Do you know that in Islam you can set different prices for cash and credit transactions, as long as you only choose one of them? (God’s proposed structure – part 13) Jami At-Tirmidhi Hadith 1231 (Relating To The Prohibition Of Two Sales In One): Narrated from Abu Huraira: “The Messenger of Allah (PBUH) forbade having …
Do you know only the seller has the right to set the price, by mutual consent, in Islam? (God’s proposed structure – part 12) Sahih Al-Bukhari Hadith 2106 (Regarding the owner of a possession has to suggest a price for it): Anas (RAA) Narrated: The Prophet (PBUH) asked, “O Bani Najjar! Suggest a price for …
Do you know that fixing a price is forbidden, in Islam? (God’s proposed structure – part 11) Sunan Abu Dawud Hadith 3451 (Concerning Fixing Prices): It was recorded that Anas bin Malik (RAA) stated: “The people requested: ‘O Allah’s Messenger, the prices have gone too high, fix these prices for us.’ In response the Messenger …
Do you know how critically central family is to the socio-economics of Abrahamic religions, including Islam? (God’s proposed structure – part 10) The Fifth Commandment [Bible Exodus 20:12] states: [12 “Honor your father and your mother, that your days may be long in the land which Yahweh your God gives you.] Sahih Al-Bukhari Hadith 2067 …
Do you know the serious consequences of measuring less weight of a product, in Islam? (God’s proposed structure – part 9) [84. And to the people of Madyan (We sent) their brother Shuayb. He said: “O my people! Serve Allah, you have no deity but Him, and diminish not the measure or weight. I see …
Do you know that “Flipping”, for example booking an off-plan property or new car and then selling this “Booking/File” before taking delivery, is forbidden in Islam? (God’s proposed structure – part 8) Sahih Al-Bukhari Hadith 2132 (What is stated about the selling of foodstuff and its storage): Ibn Abbas (RAA) Narrated: “The Prophet (PBUH) had …
Do you know that a city dweller is forbidden to act as broker for a rural dweller in Islam? (God’s proposed structure – part 7) Sahih Al-Bukhari Hadith 2158 (Was it allowed for a person living in the town to sell the goods on behalf of a desert dweller without taking commission. Should he help …
Do you know that barter is forbidden in Islam? (God’s proposed structure – part 6) Sahih Al-Bukhari Hadith 2201 & 2202 (If one desires to purchase (better quality) dates in replacement of (lower quality) dates. [i.e. a form of Riba which is called Riba-Fadl]): Abu Said Al-Khudri and Abu Huraira (RAA) Narrated: Allah’s Messenger (PBUH) …
Do you know that barter is forbidden in Islam? (God’s proposed structure – part 6) Read More »
Do you really know how investors exit from Islamic Financial Intermediation structures, lets look at an example? (God’s proposed structure – part 5) Basic structures (that is building blocks) for Islamic Financial intermediation are: (1) Principle and Agent, (2) Partnership, and (3) Employer and Employee. During the trade/business cycle the invested funds are being used. …
Do you really know Islamic Financial Intermediation structures, lets look at an example? (God’s proposed structure – part 4) Basic structures (that is building blocks) for Islamic Financial intermediation are: (1) Principle and Agent, (2) Partnership, and (3) Employer and Employee. Lets take the Gulf used car market as an example. Traders specialize in Japanese, …
