A fixed return is considered riba and is therefore haraam (not permissible).
What payment options (e.g. credit cards) are permissible if I am selling on a website?
The question you have asked has no simple answer at all, and below is my brief explanation of options available to you although some suggestions are controversial and there are valid differences of opinion. And Allah knows best. Firstly, all online purchases function by utilising one of the following options: i) Debit cards ii) Credit cards iii) Electronic transfers from …
What percentage of currency should we invest in gold/silver to protect our wealth?
You should keep in paper currency only those funds that are needed to be used, and all the rest should be converted to whatever has intricsic value.
I have left ribah but my wife refuses to abandon credit cards and doesn’t wear hijab in public.
If, despite a husband’s best efforts to get her to desist, a wife insists on keeping and using a credit card and on not wearing hijab in public then she should be divorced. Ed: “Best effort” on the part of the husband implies prior “best effort” in his own practice of the Deen.
Islam and Ribah
{mp3}fiir/ribah1{/mp3} Download ~50MB .MP3
OBAMA’S AFGHAN SURGE, PAKISTAN’S MOMENT OF TRUTH AND DEATH OF THE US DOLLAR
It must be particularly hurtful to that westernized and secularized elite, both in and out of Pakistan, that essays such as this should be penned by scholars of Islam who are unafraid to proclaim the truth in the faces of the world’s greatest tyrants. I believe that the US President’s recent announcement of a dramatic increase in US troops to …
The Qur’an, Crime and the Economy
This is the first of four Ramadan Special essays published by Jama Masjid, San Fernando, and written by Islamic scholars Imran N. Hosein and Siddiq A. Nasir, that turn to the blessed Qur’an in an attempt to respond to rampant crime. Rallies, marches, changing Ministers of Government and Police Commissioners, etc., can never be a substitute for knowledge. The next …
Islam and the Future of Money
I am happy that this booklet was written here in Kuala Lumpur, Malaysia, a city which has been so kind and hospitable to me over the years, and was completed in blessed Ramadan 1428H while I am still engaged in a year-long Islamic lecture-tour, and far away from the comforts of my home in the Caribbean island of Trinidad.
A writer who writes a book while travelling, as many distinguished scholars of Islam have done in our glorious past, suffers from the disadvantage of not having access to his library of books, and often has to quote from memory. As such, minor errors can result from lapses of memory. I seek forgiveness for such.
The size of this booklet has been kept deliberately small in order to encourage our people to read it.
The language used is also quite simple and free from such technical economic jargon as fiat money.
Hence the average reader should encounter no difficulties in respect of language. It is very likely that terrible events will unfold in the world of money within a brief time of the publication of this booklet that would validate the analysis conducted. Hence readers should not delay in assessing the arguments raised and, if found convincing, in searching for and adopting a proper response to the challenge.
Islam, Murabaha and Fixed Deposits
Islam has declared war on the moneylender who demands interest. It did so in the very last divine revelation (al-Baqarah, 2:279) to come down in the Holy Qur’an. Here is that last revelation: “O ye who believe! Fear Allah, and give up what remains of your demand for usury (i.e., the interest due on a fixed deposit, or on any …
The Prohibition of Ribah
The Prohibition of Ribah in the Quraan and Sunnah, a seminar by Maulana Imran N. Hosein, Held in 2002 in Cape Town, South Africa. If you having problems downloading, try to right-click on the link, then select “Save (link) As…” to save it. Session 2 | Session 2 Q&A | Session 3 (incl Q&A) | Session 4 (incl Q&A) Unfortunately …