November 2023

Do you know if trading Shares is allowed in Islam?(God’s proposed structure – part 17)

Economics, Finance, Hadith, Quran

Do you know if trading Shares is allowed in Islam?(God’s proposed structure – part 17) 1.  Shares is a legal contract evidencing ownership in a company. 2.  Buying or selling shares requires a process of legal documentation and registration to ensure legality of the transactions and avoid fraud.  (Similar to all the legal and registration …

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Do you know the Social Safety net for businesses/individuals proposed in Islam? (God’s proposed structure – part 16)

Economics, Finance, Hadith

Do you know the Social Safety net for businesses/individuals proposed in Islam? (God’s proposed structure – part 16) Sahih Muslim Hadith 3981 (1556) (The creditor should take whatever amount is available): Narrated from Abu Said Al-Khudri (RAA): that during the Messenger of Allah’s (PBUH) lifetime, a person suffered losses due to the fruits he had …

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Do you know the serious shortcomings of Insurance in economics? (God’s proposed structure – part 15)

Economics, Finance

Do you know the serious shortcomings of Insurance in economics? (God’s proposed structure – part 15) Lets work through an example: 1. In the shipping trade the Insurance contract was created to guarantee loan repayment in case of shipping failure (sinking etc.). 2. This led to the Moral hazard (change of behaviour towards more risk …

Do you know the serious shortcomings of Insurance in economics? (God’s proposed structure – part 15) Read More »

Do you know there is NO concept of financial insurance, in Islam? (God’s proposed structure – part 14)

Economics, Finance, Hadith, Quran

Do you know there is NO concept of financial insurance, in Islam? (God’s proposed structure – part 14) Let us examine the structure of Insurance in four ways: Sunan Abu Dawud Hadith 3451 (Concerning Fixing Prices): It was recorded that Anas bin Malik stated: “The people requested: ‘O Allah’s Messenger, the prices have gone too …

Do you know there is NO concept of financial insurance, in Islam? (God’s proposed structure – part 14) Read More »

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