Are Smart Contracts allowed in Islam?  (The Digital Economy: Case Study 2 – Part 3/4)

Case Study, Digital, Economics, Finance

Are Smart Contracts allowed in Islam?  (The Digital Economy: Case Study 2 – Part 3/4) Write your view in the comments below: “Allowed” or “Forbidden”.  Then read till the end for the answer. A Smart Contract is standardized and automatically executed and recorded when the predefined input parameters have been successfully met.  For example, if …

Are Smart Contracts allowed in Islam?  (The Digital Economy: Case Study 2 – Part 3/4) Read More »

Is Blockchain allowed in Islam?  (The Digital Economy: Case Study 2 – Part 2/4)

Case Study, Digital, Economics, Finance, Hadith

Is Blockchain allowed in Islam?  (The Digital Economy: Case Study 2 – Part 2/4) Write your view in the comments below: “Allowed” or “Forbidden”.  Then read till the end for the answer. Let us look at some of the characteristics of a Blockchain: 1)  It is similar to the process of having the information audited …

Is Blockchain allowed in Islam?  (The Digital Economy: Case Study 2 – Part 2/4) Read More »

Is Public Distributed Ledger (PDL) allowed in Islam?  (The Digital Economy: Case Study 2 – Part 1/4)

Case Study, Digital, Economics, Finance, Hadith

Is Public Distributed Ledger (PDL) allowed in Islam?  (The Digital Economy: Case Study 2 – Part 1/4) Write your view in the comments below: “Allowed” or “Forbidden”.  Then read till the end for the answer. A Publicly Distributed Ledger, is a set of information (Ledger) that is made Publicly available and copies of which are …

Is Public Distributed Ledger (PDL) allowed in Islam?  (The Digital Economy: Case Study 2 – Part 1/4) Read More »

From a health and environmental perspective, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 3/3)

Case Study, Economics, Finance

From a health and environmental perspective, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 3/3) 1. Write your view of what the Health and Environmental considerations suggest in the comments below: “Wholesale Distributor” or “City Client”.  …

From a health and environmental perspective, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 3/3) Read More »

From an Economic perspective, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 2/3)

Case Study, Economics, Finance

From an Economic perspective, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 2/3) 1. Write your view of what Economics suggests in the comments below: “Wholesale Distributor” or “City Client”.  Then read till the end for …

From an Economic perspective, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 2/3) Read More »

In Islam, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 1/3)

Case Study, Economics, Finance, Hadith

In Islam, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 1/3) 1. Write your view of what Islam prescribes in the comments below: “Wholesale Distributor” or “City Client”.  Then read till the end for the answer. …

In Islam, should the dairy farmer sell the milk to a wholesale distributor at the farm, or directly to the clients in the city?  (Case Study 1 – Part 1/3) Read More »

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 …

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

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 …

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

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 »

Subscribe Now to Get Regular Updates