(part2)Equity in Debt Transactions #islamicbusiness #smartcontracts #quran282 #financialintegrity

Translation:

“…of those whom you choose as witnesses — so that if one of them errs, the other can remind her. And let not the witnesses refuse when they are called. And do not be weary of writing it, whether small or large, for its appointed term. That is most equitable in the sight of Allah, upright for testimony, and least likely to lead you into doubt. Except when it is an immediate transaction which you conduct among yourselves, then there is no sin upon you if you do not write it. And take witnesses when you transact. Let no harm come to the scribe or the witness. For if you do so, indeed that is disobedience in you. And fear Allah. And Allah teaches you, and Allah is Knowing of all things.”

Summary

This verse highlights the value of clarity, responsibility, and fairness in financial dealings:

Choose trustworthy witnesses—if one forgets, the other reminds.

Witnesses must not refuse when called.

Never become hesitant to record agreements, whether small or large.

Written documentation is fair, trustworthy, and helps eliminate doubts.

For instant transactions, writing is not mandatory.

Always involve witnesses when making agreements.

Protect both scribes and witnesses from harm or pressure.

Disrespecting them equals disobedience to Allah.

Remain conscious of Allah’s knowledge and let Him guide you.

Reason for Revelation (Shan-e-Nuzool)

While precise historical context for this specific segment isn't extensively documented, classical scholars explain that this verse was revealed to address the practical complications arising in financial transactions—especially disputes and forgotten agreements. Allah prescribed clear written agreements and trustworthy witnesses to maintain justice and to protect all parties involved.

Introduction

Among the most comprehensive legal guidelines in the Quran, this passage instructs Muslims on how to conduct deferred financial dealings. It emphasizes written transparency, credible witnesses, and ethical treatment of all involved—ensuring social harmony and protecting individual rights.