There will be difficult times, and there are times that you’re in abundance. Hence, we need to spend wisely and manage our wealth before crisis presents itself. “What the wise man does in the beginning, the fool does in the end” (Old proverb). In Surah Yusuf 12:47-49, the Al-Quran has taught us to save what we have for difficult times. In those verses, we are reminded to be thrifty before… Read More »Wisdom Pays Handsomely
Investing in Stocks by Hadi Rofiee
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]Read More »Investing in Stocks
[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… Read More »The Objectives of Shari’ah in Sales Transaction
By Sheikh Zoubir Lakhdar Bouchikhi One day, a very wealthy man was walking on the road. Along the way, he saw a beggar on the sidewalk. The rich man looked kindly at the beggar and asked him why he was begging. The beggar said, “Sir, I’ve been unemployed for a year now. You look like a rich man. Sir, if you’ll give me a job, I’ll stop begging.” The rich man… Read More »The Story of 2.5%
Financial freedom is a concept not only centred on technical aspects or calculation part of money and financial management, but it goes beyond, as it encompasses our personalities, behaviour and ethical values. A truly financial freedom is achieved when one has the ability to resist and control certain things in dealing with the sources and uses of one’s money, hence partaking the righteous decisions in whatever situation, either in prosperity… Read More »Financial Freedom – What Does It Mean?