Q & A on Fiqh of Transactions

Fiqh of transactions is one of the topics in Islamic jurisprudence. Learning fiqh of transactions is exciting. It teaches us on how to make a ‘real deal’ with people in daily activities such as buying, selling, leasing, sharing etc.

Umar Ibn al-Khattab (may Allah be pleased with him) said:

“No one should sell in our markets except one who has understanding in the religion.” [Al-Tirmidhi]

If you have any questions related to fiqh of transactions, please let me know by sending your private message or leaving your comment here.

Jazakumullahu khayra.

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Muzakarah Penasihat Syariah Kewangan Islam Kali Ke-11 KLIFF 2016

Muzakarah KLIFF 2016

‘MenSyariahkan Manusia dan Memanusiakan Syariah’ adalah mesej utama yang disampaikan oleh Datuk Dr Mohd Daud Bakar dalam sesi perasmian.

Dr. menekankan tentang keanjalan Syariah dan bagaimana Syariah seharusnya beriteraksi dengan keadaan semasa.

Syariah adalah kehidupan. Aspek kemanusiaan penting dalam berijtihad. Perlu seimbang dan moden apabila memberi pendapat kepada masyarakat.

Penasihat Syariah adalah pemegang obor Syariah dan penjaga cop mohor fatwa. Mereka mesti bersifat rendah diri dan tidak boleh berlebihan.

Syariah ada tanggungjawabnya. Apa yang kita cakap, kita tutur, kita tulis, ada tanggungjawab. Semua akan dihitung. [click to continue…]

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Investing in Stocks

Investing in Stocks

Investing in Stocks by Hadi Rofiee

[The original posting can be found at: http://alnaqiy.com/article/investing-in-stocks/]

When you buy stock, you buy part of the corporation that issued the stock, or offered it for sale in an initial public offering (IPO). As a stockholder, you have equity, or ownership, in the corporation. From an Islamic legal perspective, this is lawful because you become a partner in the business.

Your equity is likely to be small. Most corporation issues millions or billions of shares. As an individual investor, you’re likely to own hundreds or thousands of those shares, equal to just a fraction of 1% the company. But your equity gives you the right to vote on some of the company’s policy decisions and for the board of directors. And you can profit if the stock’s price increases, if the company pays you dividends, or a portion of its profits, or if both of those things happen.[1] [click to continue…]

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My Teacher and I [18]

Value Investing

Value investment.

Always keep track of the companies’ chart movement as well as its financial and business performance.

We do not look into charts only. When you study a company or counter, look into their P&L and shareholders too.

My Teacher and I [17]

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The Application of Maqasid al-Shariah in Islamic Finance

According to Ibn Ashur, maqasid al-Shariah (objectives of Shariah) is a term that refers to the preservation of order, achievement of benefit and prevention of harm or corruption, establishment of equality among people, causing the law to be revered, obeyed and effective as well as enabling the ummah to become powerful, respected and confident.

Hifz al mal (preservation of wealth) is one of the most important objectives of the Shariah. The Muslim jurists assert that the concept of hifz al mal goes beyond its literal meaning. It does not mean to preserve the wealth per se, but the concept also covers the encouragement to generate, accumulate, preserve as well as distribute the wealth in a just and fair manner. [click to continue…]

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The Objectives of Shari’ah in Sales Transaction

[The original posting can be found at: http://alnaqiy.com/article/the-objectives-of-shariah-in-sales-transaction/]

Islam and the Economic System

Islam differs fundamentally from man-made systems in defining the economic system. In Islamic economic principles, all the wealth belongs to Allah and the human is the trustee of the wealth. Islam as a complete way of life did not set any rulings, be it in ibadah or muamalah, without any means.

For example, when Islam prohibited riba, Islam aims to encourage people to spend and invest which generates economic activity and is healthy for the economy. The more spending and investment, the more jobs are created and more wealth is circulated. [click to continue…]

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