Mufti Muhammad Taqi Usmani
Mufti Muhammad Taqi Usmani is a renowned figure in the field of Shariah, particularly in Islamic Finance. He currently holds advisory positions in a number of financial institutions practicing Islamic Banking and Finance.
Mufti Muhammad Taqi Usmani has vast experience in Islamic Shariah, teaching various subjects on Islam for 39 years. He has served as a Judge in the Shariat Appellate Bench, Supreme Court of Pakistan from 1982 to 2002. He is also the Editor of the magazine ‘Albalagh’ (a weekly publication of Jamia Darul Uloom, Karachi) as well as an active contributor of articles in leading Pakistani newspapers.
Born in India, Mufti Muhammad Taqi Usmani graduated from Punjab University, Pakistan in 1970 and also holds an LLB from Karachi University, Pakistan. Prior to these, he completed the ‘Takhassus’ course, which is the specialization course of Islamic ‘Fiqh’ and ‘Fatwa’ (Islamic Jurisprudence) from Jamia Darul Uloom Karachi, Pakistan.
In March 2004, His Highness Sheikh Mohammad Bin Rashid Al Maktoum (Dubai Crown Prince and UAE Minister of Defense) presented a special award to Mufti Muhammad Taqi Usmani in recognition of his lifetime service and achievement in Islamic Finance at the occasion of International Islamic Finance Forum, Dubai, which is one of the biggest events in Islamic Finance Industry.
Mufti Muhammad Taqi Usmani advises a number of international financial institutions including Dow Jones, Bharain Monetary Agency and Islamic Corporation for the Development of the Private Sector (A Member of the IDB Group) on Islamic law.
Sheikh Abdul Sattar Abu Ghuddah
Dr. Abdul Sattar Abu Ghuddah is the Shariah Advisor and Director, Department of Financial Instruments at Al-Baraka Investment Co. of Saudi Arabia. He holds a PhD in Islamic Law from Al Azhar University Cairo, Egypt. He is an active member of Islamic Fiqh Academy and the Accounting & Auditing Standards Board of Islamic Financial Institutions.
Dr. Abdul Sattar teaches Fiqh, Islamic studies and Arabic in Riyadh and has done a valuable task of research and compiling information for the Fiqh Encyclopedia in the Ministry of ‘Awqaf’ and Islamic Affairs, Kuwait. He has been a member of the ‘Fatwa’ Board in the same Ministry from 1982 to 1990.
Dr. Daud Baker
Dr. Muhammad Daud Bakar was an Associate Professor in Islamic Law and Deputy Rector at the International Islamic University Malaysia (IIUM). He received his first degree in Shariah from the University of Kuwait in 1988 and Ph.D from the University of St. Andrews, U.K. in 1993. He completed his external Bachelor of Jurisprudence at University of Malaya 2002.
He is presently a member of the Shariah Advisory Council at the Central Bank of Malaysia, Securities Commission of Malaysia, Oasis Asset Management (Cape Town, South Africa), Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Dow Jones Islamic Index (New York). Dr Bakar now operates his own Islamic training and education facility.
Sheikh Yusuf Talal DeLorenzo
Sheikh Yusuf serves as a Shariah advisor to over 20 global financial entities, including index providers, banks, mutual funds, real estate funds, leasing funds, institutional investors, home finance providers, alternative asset managers and others.
Sheikh Yusuf is the author of “A Compendium of Legal Opinions on the Operations of Islamic Banks”, the first English reference on the fatawa issued by Shariah boards. His three-volume publication has become the standard reference for Islamic financial institutions. In addition, Sheikh Yusuf wrote the introduction to “Islamic Bonds”, the 2003 book that introduced Sukuk and transformed the world’s Islamic capital markets. His written work has appeared in journals and newsletters and as chapters in books, including Euromoney’s “Islamic Asset Management”, “Islamic Retail Finance and Islamic Finance: Innovation & Growth”. His entries on the terminology of Islamic Finance appear in The Oxford Dictionary of Islam.
Sheikh Yusuf is also a special consultant, appointed by the Asian Development Bank and the Islamic Development Bank in Jeddah to the International Financial Services Board (“IFSB”) on the subject of Sukuk. IFSB is the international standard-setting body of regulatory and supervisory agencies that have a vested interest in ensuring the soundness and stability of the Islamic financial services industry, broadly defined to include banking, capital markets and insurance.
Sheikh Nizam Yaquby
Sheikh Nizam Yaquby is a graduate in Economics and Comparative Religion from McGill University and is an internationally acclaimed scholar in the Islamic banking industry. He advises a number of banks and financial institutions including Abu Dhabi Islamic Bank, BNP Paribas, Dow Jones, Lloyds TSB, Citi Islamic Investment Bank E.C. Bahrain and Standard Chartered on matters pertaining to Islamic Banking and Finance.
Sheikh Nizam Yaquby has contributed important original research on many aspects of modern Islamic finance, and is considered one of the world’s leading experts in the field. Since 1976, he has taught tafsir, hadith and fiqh in Bahrain. He is also the author of several articles and publications on Islamic finance and other sciences in English and Arabic.
Dr. Mohamed A. Elgari
Dr. Mohamed A. Elgari holds a Ph.D. in economics from the University of California. He is a professor of Islamic Economics at King Abdul Aziz University. He is an expert at the Islamic Jurisprudence Academies of the Organization of Islamic Countries and the Islamic World League. Dr. Elgari is member of Shariah Boards of many Islamic Banks and Takaful Companies including that of Dow Jones, International Islamic Fund Market, Citi Islamic Investment bank, Merrill Lynch and Saudi American Bank.
Mufti Hassan Kaleem
Mufti Hassan Kaleem studied Islamic jurisprudence at Jamia Darul Uloom Karachi and specialized in the science of issuing Islamic legal edicts. He serves on the Shariah board of a number of international institutions including Deloitte and Bank al-Baraka. He is renowned as an expert on Takaful (Islamic insurance). He is a student of the renowned Sheikh Taqi Usmani.
Dr. Muhammad Imran Ashraf Usmani
Dr. Muhammad Imran Ashraf Usmani is a M. Phil and Ph. D. in Islamic Finance and is a graduated as a scholar from Jamia Darul Uloom, Karachi, Pakistan. He has also completed the specialization course in Islamic Jurisprudence from Jamia Darul Uloom, Karachi, Pakistan. Currently he is involved in conducting training sessions for Meezan Bank’s staff in the area of Islamic finance and has been teaching several subjects of Islamic Fiqh since 1998 at Jamia Darul-Uloom, Karachi, Pakistan. Dr. Usmani has also authored various books on Islamic Shariah and especially his book ‘Meezan Bank’s Guide to Islamic banking’ has been the guiding light in the area of Islamic Banking.
Dr. Usmani serves as a Sharia Supervisory Board Member / Sharia Advisor to State Bank of Pakistan, HSBC Amanah Finance, Credit Suisse, Lloyds TSB, Meezan Bank, Pak Kuwait Takaful Co and others.
Mufti Najeeb Khan
Mufti Najeeb Khan is Shariah Advisor at Habib Metropolitan Bank and a leading authority on Shariah compliancy. He holds the notable distinction of having personally overseen the execution of over one thousand murabaha transactions and is keenly familiar with the issues involved in the area of Shariah compliancy related to execution. He delivers talks at a variety of institutes and conferences including the National Institute for Banking and Finance, Jamia Darul Uloom, and the Centre for Islamic Economics. He holds the Alamiyyah and Takhassus from Jamia Darul Uloom.
Mufti Muhammad Zubair Usmani
Mufti Muhammad Zubair Usmani completed his Doctorate in Islamic Finance form Karachi University. He is also the Fazil Takhassus (specialist of Islamic Fiqh and Fatawa) from Jamia Darul Uloom Karachi and is also a research scholar and teacher.
Besides being the Shari’ah Advisor, Muslim Commercial Bank; he is also the member Transformation Commission Sub-committee, State Bank of Pakistan; Islamization of Economic Committee Chamber of Commerce, Karachi; Implementation of Supreme Court Judgment on Riba Committee, Institute of Chartered Accountant of Pakistan and governing body Al-Markaz-ul-Islami, Dhaka, Bangladesh.
Sheikh Essam Ishaq
Sheikh Essam M. Ishaq graduated in Political Science from McGill University, Montreal, Canada. Currently he is teaching Fiqh, Aqeeda and Tafseer courses in Bahrain. He holds the position of Shariah Advisor at Discover Islam, Bahrain and is on the Board of AAOIFI as well as First Islamic Investment Bank.
Sheikh Al-Siddiq Mohamed al-Darir of Sudan is one of the leading Islamic Finance scholars of today. He serves as the head of the Shariah Board at Faisal Islamic Bank of Sudan and Methaq Islamic Insurance Company. He is also a member of the Shariah Council of AAOIFI. He lives in Khartoum, Sudan, where he Dean of the Faculty of Law at Khartoum University.
Sheikh Al-Manea of Saudi Arabia is a member of the Shariah Council of AAOIFI. He also serves on the Shariah Boards of Alahli Takaful Company, HSBC, SABB Takaful and others. He is a former judge of the Court of Cassation of Saudi Arabia.
Sheikh Al-Atram of Saudi Arabia is chairman of the Shariah Board of Al-Rajhi Investment Corporation and is a member of the Shariah Council of AAOIFI. He has written numerous legal verdicts in his capacity as Shariah Advisor.
Dr. AbdulAziz Al-Qassar is a Kuwaiti national holding a Bachelor’s degree in Shari’a from the University of Kuwait, a Masters degree and a PhD degree from the Al-Azhar University in Islamic Jurisprudence (Fiqh). He is currently an assistant professor of the Shari’a College at Kuwait University.
Dr. AbdulAziz is a member in the Shari’a Board of many Islamic financial institutions and banks around the world.
Thank your for this list dear brother.
Sayyidi wa sanadi Shaykh Taqi Usmani (may Allah preserve him) was born in Deoband, India.
He graduated from Darul Uloom Karachi.
Please, check the following link for more details,
http://www.ashrafiya.com/sayyidi-mawlana-mohammad-taqi-usmani-db/
thank you for information
Masha Allah.. Keep up the good work.. what about having a digest to round up recent happenings & news in Islamic Finance around the glob? May Allah strengthen your good efforts…
thank you for this list
Thank you for the list! I am putting a link in my blog for this very interesting page.
Shukran brother.
Pingback: SCF Journal Entry - 1/06/09 « United Against Islamic Supremacism
As Salamu Alaykum Sidi,
I hope all is well, Insh Allah.
I just wanted to make a suggestion of adding Sheikh Faraz Rabbani and Mufti Muhammad Ibn Adam Al Khawthari as scholars related to Islamic Finance. Both have written about Islamic Finance and Sheikh Faraz also teaches a course on money matters through seekersguidance.com. However, you are obviously welcome to add whomever you wish.
other than that hope all is well, Insh Allah.
jawad
Walaikum assalam Jawad,
Good to see you here
This page actually lists all those scholars who are “on Shari’ah boards” of Islamic banks, i.e. actively working in the industry. This is why I did not include Sheikh Faraz and Mufti Muhammad.
Hope all’s well at your end too, Insha Allah.
Haris.
JazakumuAllah!
very informative list !!
there should be a contact information at least email..
thanks
Hello 2009,
Islamic Finanace is a new site for sharing and hosting personal videos. I have been using Islamic Finanace to share videos with my friends and family. I would like to add you to the list of people I may share videos with.
thanks for Corporation
Osama Elamin
osamak79@gmail.com
Pingback: 136. Prof. Dr. Iman Attia « Sägefisch
Pingback: Iman Attia « Schariagegner
Pingback: Iman Attia: Sweet little lies « Schariagegner
List is very informative. If it was mentioned with m ail ids it will be useful.
rahaman
It is sad to see how Islamic banks and financial institutions are trying to protect themselves from world financial crunch by devising products that are truly deniable or at the best controversial according to the Maqasid as -Shari’ah. In fact, the whole idea of shari’ah-compliance descends into disrepute in contrast to the universal principle of the Maqasid as-Shari’ah and its evaluative criterion of the Maslaha (Wellbeing). ‘Shari’ah-compliance’ is a product-development idea. It has nothing to do with the greater vision of the ummah and human wellbeing, a universal theory of wellbeing and a solid epistemology of economic, financial and scientific theory. These latter attributes are subsumed in the Maqasid.
I come now to the idea of tawarruq, which is one of many elements that are being embraced within the controversial or outright incorrect concept of the shari’ah as a shari’ah-compliant instrument of financing. In fact, tawarruq is not only unacceptable under the shari’ah, rather it is inefficient and outright self-defeating in the future global financial markets. Let me explain.
Please note first that I specialize on the Qur’anic and sunnah (epistemological) foundations of Islamic economics, finance and socio-scientific studies in global comparative and analytical perspectives. I am not a fiqi person.
Here are my objections against tawarruq:
Consider the following example:
For example, F (financial institution) buys 10 tons of irons for $20,000,000 from the international market, so 1 ton is for $2,000,000. Then, F offers to C (clients) a ton of irons for $3,000,000 to be paid by instalments within 10 years. When C bought the irons, F offers to C to sell, by itself or another agent, his irons in behalf of him in the international market for $2,000,000, as F have bought it for. At the end F credit $2,000,000 in the account of C.
Questions for denial of tawarruq:
1. What is the basis of the profit or risk-evaluation of the 1million that F takes from C? profit, hence profit-sharing, is caused by the productive use of assets, finance, money and real economy. There is no legitimacy of profits simply by holding assets like iron by C.
The same argument applies on risk-measure, which cannot be surmised before the productive use of assets, finance, and things.
2. Why would F impose on C to sell at $2million per ton of iron? If there is good reason C can gain profit at will by selling at a higher rate.
3. What is the element of Maqasid for wellbeing (Maslaha) with a social value in the kind of financing? The financed assets are mega-types, not pervading to the grassroots. Hence there is no social linkage as in the case of the Maqasid. Islamic banks have forgotten the importance of this and have no organized Zakat, Sadaqah, Infaq fund.
4. If ijara-sukuk is used to capitalize periodical payments for 10 years say for paying off the $2million by C, such bonds cannot in fact be capitalized on asumed cash-flows or rates of returns. Both of these are facts of periodic occurrences of transactions subject to contingencies. Thus a valuation (formula) is needed of the type of forward overlapping generation model. Islamic banks and Islamic economic and finance intellection have not thought about such significant methods.
See Choudhury, M.A. The Islamic World-System, Chapter 8 on overlapping generation model, Routledge & Curzon, 2004.
Also see, Choudhury, M.A. “A generalized Islamic development financing instruments”, Indonesian Management and Accounting Research, 7:1,2008.
Professor Dr. Masudul Alam Choudhury
Department of Economics and Finance
Sultan Qaboos University
Muscat, Sultanate of Oman
did you forget Dr. Mahmoud El Gamal ? http://www.ruf.rice.edu/~elgamal/
Dear Schoolars
Assalam o Alaikum
May Allah be pleased with you and reward you with his best reward for your work for Muslims.
Nowadays many banks claim that they are dealing Islamic Financing. Please advise me on tow banks (Dubai Islamic Bank and Al-Baraka Islamic Bank), should we open account with them as they claim Islamic Financing (Riba Free). The mentioned banks are operating in Pakistan while their bases are in Dubai and Bahrain consequently.
Your early advice is highly appreciated.
These people are our asset
Teaching is an art and a good teacher is a good actor as well. I am sure every one of above mentioned schlars and advisers are parallel to none but I have the experience of getting a one day lecture at NIBAF Islamabad Pakistan in 15 Islamic Banking & Finance Certification from Mr. Najeed Khan. With a strange attire, glittering brown eyes & sharp reflexes, he has impressed me like no teacher did before. He is an extraordinary person in ordinary disposition. May God bless him with infite strength to serve His august cause.
i rise one question from all the above honorable that why Islam is not fully displayed to us there is a lot of controversial aspects. i am from Pakistan.here islam is hard to follow is islam is hard to follow. between five scholar two has point of view and three has other instead the fact that quran is one book
I sent the below email on 8 Oct 2009, please response me by my email.
Abdul Majid // October 8, 2009 at 6:59 am | Reply
Dear Schoolars
Assalam o Alaikum
May Allah be pleased with you and reward you with his best reward for your work for Muslims.
Nowadays many banks claim that they are dealing Islamic Financing. Please advise me on tow banks (Dubai Islamic Bank and Al-Baraka Islamic Bank), should we open account with them as they claim Islamic Financing (Riba Free). The mentioned banks are operating in Pakistan while their bases are in Dubai and Bahrain consequently.
Your early advice is highly appreciated.
Thanks for all of them, and i ask ALLAH to be like all of them
Jazakallah for this list. Really appreciate the efforts of Sheikh Taqi Usmani in the field of Islamic Finance
i dont like deobandi alims but this is great
if you like Mufti Taqi Usmani, contact him and ask him about the issues with others.
Islam was preserved in South Asia because of Darululoom Deoband and Nadwatul Ulama.
Most Respected Scholars in Islamic Banking!
Assalamo alaikum Wa Rahmatullahi Wa barakatuhoo. I have been studying the Islamic Banks functioning world over for quite a few years. Ma sha Allah, it was introduced after efforts. It was well received too. May Almighty protect it from evil eyes. Many a pious brothers and sisters still have reservations about it being Halal. It takes lot of time to convince such people as their fears are not fake either. It is true that many Islamic Banks offer Murabaha (Cost plus) linked schemes which are similar and more closer to conventional bank’s schemes. As rightly declared by Honourable Mufti Taqi Usmani Saheb (in his book on Islamic Finance), Murabaha concept does not represent total Islamic nature of financing policies, like Mudharaba, Musharaka etc. Due to safe playing policies adopted banks have been financing preferably under Murabaha, Ijarah, Sukuk categories of Islamic Finance so far. Definitely after a quarter century, this science of “Islamic Banking and Finance” deserves to be strengthened, made more Islamic in nature, and more transparent such that all muslims accept it without any reservation what so ever.
Strengthening of Mudharabah, Musharakah demands environment of more mutual confidence, trust which will definite lead to building of a more Islamic society.
May I expect some movement, more serious efforts and pressure from the Scholars, Management in near future.
I am very concerned about Riba. It appears that many Muslims are investing in stocks and shares which take interest and is therefore HARAM. Please give me an email address to put forward my questions. Thank nyou and cSalaams
I suggest Sheikh Al-Atram to be the chairman for the islamic finance.
assalaam alaykum …..my name is hamisi jumanne from Dar es salaam Tanzania my education lavel is THANAWIYY ,i want to study islamic knoledge please give me good infometion/system or give me name of good school for study islamic sharia im wait aswer from you.maa al salaam.
EID MUBARAK as i was reading i could not find single scholar from India whether their is a any institution which is teaching the principal of shariah fund in India can you please give some contact of the scholar from India or mail me thier email id to srinivas@fin-lex.co.in
regards
srinivasan
assalamu alaikum.
dear sir ,
i am arif ,i studied islam at arabic colloge and learned islamic finance also,now i am seeking a job in a islamic bank.my request is that if you a possibility to join in a bank,that ill be a great help for me,inshaAllah.
thanks………
yours sincerely,
arif abdeen.
Respected Teachers.
Banking and Islam
(My Queries and deep sense of hamdardi for my muslim brother who are working in Bank and people who cant afford to start business or house due to financial problems)
The bank and banking is view as a business organization working on interest .
Since interest is haram in Islam the entire set up of bank and banking and employee working in a bank is considered Haram by Islamic Scholars.
Riba (taking interest) A muslim is not allowed to take or give money on interest.
Riba is one of the seven major sin in Islam and unforgivable in nature.
The Ayat in regard to Riba came after Hijri to Yathrib , before this Ayat many Shahabis including the prophet had taken money on interest from the Jew money lender.
The Institute of Money lending business are harmful for those who take money from
this money lender who lend money on very heavy interest rate and are very strict and unreasonable this money lenders give money on mortgage of land , gold and other
valuable items . Where as law of Allah is based on mercy for his mankind Allah has made all the thing Haram to man which is harmful for him and all thing Hallal which is good for him in this world and hereafter .
During Prophet time it was common observation that those who had took loan from
these money lenders had to suffered miserably in hadiths it was said that the muslims should not become as cruel as this moneylender and should not give or take money on loan on interest Riba . Taking money on interest was very harmful for all muslim. It bought suffering to them and they would never rise up from poverty and debt .
Is Modern Banking and Money lender business of earliar time are they same or they are different ?
Banking have one principle which is very common with Money lender business is lending money on interest but the Institution of banking in modern time is vast and very much different than the money lenders of earliar time .
Banking Institution in modern time is an financial organization supported by the government and has been legalized and under the control of RBI .
Banking Institution has help the society at large in development in many field , unlike money lender business who use to charge heavy interest rate and were detrimental to the society at large .
Modern Banks accept deposit from their client and pay them interest while the money lenders does not accept deposit they work with their own capital .
Why bank is so important ?
The prime reason why most of the people all over the world keep money in bank is because their money are in safe custody and are protected against robbery or other calamities.
Many people have to save money for future they find bank more convenient as such to keep money in bank . Keeping money in bank is like keeping our money and valuable in the hand of people with whom it is safe and on whom they can depend upon .Saving money in bank for protection is the main reason why people keep money in bank while the Money lenders does not takes deposit nor they guarantee or are trustworthy so they can not be bank upon .
QUESTION ASKED TO THE ULEMAS
A. If a person want to keep money in conventional bank for safekeeping and not to earn interest is it still haram if he keeps money in bank and does not take interest ?
Bank is a legalized body and govern by the government of that country . Banking is also an international body and respected by Government of all the countries most of the business through out the world are conducted through banking and every one has trust in the bank . Those who are in business of import and export find it convenient to do their business with bank .
Businessman all over the world find it convenient to make payment to their party through cheque, the bank accept cheque an transfer the amount of the depositor into the amount of whom the cheque is issued.. We can also obtain money through traveling cheque or through ATM , one can do shopping without paying cash through credit or debit card .
Banking help a person to book his tickets on line saving time trouble and money . An old and sick person can also take help of telephone banking .
On other hand the amount of Interest involved in banking is very small compared to the interest charged by the money lenders plus money lenders does not provide all the facilities which a modern bank provides. If we can just consider that the low interest rate is not an interest but a service charge in compare to the services rendered .
Bank give money to three class of people it give loan to the government , to business organization and to individual for personal need like housing , marriage , medical , education etc It is found that many who had taken loan are able to get benefit from this loan.
Can Islamic Scholars take a liberant view and look with deeper insight may be it possible that the word interest would be viewed as services charges by bank , since the interest charges are not more than 9 to 10 percent annually .
There is very narrow line and difference between usury and business . Usury is not permitted in Islam where as business is permitted for example if a person want to invest his money in business with other business man he can invest his money without actually being the part of his business yet obtain profit which is hallal , while a person give a another business his money it is on interest than it is haram .
Islamic Scholars have no issue over the functioning on bank and the principle of bank except to Riba as such banks and banking is acceptable that is why Muslim financial institution are called Islamic Bank with similar function but difference in basic principle.
Islamic Bank : Now let us come to Islamic bank is there is any different between conventional bank and Islamic bank there is no difference in the objective and function of the bank.
The major difference is the Conventional bank is it is Lending oriented while
Islamic bank is Trade oriented .
Islamic bank are profit /loss sharing method ( Mushraka ) secondly Profit mark up sale or rental method ( Ijara , Murabaha , B-Maujjol). In Islamic bank the customer is a partner to the bank and give right to the bank to do business on their behalf on their amount of deposit the business is subject to loss and profit which the depositor has to bear the bank take care to do business in such a way to insecure security and profit to the depositor.
The Mutual fund banking by conventional bank are now more closer to the principle of Islam the money of the depositor in invested in mutual fund subject to market risk , some invest into most reliable and ethical companies and the profit or loss is shared. In mutual fund there is no interest involved it is free from riba . Most of the Scholars accept buying and selling shares , equity share with ethical business organization is hallal.
Since in India Islamic Bank facilities are not available and Muslims has to keep their account in conventional banks for save custody , or to carry out their business . It is found that many muslim are having account in conventional banks at the same time keeping with the law of sharia many muslims do not take interest from the bank.
Muslim Bank Employees .
Question to Ulemas
Now what is the status of muslim bank employees , bank employee is a commercial graduate whose job is to keep proper account and book keeping he keep the accounts of muslim as well as non muslim client . If a muslim client can have bank account than why a muslim cannot work in the bank when he himself does not take interest on his own saving in bank and he is honestly doing his duty so can a muslim work in Bank ?
Ill-treatment rendered to muslim bank employees by other muslim brothers
It is found that many muslim do not treat employees of bank as muslim but openly avoid them and ill treat them is it fair , No one had ever told the bank employees in the beginning that they should not join the bank, it is un Islamic , now since they have already given up half of their life they are told to quit their job or face social boycott .
In India where employment is so rare where muslim are denied job everywhere where would this people go only if they could find some other supportive job they would .
Very few people or business organization are doing fair business in fact many business organization have taken loan or loan on interest if dishonesty is every where why just target bank employee because you know there is interest and in other business you do not know .
Question to Ulemas
Should we boycott and illtreat muslim who are working in bank ?
We all know that hallal and haram is the citerior put on human being for test and trail of Allah the act of eating forbidden fruit was symbolic of not obeying Allah in fact there was nothing wrong in the fruit it self . Allah has forbidden many thing to muslim as haram but in case of emergency or for survival this haram or certain category becomes hallal.
There are many Muslim all over the world who have insurance for their car and have medical insurance if they do not have them they are subjected to punishment from the law of that country . We all are waking up to the modern need of muslim we are going to have Islamic bank and Islamic Insurance till then where this facilities have not reach we have to find some solution . Prophet Mohammad has said there is coming time people would face complicated and complex problem find solution to them .
Normally I do not read post on blogs, however I wish to say that this write-up very compelled me to try and do it! Your writing taste has been amazed me. Thank you, quite nice post.
Hello there, just become alert to your blog via Google, and located that it’s really informative. I?m gonna watch out for brussels. I will be grateful in the event you proceed this in future. Lots of other people will probably be benefited out of your writing. Cheers!
Check out a couple of banks near your home. If there is a crdeit union, check with them and see if you qualify for membership.Many places a minor can open an account for $50. It may be higher but most banks will give a youngster a break, knowing they may stay a customer for years. Yes, you will get interest but it may not be a very high rate. Ask the banks about that. You may be able to find some information at their websites but you can also call.
Dear All
Please keep wrting, this is a good platform where we can share al lots of information regarding Islamic Finance.
Regards
Assalam o alaikum,
I want to invest in Islamic funds.Some of the islamic banks are offering fixed returns (sort of term certificates)with no risk involved to the principle ammount.I want to know if this is allowed in islam.
I would also be thankful if some one could advise me which islamic bank is good and what type of funds are reliable with good return for short as well as long time saving.
Wa Alaikum Salam!
You have not mentioned your country of residence at present. Any way, you may check up yourselves the Islamic bank available nearby for the purpose.Please note that offering risk free return-oriented investment is against the basic of Islamic finance. Again, promising fixed return on investment also not accepted in Islam. You may please refer available information on internet as and when you require guidance. The basic of Islamic finance are available.
Assalamalaikum,
I wantrd to understand conflict of interest under Islamic shariah. I work for a company which needs some services and it cannot directly hire due to restrictions. I am holding a key position to make decisions and i want to open my own company with a partner inside and outside my company to provide services to my present company at the same market rate or less than the market rate. Is the income from this halal for me or not??
Appreciate if you can guide me.
Dear Sir,
I can deliver leased instruments to Organisations or individuals with their
preferred text verbiage as been approved by their bankers. We also offer
sales option to interested buyers. Our terms and procedures are so flexible
and workable by RWA clients. Our lease rate is (5.5+0.5)%+x%. X% IS Lessee
broker’s Commission and he determines his commission. Also we have
facilities to discount BG and Put you into PPP Trading.Contact me through this email:
(businessfundinginvestments02@gmail.com),
ashfaqkan.bg.forlease@gmail.com, or through
skype: (ashfaqahmedforyou) in other to furnish you with other information
i just wanted o know about the LIFE INSURANCE.
IS IT ALLOWED IN ISLAM OR NOT?
I AM REQUESTING MUFTI TAQI USMANI KINDLY ANSWER MY QUESTION.. I AM VERY CONFUSED ABOUT THIS.
question for the scholars
assalamu alaikum
i just want to know under the light of islam if dealing in forex is halal or haram if yes pls explain
jazakAllah
Assalamu Alaykum
I would like you to consider adding Mufti Ebrahim Desai and his son Mufti Ismail of South Africa as Shariah Advisors.
They currently play a key role in the IFS industry in Southern Africa and the UK.
You can contact them via their website: http://www.daruliftaa.net
JazakAllah.
Wassalamu Alaykum
All these ‘Scholars’ may be appointed as Heads of Central Banks.They may lead us to islamize that!
What is the ruling in participating in TIAA-CREF ?
naturally like your web-site however you need to check the spelling on several of your posts.
Several of them are rife with spelling problems and I
to find it very troublesome to tell the truth however I will definitely come
again again.
Thanks for your comment. I’m sorry to hear about the spellings. Can you point to some examples that I can correct?
Please tell me if the Trust Modaraba managed by al zamin is a fair riba free financial institution?
I’m Marsha Goodman, and I’m a Mortgage Loan Officer committed to helping all of my clients fully explore their home loan options and feel confident about their choices. In my 35 years of experience working with third party affordable housing assistance programs, conventional conforming and “jumbo loans”, government loans, home equity lines of credit and investment property loans and more, I’ve been able to share my knowledge of the mortgage industry and especially the Peachtree City market. My website offers resources and calculators for your convenience, and I’m available to assist you at any point along the way toward meeting your home loan goals.Email Us: honestloans@outlook.com