It is narrated by Rafa’h that the Prophet (peace and blessings of Allah be to him) said: “Traders will be raised on the Day of Resurrection as wicked people, except those who had adopted the practice of righteousness, goodness and truth.”
(Tirmidhi)
Islam enjoins its followers to practise righteousness, goodness and truth in every walk of life. Whether individual or collective, private or public, domestic or trade, all our affairs should be guided by the spirit of truthfulness.
But in business and trade people generally display materialistic mentality, so much so that even a person known as righteous fail to deal justly and honestly. They neither care for what is permissible and what is not; nor do they worry about honesty and truth. They are concerned with only earning money by any means, even at the cost of moral and religious values. That is why the Blessed Messenger has warned traders against facing the fate of wicked people in the Day of Judgement if they do not adopt the policy of honest-dealing and good moral conduct in their trade affairs.
In another hadīth of Sahih Muslim narrated on the authority of Ma’mar bin Abdullah the Prophet (peace and blessings of Allah be to him) said that the person who indulges in hoarding wealth is a sinner. To hoard food grains and other commodities of daily necessity with a view to selling them at a higher price, when their scarcity in market is causing great hardship to people, is to take undue advantage of people’s difficulties. It is a criminal act.