Philanthropy is deeply ingrained in the foundational values of Islam. Sadaqah, or voluntary charity; zakat, one of the five pillars of Islam which mandates annual giving; and waqf, or endowment, are some of the key categories of Islamic charitable practices.
Uthman ibn Affan, the third Caliph who ruled the Muslim empire and a close companion of the Prophet Muhammad (peace be upon him,) is a prime example of Islamic philanthropic values. In 650 CE (common era), during severe drought and food shortages in Madinah, Uthman Ibn Affan sent a caravan of 1,000 camels with urgently needed supplies to people suffering in the harsh conditions. Despite receiving lucrative offers from merchants to gain business profit, he chose to donate all the goods to the people free of charge, knowing the ultimate reward comes from Allah for helping those in need.
The lesson from this story emphasizes that humanity should come before profit in the context of business and leadership during times of hardship. Islam discourages exploitation and hoarding, advocating instead for selflessness and community support. Recognizing the potential for capitalistic greed in many well-intentioned initiatives, Muslim philanthropy further becomes an anchor that advocates for overcoming greed for long-term and sustainable success.