An Overview of the Islamic Trade System and its Various Types

Abstract

Islam is a religion that guides man in every aspect of his life, whether religious, social, moral, political or economic. Islam is the same religion that has given man the honor of being the best of creation and has given him enough intelligence to contemplate the heavens and the earth and find resources for himself and earn lawful livelihood from them. One of the means of lawful livelihood is trade, which is the profession of the Prophet (PBUH).The Prophet (PBUH) remained engaged in this profession for 12 years, making it his means of livelihood and encouraging people to follow it. The Companions (may Allah be pleased with them) also adopted the same profession. Hazrat Khadija (may Allah be pleased with her) also followed the same profession. The Islamic system of trade is one that has great importance in the Quran and Hadith and is sufficient to meet human economic needs. If it is done in accordance with the principles of sincerity, truth and honesty, then Allah Himself blesses it because Allah is the Provider of sustenance.Keywords: Prophet (PBUH), Religion, Profession, Economic needs, Hazrat Khadija, Honesty, Trade.