Enjoying all kinds of blessings without waste is encouraged. Wasting and extravagance are both reprehensible acts in Islam. Allah has mentioned in the Holy Qur’an: ‘When it bears fruit, eat its fruit and pay its due (Zakat) on the day of harvest. And do not waste. Surely Allah does not love the wasteful.’

Allah has also indicated: ‘You shall not squander in any way; surely the wasters are the brothers of Satan.’

Allah Ta’ala further indicated: ‘And eat and drink, but do not waste. Surely He does not like the wasteful.’

Rasulullah Sallallahu Alaihi Wasallam instructed his followers to avoid overusing water even when performing ablution by the side of a flowing river. He said to a companion: ‘Why are you wasting it?’ Saad asked, ‘What is wasted in ablution?’ Rasulullah Sallallahu Alaihi Wasallam replied, ‘Yes, even if you sit by a flowing river and use extra water, it is a waste.’ He also said, ‘Eat, drink, give alms, and clothe yourselves, but do not be haughty and wasteful.’

4. Practice of moral values

Moral values are one of the basic teachings of Islam. Islam provides important guidance in creating and developing moral qualities and values among people. In various verses of the Holy Qur’an, Allah Ta’ala and Rasulullah Sallallahu Alaihi Wasallam praised entrepreneurship and instructed the practice of ethical values in enterprise or business. Allah Ta’ala has said: ‘You are the best nation! You have appeared for the welfare of mankind. You shall enjoin good deeds and forbid evil deeds.’

Islam declares it necessary to avoid all unethical and unwholesome activities in business. It also prohibits things like riba (usury). Allah said: ‘Allah has made business lawful and interest forbidden.’

Rasulullah Sallallahu Alaihi Wasallam said, ‘Beneficence is religion.’ He also said, ‘None of you truly believes until he loves for his brother what he loves for himself.’

5. Faithfulness

Loyalty in business means trustworthiness. Being completely sure and fearless about not betraying or deceiving means faithfulness. Loyalty and trustworthiness are essential qualities for achieving business success. Allah Ta’ala has said in the Holy Qur’an: ‘O believers! Do not knowingly betray Allah and His Messenger, and do not betray your trusts.’

Allah Ta’ala has further mentioned: ‘(Verily those believers are successful) who keep their trust and promise.’

Narrated by Abu Huraira Radiyallahu Anhu, Rasulullah Sallallahu Alaihi Wasallam said: ‘The sign or identity of a hypocrite is three: 1. When he speaks, he lies. 2. When he promises, he breaks it. 3. When entrusted with something, he betrays the trust.’

On the authority of Abu Saeed Radiyallahu Anhu, Rasulullah Sallallahu Alaihi Wasallam said: ‘A truthful and faithful merchant will be with the Prophet, the Siddiq, and the martyrs on the Day of Resurrection.’

6. Donate to charity

Zakat is a core aspect of Islam’s system for equitable wealth distribution. The beauty of Islam’s way of life is its sustainable approach to poverty alleviation through zakat collection from the rich. Allah has mentioned in the Holy Qur’an: ‘You pray regularly, pay zakat, give good debt to Allah. Whatever you send for your welfare, you will receive the best reward from Allah.’

On the authority of Abdullah Ibn Umar Radiyallahu Anhu, Rasulullah Sallallahu Alaihi Wasallam said: ‘Islam is founded on five pillars: 1. Testifying that there is no deity but Allah and Muhammad is His Messenger. 2. Establishing prayer. 3. Paying zakat. 4. Performing Hajj. 5. Fasting during Ramadan.’

In addition to zakat, Islam encourages charity for various social and human welfare purposes. Allah has mentioned: ‘You will never attain righteousness until you spend from what you love. Allah is aware of whatever you spend.’

On the authority of Abu Huraira Radiyallahu Anhu, Rasulullah Sallallahu Alaihi Wasallam said: ‘The upper (giving) hand is better than the lower (receiving) hand.’

He also said: ‘When the son of Adam dies, all his deeds end except three: 1. Continuous charity. 2. Knowledge that benefits others. 3. A righteous child who prays for him.’

7. Enlightenment

The importance of knowledge in Islam is immense. The first revelation to Allah’s Messenger in the cave of Hira emphasized the significance of learning: ‘Read, in the name of your Lord, who created man from a clot. Read, and your Lord is the Most Generous, who taught by the pen, taught man what he did not know.’

Rasulullah Sallallahu Alaihi Wasallam emphasized the acquisition of knowledge, saying: ‘Seeking knowledge is obligatory for every Muslim man and woman.’

He also said: ‘Convey from me, even if it is a single verse.’

8. Responsibility towards society and environment

Islam commands people to contribute to the welfare of society and the environment. A person will be considered successful in business only when society benefits and the environment is protected. Allah mentioned in the Qur’an: ‘Seek the abode of the Hereafter with what Allah has given you, but do not forget your share of this world. Be kind, as Allah has been kind to you, and do not cause mischief in the land, for Allah does not love those who cause trouble.’

On the authority of Abdullah Ibn Amr Radiyallahu Anhu, Rasulullah Sallallahu Alaihi Wasallam said: ‘The Merciful One shows mercy to those who are merciful. Be merciful to those on the earth, and He who is in the heavens will show mercy to you.’

Rasulullah Sallallahu Alaihi Wasallam’s entire life was spent contributing to society and preserving the environment. Therefore, a Muslim businessman will only be successful when he contributes to the betterment of society and the environment.