The Prophet Muhammad SAW's way of investing can be imitated
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| Farmed sheep (Photo: Getty Images/Fiona Goodall) |
- The Prophet Muhammad SAW is a figure who is held in high esteem in Islam. He was not only the bearer of the message of Islam, but also a perfect example for mankind.
His example radiates from noble character, wise leadership, and his role in building Islamic civilization.
As the messenger of Allah SWT, Prophet Muhammad SAW brought the revelation of the Koran and perfected religion. The teachings he brought brought peace, justice and prosperity to humans. He abolished the cruel and inhumane tradition of ignorance.
Apart from being a propagator of Islam, the Prophet Muhammad SAW was also a successful businessman. He runs a business by managing capital from investors.
Investing in the style of the Prophet Muhammad
Quoted from the book Business in Islam - A Guide to Doing Business Using the Teachings of the Prophet Muhammad SAW by Bagas Bantara, Rasulullah SAW taught the importance of investing wisely. By choosing halal investments and avoiding speculative investments.
Rasulullah ran his business by managing capital from capital providers. As explained in research on The Rasulullah's Way of Business by Badrah Uyuni, the Prophet Muhammad gained the trust of investors because of his honest and trustworthy nature.
The business skills of the Prophet Muhammad SAW have been visible since he was young. He was known as an honest and trustworthy trader, earning him the nickname "al-Amin" which means "the trusted one". His honesty and expertise in trading attracts many investors to entrust their capital to him. After running a business from the capital that had been collected, the Prophet Muhammad SAW shared the profits from his business. This is called mudharabah.
Quoted from the book Business, Economics, Insurance and Sharia Finance by Abdullah Amrin, mudharabah is a profit sharing contract between the owner of the funds and the operator who runs the business.
The owner of the funds as shohibul mall hands over the premium to the entrepreneur as mudharib. This pool of funds is managed by the operator and is used to provide mutual coverage between fund owners if losses occur between them.
Investment Type
There are several types of investments made by Rasulullah SAW. The following are several types of investment in the style of the Prophet Muhammad SAW:
1. Farm Animals
One type of investment recommended by the Prophet Muhammad was investing in livestock. This investment was made by Rasulullah SAW because he had been a sheep herder since he was 10 years old. It is known that Rasulullah SAW had a number of livestock that could be used as investments. Such as horses, donkeys, cows and sheep.
2. Land and Property
Quoting CNBC Indonesia from the Musaffa page, the Prophet Muhammad also invested in land and property. The Prophet Muhammad carried out land transactions with the Jews.
"From Nafi', from 'Abdullah bin 'Umar, that Rasulullah SAW handed over to the Jews of Khaibar the date plantations and fields of the Khaibar area, so that those who worked on them at their own expense, with an agreement, Rasulullah SAW would get half of the harvest." (HR. Bukhari no. 2329 and Muslim no. 1551).
The Prophet Muhammad SAW ran his business with full ethics and responsibility. He always adheres to Islamic principles, such as honesty, justice and transparency. The profits he obtains are not only used for personal interests, but also to help other people and develop Islam.
The story of the Prophet Muhammad SAW as a businessman and investor is a role model for Muslims in running a business. He showed that success in business is not only measured by material profits, but also by the moral and ethical values applied.
Wallahu a'lam.