Renaissance Monthly Journal
Renaissance | May - 1997
A monthly journal promoting research and original thinking in the light of the original sources of Islam.
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Riba,or interest, is sometimes confused with rent, whereas the two are quite different from each other.
Rent is a payment made periodically for the use (not consumption) of an asset, for example for the use of some land, building a machinery.
On the other hand, two simultaneously present conditions
Some people argue that only usury (interest at such an exorbitant rate that it exploits the debtor) has been declared unlawful by Islam. Therefore, interest at a mutually acceptable rate can be charged, which is usually the case in loans given for commercial purposes. It is in loans given for the purpo
Both these surahsform a pair with regard to the subject discussed in them. The first surahsubstantiates the Day of Judgement by the testimony of the reproaching soul, while the second surahsubstantiates this claim by the divine inspiration of good and evil in a person’s sou
A detailed analysis of the economy reveals that the whole economic set-up of our country is based on great vice and evil.
The foremost evil in it is the institution of Banking. Through this institution, the whole nation’s wealth is rendered at the disposal of a few individuals. In the guise of nation
In his essay ‘The Economic Possibilities for our Grandchildren’ Keynes envisaged a future that would afford people the possibility to ‘live wisely and agreeably and well.’ At this stage, he wrote ‘I see us free, therefore, to return to some of the most sure and certain princ
Question: What is the status in Shari’ahof Friday as the weekly holiday? Is all the furore in this regard valid?
Answer: The assertion that Friday should be the weekly holiday has no basis in Shari’ah. In fact, it is not even a matter pertaining to Shari’ah. As far as the Qur&r
Book: Towards Understanding the Qur’an(English Version of Tafhimu’l-Qur’an)
Author: Sayyid Abul A’laMawdudi
Translator: Zafar Ishaq Ansari
Nadir Aqueel Ansari
One of the issues regarding payment of Zakahis that of Tamlik, an Arabic term used by Muslim doctors of law, which has been interpreted as ‘complete and exclusive personal possession’. It means that in order to pay Zakah, one has to hand it over to the exclusive posses
In the following part of an article by Muhammad Akram Khan, Chief Accounts Officer in the Ministry for Foreign Affairs, the writer explains that, at macroeconomic level, interest can never be accepted as a benevolent institution and urges those who support interest to consider its far reaching implicati