Learn about islam
Islam has laid down all legislation that takes into account man’s interest, protects his professional and financial rights, whether he is rich or poor, creates a close-knit society and helps develop it in all aspects of life.
Examples of Business Ethics which Islam Has Stressed Islam instructs its followers to observe certain ethics when they engage in financial transactions, including the following: Honesty Islam requires its adherents to be honest in their dealings with Muslims and non-Muslims alike. Indeed, honesty is one of the most important moral…
Gambling Gambling gets gamblers caught in the grip of addiction. What is Gambling? Gambling is the act of risking money upon the outcome of a contest of chance. In this way, a person risks money upon an agreement that he or someone else will receive something of value in the…
Injustice and Wrongfully Taking Other People’s Property Taking other people’s property wrongfully, no matter how small it may be, is one of the most heinous sins in Islam. Injustice is one of the most heinous deeds against which Islam has vehemently warned. The prophet ﷺ said in this connection, “Beware…
Deception through Ignorance and Uncertainty (Gharar) A contract that is based on uncertainty and ignorance (gharar) is one which involves a certain amount of risk or deception which is bound to lead to disagreements and disputes between the parties to the contract or cause one of them to wrong the…
Ribaa deprives wealth of all blessing and is bound to lead to economic crises. What is the ruling regarding a person who embraces Islam while he is a party to an usurious contract? This involves two cases: If he is the party that takes interest, he is only entitled to…
Detrimental Effects of Ribaaon the Individual and Society Islam has strictly forbidden ribaa due to the great deal of harm it is bound to inflict on both the individual and society. Such detrimental effects include the following: It causes a severe disorder in the distribution of wealth and widens the…
Punishment for Ribaa Those who engage in usurious transactions expose themselves to a war which Allah ﷻ and His Messenger ﷺ have declared on those who deal with ribaa, thereby becoming their enemies. As the Qur’an states, “If you do not do so, be warned of war from Allah and…
The Islamic Ruling on Ribaa Textual evidence from the Qur’an and the Prophet’s traditions, points out that ribaa is strictly forbidden in Islam, that it is one of the major sins and that Allah has not declared war on any one of the sinners except those who deal with ribaa.…
Usury (Ribaa) Usury (ribaa): is the practice of assigning a fee on credit and other borrowed assets on top of the principal borrowed amount, thus making a profit on the loan, which is strictly prohibited in Islam due to the harm and injustice involved in it. Ribaa is of different…
Your Financial Transactions Allah commands and encourages Muslims to earn their livelihoods. This is clear in a number of aspects including the following: The Prophet has forbidden us from begging as long as we are able to earn a livelihood and informs us that those who engage in begging despite…
