The 51st Tip:
When You Lend One Another Money, Write It Down
We find it strange that the longest verse in the Noble Quran is the verse talking about the issue of debt. Why isn't it a verse about prayer or fasting or judgement? When trade became widespread and people's interactions were strengthened, many problems set in as a result.
The verse of Debt in Surah Al-Baqarah contains some counsel and rulings which if we were to apply them as required, we would become safe from what goes on today in people's interactions with one another; interactions that are not proper, that can uproot the fabric of the society and cause trial and evil traits therein.
"O you who believe! When you contract a debt for a fixed period, write it down. Let a scribe write in down in justice between you. Let not the scribe refuse to write as Allah has taught him, so let him write. Let him (the debtor) who incurs the liability dictate, and he must fear Allah, his Lord, and diminish not anything of what he owes. But if the debtor is of poor understanding, or weak, or is unable himself to dictate, then let his guardian dictate in justice. And get two witnesses out of your own men. And if there are no two men (available), then a man and two woman, such as you agree for witnesses." (Al-Baqarah: 282)
The verse makes it imperative that transactions involving debt must be put into writing - no matter how little. There is wisdom in that. Due to its small nature at times, some people refrain from putting it into writing but when there is the need to return the rights back to their owner, the creditor will not see the debt as being small or not. What he wants is that he should have his right back even if it were a dime.
The verse stipulates that all parties to a debt transaction must comply with its rulings; they are the writer, the witnesses and the parties to the transactions (that is, the creditor and the debtor). The verse specifically goes tough on the witnesses that they should not fail to render the testimony as demanded by the religion. That is the problem these days when one wants to cash a cheque, a conveyance or a promissory note. The verse also charges those in the official position to safeguard the writers of the debt and the witnesses. The verse thus charges all on fear of Allah.
Writing down the debt and spreading this practice in society is an evidence of piety and obedience of Allah. People in their interactions with other people, will love to interact with anyone who will not deny them of their rights. As for the person who devours people's wealth unjustly; who trades in falsehood and make frivolous claims on the people, they will avoid him. This is what is called in some customs, a portion that devours the rights of the Prophets.
70 Tips to Win Mutual Love and Respect
by Aamir Shammaakh
(page 174-176)