1. Faith:
it is compulsory for every Muslim to have a firm belief in all articles of faith without exception, however, three among them are mostly needed to businessmen during the cause of their transaction.

a) Belief in Allah: an unshakable belief in Allah's essence and attributes will serve as a check to an entrepreneur from transgressing the limits set by Allah, the consciousness that Allah is all-seeing, all-hearing will restrain a Muslim seller or buyer from short-changing each other.

b) Belief in Qadar:a firm believe in predestination will birth certainty and moderacy in seeking a livelihood, after all, no soul will depart this earth until it consumes all that has been written for it, bearing this in mind will curb unhealthy competition and antisocial or aggressive marketing

c) Belief in the day of judgment: one of the benefits of this article of faith is that it quickly reminds us that we will surely meet our Lord and account for every penny we made on this earth, a day where a stolen or fraudulently amassed $1 may be exchanged for someone's ten years solat, a day where we will be asked how we got our wealth and how it was spent, a day where money or child will not be accepted as ransom from the blazing fire, in view of this a Muslim entrepreneur will ensure that all his transactions are based on fear of God and optimum transparency

2. Knowledge: For a Muslim entrepreneur to avoid unlawful (haram) transactions, it is important for him/her to acquire the necessary Islamic knowledge pertaining to his chosen field of endeavour. Allah's messenger ( sallallahu alayhi wa sallam) said, "seeking knowledge is compulsory on every believer." (Bayhaqi)

Among the various means of seeking knowledge is asking; if a Muslim does not know the Islamic ruling on a particular trade or transaction, it is his/her duty to ask a qualified Muslim scholar for proper guidance. It is recorded that Umar bn al-khatab said, "No one should trade in our market except the one who has acquired the understanding of the religion.”, related by Tirmidhi. This tradition of Umar portends that a trader without the necessary Islamic knowledge will consume the unlawful (haram) or fall into doubtful matters.


3. Seeking only the lawful (Halal): Seeking lawful sustenance is enjoined by Allah and His Messenger on every Muslim. Allah says "…eat of the lawful and good food which Allah has provided for you..." (Q16v114). Similarly, His messenger (sallallahu alayi wasaallam) said, “ Allah is pure, and He will not accept anything except what is pure." Allah has commanded the believers to do what He has commanded His messengers, for He said, “O messenger, eat from the pure foods and do good deeds, and He said O you who believer! Eat from the pure and good food We have given you." Then, the Prophet (sallallahu alaihi wasallam) mentioned a traveller on a long journey, who is dishevelled and dusty, and he stretches forth his hands to the sky, saying O my Lord! O my Lord, while his food is unlawful, his drink is unlawful, his cloth is unlawful, and he is nourished unlawfully, how can he (expect to) be answered?

The companions of Prophet Muhammad too were careful about how they earned their sustenance. Sa'as bn Abi Waqas was once asked, "why is it that your prayers are responded to amongst all of the companions?" So he replied, "I do not raise to my mouth a morsel except that I know where it came from.”

4. Being moderate in the quest for wealth: The ultimate life goal of a Muslim is not just amassing wealth for its sake. Wealth should rather be seen as a means to achieve an end, which is the pleasure of Allah. Allah said, “And I did not create the jinn and mankind except to worship Me.’’(Q51V56)

It is incumbent on a Muslim entrepreneur to restrain himself/herself from environmental influences that place irrational emphasis on materialism and ostentation. Seeking wealth in Islam is seen as a means of perfecting one’s faith so as to earn Allah's pleasure, not a means of oppressing others; for example, giving Zakat, going for Hajj, and building a mosque for the community can only be achieved through wealth acquisition but the wealth must be lawful.

The Messenger of Allah admonishes us to be moderate in seeking our livelihood without consuming what is unlawful (haram) or exploiting others, he said, “O people, fear Allah and act properly and godly in seeking wealth for a soul will not die until it exhausts its sustenance (decreed for it)… Fear Allah and act properly in seeking wealth by taking what is permissible and leaving what is forbidden.”

5. Being truthful and avoiding telling lies: The scarcest virtue in the business circle today is honesty and truthfulness. A Muslim entrepreneur must distinguish himself/herself from others in the market place or his chosen industry. If truthfulness is strictly adhered to, it can serve as a means of calling people to the way of Allah and a unique selling point in the transaction process. For instance, if a trader is known in the market place as a truthful person, he will gain the patronage and referrals of previously satisfied customers who have recommend him to their friends and family, hence a subtle marketing strategy.

Allah’s messenger said, “The seller and the buyer have the right to keep or return goods as long as they have not parted, and if both parties spoke the truth and described the defects and qualities (of the goods) then they would be blessed in their transaction and if they told lies or hid something, then the blessings of their transaction would be lost." (Bukhari)

It can be vividly deduced from the above hadith that one of the means of attaining Allah’s blessings in business or trading activities is by being truthful and open. These are virtues Muslim entrepreneurs should have.