Islamic entrepreneurship: Important requirement | By Ghulam Yaseen Nizami


Islamic entrepreneurship: Important requirement

ISLAM is a complete manual for life. On the one hand it indicates the beliefs and acts of worship and on the other hand it provides complete instructions in the field of affairs. In the field of affairs, the field of economics is of great importance, so Islam did not ignore this field, but its basic concepts and principles in economics are different from other economic systems. It shows the way to moderation by rejecting inflation. In the Holy Qur’an, Allah Almighty said: And indeed we have given you dominion over the earth and we have created for you in it the means of sustenance. The Holy Prophet (PBUH) said: Seeking halal sustenance is obligatory after worship. Similarly, there is a tradition that the Holy Prophet (PBUH) was asked: O Messenger of Allah! Which earning is the purest?

There is a great blessing in trade, so every Muslim should try it in this era, otherwise false forces will advance in this field and it will be harmful for Islam and Muslims. With the establishment of the Islamic state in Medina, the Holy Prophet (PBUH) also showed by implementing the economic system given by him, which was such a strong and stable system that even today its strength is established with the same intensity. It is permanent. If a state adopts it even today, that state can achieve not only economic development but also economic stability like Riasat-e-Medina. And the first thing that needs to be kept in mind regarding the provision of sustenance is that the One who provides sustenance to all creatures belongs to Allah alone. The following verse of the Holy Qur’an illustrates this fact: And there is no living thing that moves on earth except that its sustenance is under the care of Allah.

Islam gives every individual the right to earn his livelihood within the limits of the Sharia, but the concept of this freedom is bound with responsibility. Everyone can differentiate between halal and haram in their profession. Islam is neither against private property nor forbids profit making. The ideal of Islam is economic justice. When the society indulges in luxuries and does not spend wastefully, but spends its extra wealth in the support of the poor and deprived, then a hardworking, selfless and honest society will always increase in wealth.

According to Islam, poverty is just a social disease, but not a disease that is difficult to get rid of, but the way common physical diseases are treated with appropriate measures. If the nation’s industrialists, investors and other talented businessmen plan to raise the nation’s backward people and resource-deprived youth higher together with them and at the same time adopt the attitude of justice and kindness, then this behaviour of the nation will also provide solutions to many problems and a society will also exist which will be built on human and moral values. Its effects will also affect the general society of the country.

In the current century, it has been proven that the nations that are economically strong will rule the world and the world powers have also understood that the world can now be dominated not by iron weapons, but by economic weapons. And in the coming years, the economic development in the world will be considered as the standard of development.

For this purpose, entrepreneurship education should be provided to develop business knowledge, skills and motivation. There is very little awareness about the resources of entrepreneurship, so there is a need to implement the Muslim Chamber of Commerce and Industries at the country level and create an employer association. Entrepreneurship training and guidance institutes should be set up to help prepare business project report, develop business and provide free consultancy services and market the product. Conducting various courses, seminars, workshops, specific long-term and short-term business development training programs should be made possible. For economic improvement and stability, large factories, valuable machines and provision of large-scale business and services are necessary, for which a lot of capital is required, but these are not indispensable conditions for them to make a lot of investment. There are hundreds of products that require relatively little capital. Rather, these products are better manufactured in small factories.

Sadly, most people today do not enter into any organized business enterprise due to lack of skills, productivity, frustration and fear of failure, risk of financial loss, excuse of limited resources, society’s tendency towards jobs and high risk. They are not able to maintain and manage it. The result is that the nation is becoming a victim of economic decline, while the leadership ability, protection from risks, prudence in buying and selling, business understanding, the manner of conversation, the courtesy to convince one’s point with arguments, the ability to convince one’s point with arguments, the ability to protect oneself from risks and the ability to convince people from different places. There is an opportunity to know about tourism and its history and newspaper and to know the nature and psychology of people.

Every student wants to become a businessman, but a few of them succeed, because very few students are aware of the problems faced in new business. They are unaware of the rules and regulations for starting a new business. The result is that many untrained students and youths end up in the list of unemployed.

— The writer is contributing columnist, based in Islamabad.

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