Yearly Archives: 2017

"Ustaz, I have tried to seek financing from Islamic banks but they rejected it. Would it be sinful to get a riba-based financing from a conventional bank and would it…

Signs of the collapse of the world financial system have emerged, causing great panic to people all over the world. Many governments called upon economists and experts to find a…

All Muslims are duty-bound to fast during the whole month of Ramadhan based on the evidence from the Qur'an in Surah al-Baqarah, verses 183 and 185. We must have faith…

One must bear in mind that the prohibition of interest in Islam does not mean that savings will not be rewarded. It also does not mean that the cost of…

One must refrain from making a direct comparison between Islamic banking and conventional banking (apple to apple comparison). This is because they are extremely different in many ways. The key…

Allah s.w.t. prohibits Muslims from consuming property without due rights (bathil). The Prophet s.a.w. also elaborates the meaning of ‘bathil' with the prohibition of gharar. According to scholars, gharar is one of the branches…

One critical aspect in particular highlighted : • The high profit rate charged by Islamic Bank for their financing product as compared to the interest rate charged by Conventional Bank.…

Even if the moral law has been strictly observed in every step of the process of acquiring wealth, our wealth still needs justification on another level and this is where…

"Dayn" means "debt" and "Bai' " means sale. "Bai'-al-dain", therefore, connotes the sale of debt. According to Majalah al-ahkam al-adliyah, no 158 ; Dayn defines as the thing due i.e…

May 1 (Bloomberg) -- Sheikh Nizam Yaquby is the gatekeeper to the $1 trillion market for managing Muslim wealth. Yaquby, who lives in Bahrain, says he's on advisory boards of 40 finance…