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15th night of Sha'baan
Hadhrut Aa-ishah [radhiallaahu anhu] relates that the Nabiy once inquired from her: `Are you aware of the virtue of this night, (meaning the middle night of Sha-baan)?’ She asked: `What is the significance O Rasool of Allaah?’ He then said: `It is on this night that each one of the sons of Aadam who shall be born is determined, and each one of the sons of Aadam to die that year is fixed. It is on this night that the deeds of every person is presented, and their sustenance apportioned’.
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The blessed companion Usama ibn Zaid, Radi-Allahu anhu, reports that he asked Prophet Muhammad, Sall-Allahu alayhi wa sallam: "Messenger of Allah, I have seen you fasting in the month of Sha'ban so frequently that I have never seen you fasting in any other month." Prophet Muhammad, Sall-Allahu alayhi wa sallam, replied: "That (Sha'ban) is a month between Rajab and Ramadan which is neglected by many people. And it is a month in which an account of the deeds (of human beings) is presented before the Lord of the universe, so, I wish that my deeds be presented at a time when I am in a state of fasting."
The month of Sha'baan
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Reproach For Not Adding "In Sha' Allah" When Making a Promise
People of high rank are rebuked even for things that seem minor. Being the best of creation, Rasulullah ﷺ was chided by Allah even for omittin a non-obligatory act. A person can never be cartain of the duration of his life and can die before he can fulfil his promises. Even if he lives, he still cannot be certain whether he will be able to conclude the intended act. He should therefore add "Insha'Allah" to every promise. "Insha'Allah" should not be added because a person intends to breach the promise.
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RAMADHAAN TREATS
Although the soup is often a meal onto itself, other dishes are also traditionally present, making the meal a multi-course one. Fried foods, such as the Tunisian boreek which are spring rolls stuffed with chicken, eggs, cheese, potatoes and spices, are common almost every day for iftar. Zelabaya, much like the Pakistani and Indian jalebi, maqrood, which is made out of semolina and dates, and other donut-like sweets dipped in honey are desserts eaten only in Ramadhaan or other special occasions, such as Eid, Amr said.
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The month of Ramadhan is not like any other month; its purpose is to rid man of those habits which he has accumulated throughout the rest of the year. It is a month that prepares man for the remaining eleven months by teaching him discipline and self control. Thus, Allah has made some acts which are beloved to man, like eating, drinking and fulfilling one’s desires, Haraam. If man can control these desires in this month, which are usually permissible for him, then he can surely control himself from other desires which are not permissible throughout the remaining months.
The Purpose of Ramadan
In'aamiyyah
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Bank (A) has an Islamic finance program for real estate

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October 9, 2011 by

 

Question

 

1) Bank (A) has an Islamic finance program for real estate (villa or land),  they give you a loan at a margin of 4.75% according to your monthly income + 10% as down payment for 20 years. The bank doesn’t possess any real estate, they ask you to go and search for anything you like and then they re-evaluate it, and then they buy it on their name, then they make a lease contract with the client for 20 years,  and when payments are done, the real estate is transferred into client’s name.

 

In case they the client is passed away before completing the installments, they remaining amount is waived and the heirs don’t have to pay the money, the real estate is transferred on the heirs name.

 

2) Bank (B) has an Islamic finance program for real estate (villa, building or land), they also give loans at a margin of 5% per year for 15 years according to your monthly income with no down payment. The bank doesn’t possess any real estate, they ask you to go and search for  anything you like and then they re-evaluate it, and then they buy it on the  client’s name, but they keep the original papers of the real estate in their possessions till the payments are complete, then they release the papers to the client. During the 15 years the client may build, lease or do anything with the real estate except selling it.

 

Which one of the above two are considered halal?

 

 

Answer

 

Muhtaram / Muhtaramah

 

In the Name of Allāh, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāh wa-barakātuh.

 

1) The scheme where the bank purchases a property for a client and thereafter leases it out to him on installments over a period of 20 years with transferring of ownership to the client after the installments are complete is permissible. However, it is incumbent that the bank makes it clear in the contract that transferring of ownership of the property will be a voluntary gesture from the side of the bank. The contract will be rendered incorrect if this is not mentioned in the contract.

 

The bank should also make clear from the beginning that the benefit of the outstanding installments being waived off and the transferring of ownership to the heir’s in the event of the client’s demise will be merely a voluntary gesture from their side.

 

The issue of the bank extending a loan to the client at a margin of 4.75% is unclear. Nevertheless, we gather that the bank extends the loan to the client to assist him in paying out his installments or deposit. In this case, the contract will only be permissible if the following two conditions are fulfilled:

1) The loan is completely independent from the contract of the bank financing the desired property.

2) The loan is a voluntary gesture from the side of the bank.

 

2)The plan where the bank purchases the property for the client and the property is registered on the clients name, thereafter the client pays the bank in installments with an excess of 5% per annum is not permissible as it is clear cut Riba (Interest)

 

And Allah knows best
Darul Iftaa

Madrasah Inaa’miyyah

 

 

·         The Sharée ruling herein given is specifically based on the question posed and should be read in conjunction with the question.

·         The Darul Ifta bears no responsibility to any party who may or may not act on this answer. The Darul Ifta being hereby exempted from loss or damage howsoever caused.

·         This answer may not be used as evidence in any Court of Law without prior written consent of the Darul Ifta.

 

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