Thus, one can infer that Islamic business values will play a more significant role in the business activities of Islamic countries as Islamic operations are set into practice in the finance and banking sectors. Umar once said to himself that today he would beat Abu Bakr in giving charity. To the extent that even youngsters, as young as thirteen or fourteen years of age, would come to fight alongside the Prophet (Salla Allahu alaihi wa sallam), but he (Salla Allahu alaihi wa sallam) would not permit them, he (Salla Allahu alaihi wa sallam) would permit only those who were fifteen or above. Meaning that, I compete with you in prayers or in the number of days of fasting or in giving charity or in the number of Hajj. My younger siblings tend to watch dramas or vlogs or songs,sometimes I tell them not to watch but most of the times they don’t listen to me and watch this things using my mobile / computer. That is why the Prophet Salla Allahu alaihi wa sallam warned us from competing in worldly matters, in wishing and hoping and striving for worldly matters in the sense that it would distract us from what we were really created for and that is to worship Allah Azza wa Jall. Islam is one of the religions that try to encourage people to . Will I be sinful for this? And Allah Azza wa Jall will make you succeed one another so that he would test you and he would try you and he would see what you will do. So, even the poor were competing with the rich. Abu Bakr and Umar, may Allah be pleased with them both, used to compete with each other. Businesses see competition in the form of price, quality, design, sales, location, and almost every business process. What did you leave for your family?” He replied, “Half of it.” That is, he took 50% of what he owned and gave it to Allah and the Prophet (Salla Allahu alaihi wa sallam). It isn’t essential however it is encouraged for Muslims to become entrepreneurs. He warns us of the Duniya and also does not indulge in it himself, Salla Allahu alaihi wa sallam, because he is our role model. Sorry, preview is currently unavailable. And if you have a bicycle, praise Allah and thank Him because others don’t even have a bicycle and they have to walk. To spend in the Cause of Allah Azza wa Jall while you are healthy and alive before your illness and before your death, this is highly recommended and encouraged. And the Prophet Salla Allahu alaihi wa sallam gave them a competition in this. He said that whoever goes in the first hour, it would be as if he has given away a camel in charity. Otherwise, don’t compete with others. competition at all in monopolies, to limited competition in oligopolies, t o a significant degree of competition in the remaining industries. And I am afraid that you will compete in this Duniya like they have competed and that this would destroy you like it had destroyed them.” And one would ask, “Subhanallah! 2- Will you please name any Islamic institutions / bank which can provide us loan as " Karz-e-Hassna" or can any suck bank provide us facility / services for our import & Export business? Allah has created death and life to test us that, who among us is the best in deeds, not the most in deeds. It is a temporary phase and the smart one is the one who is guided by Allah to do good deeds and to reap the fruit of his work in Paradise. The International Islamic University is a unique institution of higher learning which integrates the two parallel streams of religious and other education systems prevailing in the Muslim world. The rules of the game are not so different, but the culture is, and few Westerners understand it. Competition exists in every market. For example marriage, business, jobs, exams, good health To get the best in this world and the […] My wife owes me the Mahr of …. Briefly, competitions without awards are allowed as long as they do not violate any Islamic principles. The same applies to all forms of monopolistic competition (price, goods, etc). Islam appreciated the fair business and Allah says in Qur’an “Stand out firmly for justice, as witnesses to God, even though it is against yourselves, or your parents, or your kin, are the rich or poor.” (Qur’an 4:135).The banking sector is a rising sector which adjust The Prophet Salla Allahu alaihi wa sallam said to ibn Umar (his brother-in-law and one of his great Companions), “Be in this life as if you are a stranger or a passer-by.” So we should not live in this Duniya as if we are here to stay because we are not. And this is why the Companions {may Allah be pleased with them} used to compete with one another. The Prophet Salla Allahu alaihi wa sallam said, “By Allah, I do not fear poverty upon you. (2011). Also, in the Hadeeth of Abdullah ibn Masood { may Allah be pleased with him} we can see how the Prophet Salla Allahu alaihi wa sallam never competed over material things. My wife owes me the Mahr of …. And even if you are bed ridden, be always grateful to Allah Azza wa Jall that you have your sanity and that you have your brains and that you praise Allah and thank Him and be grateful to Him. It supplements conventional economic analysis by exploring the religious and moral aspects of economic life. The Prophet (Salla Allahu alaihi wa sallam) said, “Race against patches of dark night, calamities that are as dark as the night, where a believer wakes up as a Mu’min (believer) and by the end of the day he becomes a Ka’afir (disbeliever).”. So, we understand from this that we must accompany our competing with a sincere intention for the Sake of Allah. means without profit / Interest. But if they were requested to be a guest on shows like “America’s Got Talent” or “American Idol” to sing a song or to do something else, they would love to compete in that, Subhanallah! ”Allah (Alone) is Sufficient for us, and (He is) the Best Disposer of affairs. Hashim International Islamic University Malaysia Abstract This article attempts to analyse the relationship between competitions, awards and gambling. In this life, I am merely similar to a rider who saw a tree while on his journey, dismounted and took a short nap in the shade of the tree and then left it.” So the tree is not our objective, this life is not a Muslim’s objective. Islamic economics aims at analysing, interpreting, and resolving economic problems in accordance with the principles of Islam. Islamic Perspective There are so many in the Islamic literature relating to monopolies, and nearly all agree that monopolistic practices are strictly prohibited. ISLAMIC ENTREPRENEURSHIP Entrepreneurship is an integral parts of Islamic religion The Muslim entrepreneurs are „khalifah‟ and have the responsibilities to develop prosperity and sees business as part of „ibadah‟ or good deed. Because they pray like we pray, and they fast like we fast, but they have access to wealth with which they can offer Hajj with, they can offer Umrah with, they can offer Jihaad with and they can give it in charity more than what we can give.” So the Prophet (Salla Allahu alaihi wa sallam) instructed them to say after every Fard prayer the supplication: Subhanallah, 33 times; Alhamdulillah, 33 times; Allah hu Akbar, 33 times and Laa ‘ilaaha ‘illallaahu wahdahu laa shareeka lahu, lahul-mulku wa lahul-hamdu wa Huwa ‘alaa kulli shay’in Qadeer, to complete the 100. To aspire ; aspire after that Prophet Salla Allahu alaihi wa sallam said, “ do you that! Kppu VERDICT no Strategy Formulation ” is coping with competition ” Allah ( )... 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