The Ruling on Competing in Wealth
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The Shaykh : If someone were to ask: Is competing in wealth forbidden, or is it lawful, or is it recommended, or what is it?
We say: As for when it distracts from the obedience of Allah, it is forbidden if it distracts from an obligatory duty, and it is blameworthy if it distracts from a recommended act. As for when it does not distract, but rather serves as an aid to the obedience of Allah, and a person competes in his wealth and trades in his wealth to benefit himself and benefit his brothers, then there is absolutely nothing wrong with that.
Alhaakum al-takaathur
ألهاكم التكاثرWe say: As for when it distracts from the obedience of Allah, it is forbidden if it distracts from an obligatory duty, and it is blameworthy if it distracts from a recommended act. As for when it does not distract, but rather serves as an aid to the obedience of Allah, and a person competes in his wealth and trades in his wealth to benefit himself and benefit his brothers, then there is absolutely nothing wrong with that.