God says
[God does not love those] who are niggardly and bid others to be niggardly, and conceal whatever God has bestowed upon them out of his bounty; and so We have readied shameful suffering for all who thus deny the truth. -- Q.4:37
… [so, too, it is We who bestow gifts of the spirit upon whomever We will]: and this thy Sustainer’s grace is better than all [the worldly wealth] that they amass. -- Q.43:32
Wealth is not forbidden in Islam. Hoarding is. The third Caliph, Prophet’s son-in law, Usman-b-Affan was wealthy. He could, therefore, respond in a big way whenever help was needed to prepare for the war of self-defense.
A wealthy and resourceful Ummah can be more helpful for humanity than a poor one, provided, of course, the former does not misuse wealth and power in order to dominate others.
What is forbidden is the love of wealth, because, then, money stagnates with few. That is hoarding. Stress in Islam is on its circulation, hence, compulsory Zakat, and great emphasis on charity.
Prophet said
Bibi A'isha reported: Allah's Messenger (may peace be upon him) left neither dinar nor dirham (wealth in the form of cash), nor goats (and sheep), nor camels. And he made no will about anything (in regard to his material possessions, as he had none) -- Sahih Muslim: Book 013, Number 4011:
Talha-b-Musarrif reported: I asked 'Abdullah b. Abu Aufa whether Allah's Messenger (may peace and blessing be upon him) had made any will (in regard to his property). He said: NO. I said: Then why has making of will been made necessary for the Muslims, or why were they commanded to make will? Thereupon he said: He made the will according to the Book of Allah, the Exalted and Majestic. -- Sahih Muslim: Book 013, Number 4009:
The Prophet (peace_be_upon_him) said: “Hoarding up food (to sell it at a high price) in the sacred territory is a deviation (from right to wrong) -- Sunna Abu Dawud, Book 10, Number 2015: Narrated Ya'la ibn Umayyah.
Bibi A'isha reported: Allah's Messenger (may peace be upon him) left neither dinar nor dirham (wealth in the form of cash), nor goats (and sheep), nor camels. And he made no will about anything (in regard to his material possessions, as he had none) -- Sahih Muslim: Book 013, Number 4011:
Talha-b-Musarrif reported: I asked 'Abdullah b. Abu Aufa whether Allah's Messenger (may peace and blessing be upon him) had made any will (in regard to his property). He said: NO. I said: Then why has making of will been made necessary for the Muslims, or why were they commanded to make will? Thereupon he said: He made the will according to the Book of Allah, the Exalted and Majestic. -- Sahih Muslim: Book 013, Number 4009:
The Prophet (peace_be_upon_him) said: “Hoarding up food (to sell it at a high price) in the sacred territory is a deviation (from right to wrong) -- Sunna Abu Dawud, Book 10, Number 2015: Narrated Ya'la ibn Umayyah.
