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Commercial Interest is not Forbidden in Islam


There are people who think that interest charged on ventures which are commercial in nature is not forbidden.
While clarifying this misconception, Ghāmidī writes: 

It should remain clear that whether a loan is acquired for personal, business or… Read More ...

The Divine Law » Economics »
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Islam has an Economic System


Most people think that Islam provides us with a complete economic system and the only thing needed is its implementation in favourable circumstances. This notion is not correct.
It needs to be appreciated that man has been blessed with… Read More ...

The Divine Law » Economics »
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Distribution of Inheritance Part (1)


كُتِبَ عَلَيْكُمْ إِذَا حَضَرَ أَحَدَكُمْ الْمَوْتُ إِنْ تَرَكَ خَيْرًا  الْوَصِيَّةُ  لِلْوَالِدَيْنِ  وَالْأَقْرَبِينَ بِالْمَعْرُوفِ حَقًّا عَلَى الْمُتَّقِينَ  فَمَنْ بَدَّلَهُ بَعْدَمَا سَمِعَهُ فَإِنَّمَا إِثْمُهُ عَلَى الَّذِينَ يُبَدِّلُونَهُ إِنَّ اللَّهَ سَمِيعٌ عَلِيمٌ فَمَنْ خَافَ مِنْ مُوصٍ جَنَفًا أَوْ إِثْمًا فَأَصْلَحَ بَيْنَهُمْ فَلَا إِثْمَ… Read More ...

The Divine Law » Economics »
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Distribution of Inheritance Part (2)


كُتِبَ عَلَيْكُمْ إِذَا حَضَرَ أَحَدَكُمْ الْمَوْتُ إِنْ تَرَكَ خَيْرًا  الْوَصِيَّةُ  لِلْوَالِدَيْنِ  وَالْأَقْرَبِينَ بِالْمَعْرُوفِ حَقًّا عَلَى الْمُتَّقِينَ  فَمَنْ بَدَّلَهُ بَعْدَمَا سَمِعَهُ فَإِنَّمَا إِثْمُهُ عَلَى الَّذِينَ يُبَدِّلُونَهُ إِنَّ اللَّهَ سَمِيعٌ عَلِيمٌ فَمَنْ خَافَ مِنْ مُوصٍ جَنَفًا أَوْ إِثْمًا فَأَصْلَحَ بَيْنَهُمْ فَلَا إِثْمَ… Read More ...

The Divine Law » Economics »
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Documentation and Evidence


O you who believe! When you acquire a loan for a fixed period, record it in writing, and let a scribe write it down between you with fairness; he who can write should not refuse to write, and just as… Read More ...

The Divine Law » Economics »

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