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FINANCE A L W A S A T ¿ I s s u e 8

FINANCE

ALWASAT ¿ Issue 85 ¿ Rabih II 1439 ¿ December 2017 / January 2018 ﻲﻧﺎﺜﻟﺍ ﻥﻮﻧﺎﻛ / 2017 ﻝﻭﻷﺍ ﻥﻮﻧﺎﻛ ¿ ـﻫ 1439 ﻲﻧﺎﺜﻟﺍ ﻊﻴﺑﺭ ¿ 85 ﺩﺪﻌﻟﺍ ¿ ﻂﺳﻮﻟﺍ

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ﻊﻴﺑﺭ ¿ 85 ﺩﺪﻌﻟﺍ ¿ ﻂﺳﻮﻟﺍ 58 Islamic Business leadership Almir Colan Melbourne When the

Islamic Business

leadership

Almir Colan Melbourne

When the early Muslims migrated from Makkah to Madina they did so because they were faced with a social and economic boycott. Isolated and with a very uncertain future the Muslim community, had to make a move. Upon their arrival to Madina, it was obvious that if they were to survive they had to build a strong community that is able to take care of itself. The Prophet (may peace and blessings of Allah be upon Him) after building a mosque, focused on building a market in Madina which became a commercial centre for the new Islamic economy. Imam Bukhari in the chapter on business transactions included a migration story of Abd al- Rahman ibn ‘Awf (RA). In this story, we learn an important lesson about the attitude of a business leader who refused to trade independence for charity by famously asking “Show me the Market”. In this narration, Imam Bukhari shows us the mindset of a business leader

Imam Bukhari shows us the mindset of a business leader who chooses to work with his

who chooses to work with

his own hands and ultimately preserves his dignity and honour. Prophet (SAWS) built the system and together with entrepreneurs like Abd al- Rahman ibn ‘Awf (RA) made

imagine Uthman (RA) having this level of success without careful planning? Without

very high and ambitious goals? Do we think he randomly and consistently made this amount of wealth without seriously understanding what he was doing? No. Business leadership

is a system and it has its rules.

it

a source of strength for the

Prophet (SAWS) inspired

challenges of their time. Today,

whole community and state. We often hear stories of companions like Uthman (RA) who donated entire caravans loaded with goods and food, but we rarely ask how did Uthman (RA) actually manage

to earn such massive amounts of wealth? How was he able to consistently donate such

entrepreneurs and business masters like Abd al-Rahman ibn ‘Awf (RA) and Uthman Ibn Affan (RA) to engage and find solutions for the most difficult

we also have a choice to make. Either we let our community end up in the situation like we once were in Makkah when we

a

large amount of money for

were lower hand and at the

a

strong community, like that

different causes? At one point after he donated camels,

mercy of others, or, we build

horses and gold for the army

in

Madinah, that is able to take

the Prophet (SAWS) was so impressed that He (SAWS) said that from today nothing will harm Uthman (RA). While these are amazing stories of giving and show a true mastery over money, one has to wonder at what level was Uthman (RA) conducting his business dealings to be able to earn this amount of wealth? Can you

care of itself and can contribute to society by becoming giving, upper hand! Most of the Muslims in Australia understand that Islam is not a theory but a practical implementation. For this reason, Islam is referred to as a ‘Deen’ or a way of living life. When we think about things we need from

way of living life. When we think about things we need from entertainment, spirituality, health, business,

entertainment, spirituality, health, business, education, banking and so on, we want everything to be consistent

with Islamic values. If the best

of us do not find solutions then someone else will do it and we might not like what they find. Islamic leadership comes from a sense of purpose and direction that stems from the root of our beliefs. It is a trust (Amanah) that is centred around Taqwa or consciousness of Allah (SWT). This vision is connected with the Islamic values that are engraved in

every aspect of our life. The fruit of this work is to be the most beneficial to other people. To take care of weak and lead the strong amongst us. But to

ensure this idea lives on in our community we must encourage

a

spirit of entrepreneurship.

It

is not good enough that all

members of our community are simply working as employees. We must have business owners who will start their own business and become

employers. My personal goal is

to see at least 5% of our people

start a business that employs

at least 5 people or more. As we build business and develop our skills we grow confidence and take on even bigger challenges in our society. For this reason, I am starting a new project which is called “Islamic StartUp” in order to partner with successful entrepreneurs in our community with the aim of training a new generation of entrepreneurs to start, run and grow their own business. You can visit the website www.IslamicStartUp.com to subscribe and get an email when this program starts in February 2018, insha’Allah. If you are interested in partnering or sponsoring please email me at almir@auscif.com for more info.

Almir Colan is a Director of Australian Centre for Islamic

Finance (AUSCIF), Director

at Awqaf Australia and Board member at Garden College. Almir is also an adviser to a number of institutions that provide Islamic finance and member of a working group at AAOIFI.

is also an adviser to a number of institutions that provide Islamic finance and member of