How to Make Halal Income

Earning halal money is a religious obligation. Halal money and earnings that come from good source is a form of good deeds for which people will be rewarded for in the Hereafter.

One can make halal money by earning wealth that excludes Riba, Gharar & Maysir. Riba means interest, increase, addition or excess.

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As for halal money, it has to be free from riba, and there are two forms of riba. One which is the increase or growth due to the postponement and refers to a stipulated increase over the loan which a debtor agrees to pay to his creditor in relation to a specific period of time.

Another is when that takes place when a commodity of the same thing is exchanged for an unequal amount of the same commodity or when the amounts are equal but one of the counter value is delivered later. It essentially involves unjust gains in trades or business i.e. exploitation. Garar is sale contract which is attractive to the purchaser in its form but unknown and ambiguous in its substance in which it may lead to unknown results.

One can make halal money by trading. There are many forms in which this can be done. Buying & selling is the main form, which involves contract between two parties and the exchange of goods between them. Musyarakah is a contract between two or more parties by establishing a joint commercial enterprise and contributing the capital. Profits and losses are shared between the partners according to an agreed proportion ratio & capital contribution ratio, respectively. Murabahah is a contract where the seller reveals the actual cost of the goods to the buyer and both parties agree on adding a particular profit margin.

One can also gain wealth through inheritance. A person is entitled to make his own will for 1/3 of his wealth or property to the inner family. The balance of 2/3 of the wealth will be distributed according to Sariah law. Once eligible for this inheritance it is lawful and halal income money. Moreover, in order to earn Halal income with their job, a person should also make sure that they are not in any way associated and a part of any activities which involve the proposal or acceptance of bribery.

If a person wants to earn halal income from their job, it is necessary for them to make sure that they do not work for an institution which earns money for something not deserved. The reason why that is so is the fact that the money which an establishment earns without actually doing anything is Haram. Furthermore, if one is constantly worshiping Allah SWT, Allah will remove ones poverty and give us richness in Imaan. Halal wealth has a lot of benefits because it will be blessed by Allah SWT and bring peace of mind and help to have a clear conscience. Halal income is regarded as charity even when spent on family members.

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