In The Name of Allaah, The Most Merciful, The Bestower of Mercy
Allaah [The Most High] said:
يَا أَيُّهَا الَّذِينَ آمَنُوا لَا تَأْكُلُوا أَمْوَالَكُمْ بَيْنَكُمْ بِالْبَاطِلِ إِلَّا أَنْ تَكُونَ تِجَارَةً عَنْ تَرَاضٍ مِنْكُمْ ۚ وَلَا تَقْتُلُوا أَنْفُسَكُمْ ۚ إِنَّ اللَّهَ كَانَ بِكُمْ رَحِيمًا
O you who believe! Eat not up your property among yourselves unjustly except it be a trade amongst you, by mutual consent. And do not kill yourselves (nor kill one another). Surely, Allah is Most Merciful to you. [4:29]
Few Reminders from the above Aayah
Allaah forbade His believing slaves [from] eating one another’s property in falsehood- through force, theft, gambling and [other] evil earnings; rather consuming your own wealth out of vanity and extravagance is included in this because it is considered a path of falsehood.
After forbidding [the servants] from consuming property through falsehood, Allaah made trade permissible for them and earnings that are free from what is unlawful- including contracts established through mutual consent and other than that.
[وَلَا تَقْتُلُوا أَنْفُسَكُمْ – And do not kill yourselves]- Meaning: Neither kill one another [i.e. except what is legislated by Islamic law and executed by the authorities (Ref 1)], nor should a person kill himself [or herself] by bringing about destruction to oneself and engaging in dangerous activities that will lead to ruin and destruction.
[إِنَّ اللَّهَ كَانَ بِكُمْ رَحِيمًا – Surely, Allah is Most Merciful to you]- Meaning: And from Allaah’s Mercy is that He safeguards your lives and properties. He forbids you from wasting and ruining your lives and properties and legislated prescribed rulings in relation to that.
[Source: (Tayseer Al-kareem Ar-Rahmaan Fee Tafseer kalaam Al-Mannaan). Abridged and paraphrased]
Ref 1: Imaam Abdul Azeez Bin Baaz [rahimahullaah] stated about the statement of Allaah:
وَإِذَا بَطَشْتُمْ بَطَشْتُمْ جَبَّارِينَ
And when you seize, you seize as tyrants. [26:130]
This is a rebuke from Allaah against Aad-the people of Hud (alayhis-salaam). Allaah rebuked them with this and that they are oppressors who strike people without right. They oppress people by way of striking, killing and seizing wealth by force. This is a rebuke against them and a blameworthy trait of theirs. Therefore, this is not permissible; rather it is obligated on a Muslim that he does not take wealth except based on what is right and he does not strike anyone except based on what is right. He neither has a right to transgress against the people nor to strike them; rather he seeks what is right through the path of the Islamic Law. If he has a right to seek after, he should seek it through the courts; through an upright path and through the authorities. He does not strike the people by way of oppression, transgression and injury. He should not oppress them by confiscating their wealth and striking; rather it is obligated on him to take his rights through the path of the Islamic Law and from an Islamic perspective. This (i.e. this statement of Allaah) is a rebuke against Aad and a blameworthy affair for which Allaah sent a devastating barren wind against them. They used to oppress the people and transgressed against them.
[Source: Slightly Paraphrased. see link: http://www.binbaz.org.sa/mat/9111 ]