Is it permissible to invoke the principle of need to allow the use Ribā-bearing (interest-bearing) loans as financing?
Mufti Taha Karaan responds to an article titled “Follow Islamic finance path in reforming Islamic law”. Both the article and Moulana’s response is included.
We are an Islamic School and wish to raise funds to construct a toilet block. We have been advised to hold a musical show. We are told that Mufti Kifayatullah has given a legal edict that permits the usage of riba [usury] for the construction of toilets. Would the same reasoning apply here as well? Also, should we be incorrect in our initial assumption, what if there were no other means to raise funds? Will this be deemed a case of darurah [necessity] and thereby render it permissible?
What is the Islamic ruling on copyright? Some authors and publishers spend a great deal of time painstakingly writing books on Islam, and this for them is obviously a means of rizq. Without their permission low quality versions of the same books are published and mass distributed around the world. Shop keepers sell these books at huge profits, justifying this by saying that it’s cheaper than buying the original versions. Some ‘ulama say all of this is okay because there is “no copyright” in Islam. Please clarify.
Ijārah, often translated as hiring or leasing, in Islamic mercantile law refers to the sale of the usufruct of corporeal entities or living beings, both man and animal, for an agreed upon period, in exchange for a known remuneration.
Muslims believe that Islam is suitable for all times and circumstances. This belief is sanctioned by copious textual evidences from the Holy Qur‘ān as well as a number of traditions of the Prophet, upon him peace and blessings. Furthermore, the success of Islam as a practical way of life, especially apparent in its formative years, has further strengthened this belief.
An article on mutually cooperative medical aid schemes written in Arabic.
Sasol’s recent share offering has challenged our assumptions on more than one level. In what follows an attempt is made not to simply formulate an opinion on the permissibility of the shares on offer in the Inzalo initiative, but to place this issue within a wider framework where ways are explored in which this one issue becomes a means to generate a keener sense of responsibility on the part of both laymen and ‘ulamā. It would be appropriate, however, to begin with a brief description of the offering.