By Kabir Alabi Garba

“Now, if one in debt has hardship, then let there be respite, until there is ease for him. And should you (the lender) give it up as charity, it is best for you, if only were to know.” Qur’an 2:280

Brethren, in continuation of our sermon, last week – debt management and financial literacy: avoiding harmful debt, planning for tomorrow and supporting one another – there is a deeper question to be considered: Why must a financially distressed Muslim resort to predatory lenders when he has a Muslim community around him? Why should a widow borrow money at unbearable terms simply to pay school fees? Why should a small trader enter exploitative debt to buy stock? Why should a young entrepreneur pay outrageous charges because nobody was willing to provide a lawful alternative?

As a community of the faithful, access to Qard Hasan (interest-free benevolent loans) should be institutionalised among other initiatives such as zakat institutions, transparent waqf initiatives, community savings schemes that comply with Islamic principles, financial literacy programmes, responsible entrepreneurship, mentorship for young people, while Muslims with means are encouraged to support productive ventures, not merely distribute occasional handouts. Sometimes, the best charity is not simply giving a person today’s meal. It is helping that person become capable of providing tomorrow’s meal.

Those whom Allah (SWT) has blessed with wealth must remember that wealth carries responsibility. Zakat is not merely an annual calculation. It is a mechanism of social solidarity. When properly administered, zakat can help address genuine hardship and strengthen vulnerable members of society.

However, we must insist on: transparency, accountability and competence. People will trust institutions when they can see how funds are collected and distributed. The mosque should be not only a place where we pray together. It should also be a place where we strengthen one another.

And to our businessmen and wealthy Muslims, if Allah has given you wealth, do not measure your success only by the size of your house or the number of cars in your compound. Ask yourself: How many families have I helped become financially independent? How many young people have I mentored? How many businesses have I helped establish? How many people have escaped harmful debt because of my intervention? How many students have completed their education because of my support? How many widows have received sustainable assistance? How many people have learned a trade through my generosity? That is another dimension of wealth. Wealth is a trust.

To young Nigerians, do not begin adult life by trying to look rich. Begin by trying to become financially strong. Learn a skill. Learn financial management. Learn how to save. Learn how to invest responsibly. Learn how to distinguish legitimate opportunities from scams. Do not believe every person promising you extraordinary returns.

If somebody tells you: “Give me ₦1 million and I guarantee you 50 per cent every month,” do not become excited. Become suspicious. Ask questions. Investigate. Seek professional advice. Islam does not teach us to surrender our money to every attractive promise.

Beware of borrowing to gamble with your future, as some people borrow money to speculate recklessly. Some enter financial schemes they do not understand. Some chase quick riches.

Some want to become millionaires overnight. But wealth built on impatience can disappear with equal speed. In Qur’an 2:188, Allah warns: “And do not consume one another’s wealth unjustly.”

Therefore, every Muslim should endeavour to earn honestly. Trade honestly. Invest prudently. And remember: Halal wealth may take time to build, but barakah is more valuable than speed.

And in order to avoid carrying the burden of debt perpetually, this practical five-step debt plan should be embraced. Step one — stop the leak: If debt is increasing, stop unnecessary borrowing and unnecessary spending. Step two — know the numbers: Write down every debt. Who is owed? How much? What are the terms? When is it due? Do not hide from the numbers. You cannot solve what you refuse to measure. Step three — prioritise: Separate essential obligations from non-essential spending. Protect food, shelter, healthcare, education and basic family responsibilities. Step four — communicate: If you cannot repay on time, don’t disappear. Speak to the person you owe. Explain your circumstances. Negotiate a realistic repayment plan where appropriate. Step five — seek help: If the situation has become overwhelming, seek assistance from trustworthy family members, community institutions, qualified financial advisers and knowledgeable scholars. There is no shame in seeking help. The shame is allowing pride to destroy your family when help was available.

Indeed, debt can become a test of character. So, if you owe someone money, make repayment a serious commitment. The Prophet (SAW) taught the seriousness of people’s financial rights. Do not say: “He is rich; he won’t miss the money.” You do not know what Allah will ask you about. Do not delay payment when you are genuinely able to pay. Do not use somebody else’s money for your comfort while they suffer because of your refusal. A debt is a trust.

And if you borrowed with sincere intention to repay but circumstances genuinely prevented you, keep striving, communicate honestly and ask Allah for help.

As a community of faithful, we must also speak beyond the individual. Financial literacy should become a national priority. We need citizens who understand: budgeting; savings; responsible borrowing; entrepreneurship; investment; consumer protection; digital financial services; insurance and risk management; retirement planning; and the dangers of financial fraud.

Our young people should not leave school knowing complex theories while knowing nothing about how to manage the money they will earn.

A financially literate population is harder to exploit. It is better prepared for emergencies. It can build stronger businesses. And it is more capable of contributing to national development.

Brethren, let us change the way we think about money. Don’t ask only: “How much can I earn?” Ask: “How much can I responsibly manage?” Don’t ask only: “How much can I borrow?” Ask: “Do I really need to borrow?” Don’t ask only: “How can I look successful?” Ask: “How can I become financially secure without compromising my faith?” And don’t ask only: “What can I do for myself?” Ask: “Whom can I help?” Because a healthy Muslim community is one where the wealthy do not exploit the poor, the poor are not abandoned, borrowers honour their obligations, lenders show mercy, and everyone strives for halal provision.

May Allah put barakah in our wealth. May He protect us from ribā, fraud, greed, wastefulness and destructive debt. May He enable those who are indebted to repay their obligations. May He give relief to families struggling with financial hardship. May He bless our businesses and our legitimate earnings.

May He make our wealth a means of worship rather than a source of arrogance. And may He make our mosques centres not only of prayer, but of knowledge, compassion, economic empowerment and community solidarity.

In conclusion, let us uphold these three commitments: First: I will not take a debt unless I understand why I need it, how I will repay it, and whether its terms are Islamically permissible. Second: I will begin to manage my money deliberately — by budgeting, saving, reducing unnecessary expenditure and planning for emergencies. Third: I will look around me for someone struggling financially whom I can assist — through zakat, sadaqah, qard hasan, mentorship, employment, business support or simply compassionate counsel. Let us build a culture where financial wisdom replaces financial recklessness, where compassion replaces exploitation, and where community replaces isolation.