Wealth includes cash, bank balance, jewelry, property, investment, trademark, goodwill, franchise etc. Wealth plays very important role in human life, business, commerce, politics etc. The Holy Quran mentions functions of wealth, for which Arabic word “Maal” (plural “Amwaal”) is used.
Recording of financial transactions: Verse 2:282 commands believers to write down when entering into financial transaction for a specified period, and to have witness for this, and explains in detail about the procedure of writing down.
Forbidding acquisition of wealth illegally: Verses 4:29 forbids acquiring wealth by illegal means. Verse 2:188 commands not to influence the authorities (judges, law makers etc) in order to acquire peoples’ wealth by illegal means. (peoples’ wealth includes government property regarded as peoples’/tax money).
Wealth as test in life: Verses 8:28 and 64:15 warn about wealth as a test / temptation (Arabic word “fitnah”) in human life, since often wealth becomes root cause of quarrel, fight, litigation etc. Sometimes wealth creates problems due to improper planning, therefore, the wealth is test/temptation in human life.
Wealth as worldly decor: Verse 18:46 says that wealth is decoration / ornaments of human life. The good deeds are better, from which the best reward from the Lord can be expected.
Best use of wealth as charity: Verses 2:215, 2:274, 3:92 & 17:29 command mankind to spend part of their wealth in the cause of Allah. Verse 63:10 commands to spend the wealth as charity before one’s death. Verses 2:254 and 14:31 command to spend the wealth as charity before the judgement day.
Overspending of wealth: Verses 6:141, 7:131, 17:26 & 27 forbid believers towards unnecessary expenses.
Under-spending of wealth: Verse 17:29 commands not to resort to misery.
Wealth in excess of requirement: Verse 2:219 explains to spend in the cause of Allah. whatever is beyond one’s need.
Wealth to use for the cause of Allah: Verses 2:261 to 2:265 describe not to use charity to show others or to follow up or to show generosity and obligation.
Wealth to use to attain to righteousness: Verse 3:92 commands that to attain righteousness, one has to spend in the cause of Allah what he loves i.e. wealth, loved most by mankind.
Greed of wealth: Verses 102:1 & 2 explain that too much greed of wealth has diverted mankind until he has reached the grave i.e. end of life.
Hoarding of wealth: Verses 104: 2 & 3 describe about those, who hoard the wealth without using it thinking that their wealth will be with them forever. In fact, after death, the wealth is passed to someone else.
Orphans’ wealth: Verses 4:10, 6:152, 17:34 etc. forbid towards acquiring orphan’s wealth by illegal means.
Wealth may divert from remembrance of Allah: Verse 63:9 describes that love towards wealth and children can divert believers from remembrance of Allah, and those who will do this, they will be among the losers.
All above Commands show us the best management of wealth, as taught to human being by Allah.