Monday, March 2, 2015

The theory of consumer behavior (23)

The concept of wasatiyyah or moderation is encouraged and served as guidance for Muslim in spending money.
Farhad Normani and Ali Rahnema also have similar idea with their statement:
“Muslims are commanded to base their consumption on strict adherence to the practice of moderation or iqtisade”
Farhad Nomani, 1994: 85.

The importance of being moderate or wasatiyyah in spending money is explicitly mentioned in Quran.
“Do not make your hand fastened to your neck nor stretch it out to its outmost reach, so that you become blameworthy and destitute”
(Holly Quran: 17:29).
There are two important aspects that have been laid down by Islamic jurisprudence in order to guide Muslim to decide what to be consumed now and in the future.

to be continued...

Source: Islamic Science University of Malaysia

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