Allah, subhanahu wa ta'aala, has prohibited aggression against the properties of other people and against taking it without rightful cause, and held as liable any person who damages other people's properties without rightful cause even if it were done by mistake. Therefore, anyone who damages the lawful property of the others without their permission will be held liable for retribution. Imam Ibn Qudamah said, "We are not aware of any … [Read more...]
Defective Contracts
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November 9, 2009 by
A summarized translation from the "Fiqh of Financial Contracts" by Dr. H Chouat and Dr AH Hemmish A contract can be afflicted by a number of defects that may render it invalid or incapable of generating its intended results intended for it by the shar'iah. These defects, which may inflict the will of the contractors, are generally due to four things: MISTAKES They fall into two types: 1-Internal mistake: It is an assumption in the mind of … [Read more...]
Report on the Shari’ah Compliance of Products
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November 9, 2009 by
I have been requested by my esteemed and respected Ustaad, Mufti Ebrahim Desai Saheb to comment on a financial contract used by a major Bank. However, as an introduction to this matter, I will present in this part certain general guidelines that apply across the board, and are not confined to the product in question. These guidelines will form the ground plan and foundation upon which this product, and others, should rest. Any financial … [Read more...]
Islamic Banking and Finance in the United States – a report
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November 9, 2009 by
Report by Mufti Ebrahim Desai It is Friday after Maghrib Salaat on 14 July 2006 in Musjidun Nabawiy [sallallaahu alayhi wasallam]. I am on my way to South Africa from the United States and Allah favoured me with the opportunity of visiting the Haramayn Shareefayn. I have been travelling to the United States for the past fourteen years and have witnessed a great deal of Islamisation in the past one and a half decade. I regret not having … [Read more...]
General Business Laws
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November 9, 2009 by
Q: What is (the definition of) a transaction of sale? A: It is the exchange of one commodity for another commodity with the (happy) consent of the transactors. Q: How is a sale contracted? A: A sale is contracted with offer and acceptances which is effected in the past tense (i.e. the words used for offer and acceptance is to be in the past tense). It will be as though one of the transactors (contractors) is saying: ‘I sold (this article) … [Read more...]
Common Health Problems during Hajj
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November 9, 2009 by
RESPIRATORY TRACT INFECTION People from all over the world bring with them all kinds of infections, and the unavoidable closeness of the hundreds of thousands of Hujjaj facilitates easy spread of those illnesses. Fatigue, and lack of sleep from the physically demanding regimen of Hajj rites as well as the over-enthusiastic exertions in salah and devotions, lower one's immunity and resistance, thereby making one more vulnerable … [Read more...]
