Trade by Mutual Consent: Five Principles of Halal Business

Why it matters

The meaning of the verse: believers, do not consume one another’s wealth unjustly, but only through trade by mutual consent. (Quran 4:29)

The five principles

1. Consent: both sides understand and agree.
2. Honesty: describe the product and its flaws accurately.
3. Fairness: no exploitation of need or ignorance.
4. Lawful earnings: avoid interest and prohibited goods and services.
5. Documentation: write agreements down.

Checklist

• Is the product or service lawful?
• Are price, delivery time and terms clear?
• Is there a written receipt or contract?
• Do you pay staff and suppliers on time?

This is general education, not financial or legal advice. Consult a qualified professional for your situation.

Sources

1. Quran 4:29 via Quran.com