Hadith on Islamic Finance #21
Theme: The Virtue of Merchant & Business Allah’s messenger (ﷺ) said: ““No doubt, one had better take a rope
Hadith on Islamic Finance #22
Theme: The Virtue of Merchant & Business Allah’s messenger (ﷺ) said: “Two wolves free among sheep are no more destructive
Hadith on Islamic Finance #23
Theme: Business Etiquette in Islam Allah’s messenger (ﷺ) said: The Prophet (ﷺ) said, “The haughty, even with pride equal to
Hadith on Islamic Finance #24
Theme: Business Etiquette in Islam Allah’s messenger (ﷺ) said: “Whoever has the following four (characteristics) will be a pure hypocrite
Hadith on Islamic Finance #25
Theme: Business Etiquette in Islam Allah’s messenger (ﷺ) said: “Whoever (agrees) with a Muslim to rescind transaction (which he/she regretted),
Hadith on Islamic Finance #26
Theme: Business Etiquette in Islam Allah’s messenger (ﷺ) said: “Beware of excessive swearing in sale transactions, for it sells (the
Hadith on Islamic Finance #27
Theme: Business Etiquette in Islam The Messenger of Allah (ﷺ) happened to pass by a heap of eatables (corn). He
Hadith on Islamic Finance #28
Theme: Business Etiquette in Islam The Messenger of Allah (ﷺ) said, “The Muslim is the brother of another Muslim, and
Hadith on Islamic Finance #29
Theme: Business Etiquette in Islam It was narrated that ‘Abdullah bin ‘Amr bin al-Aas ( ) said that: “Allah’s Messenger
Hadith on Islamic Finance #30
Theme: Business Etiquette in Islam It was narrated that Jabir bin ‘Abdullah( ) said that: “A townsman should not sell
Hadith on Islamic Finance #31
Theme: Business Etiquette in Islam Allah’s Messenger (ﷺ) said:“Flesh which has grown out of what is unlawful will not enter
Hadith on Islamic Finance #32
Theme: Muamalah Virtues Allah’s Messenger (ﷺ) said: “Give the worker his wages before his sweat dries.” (Source: Sunan Ibn Majah,
Hadith on Islamic Finance #33
Theme: Business Ethics in Islam It was narrated by Ibn ‘Umar (may Allah be pleased with them both) that a
Hadith on Islamic Finance #34
Theme: Business Ethics in Islam Narrated by Abu Hurairah (may Allah be pleased with him), that the Messenger of Allah
Hadith on Islamic Finance #35
Theme: Muamalah Virtues Narrated by Abu Hurairah (may Allah be pleased with him), that The Prophet (ﷺ) said, “There was
Hadith on Islamic Finance #36
Theme: Muamalah Virtues Sakhr al-Ghamidi (may Allah be pleased with him) that the Prophet SAW said: “O Allah, bless my
Hadith on Islamic Finance #37
Theme: Muamalah Virtues It was narrated from Abu Hurairah (may Allah be pleased with him) that the Messenger of Allah
Hadith on Islamic Finance #38
Theme: Muamalah Virtues It was narrated that Anas (may Allah be pleased with him said): when this verse was revealed
Hadith on Islamic Finance #39
Theme: Muamalah Virtues It was reported by Jabir bin Abdullah (may All be pleased with him) that the Messenger of
Islamic Economics: Wage Maximization
It is proposed that the wage maximization is one of the fundamental principles of Islamic economics, and should be counterposed to the profit maximization principle of private capital. Wage maximization needs to be analyzed for both the macroeconomy as well as for the microeconomy, since wage maximization has to be realized at the level of the firms of the microeconomy. A mathematical model for the Islamic macroeconomy is postulated that determines how to maximize macroe conomic wages. A model for a firm is proposed that pays minimum wages based on macroeconomic wage maximization. Wages can be further augmented by wages having a variable component based on profit and loss sharing with the firm, and which entails a degree of risk. Fixing the variable wage component results in the rate of profit of all firms becoming equal to the macroeconomic wage maximizing macroeconomic rate of profit.
Notes from Fiqh & Finance: Empowering Muslims in Navigating a New Economic Paradigm with Emerging Financial Tools
At this point in history, the pace of practical developments in society is fast surpassing their ethical framing and religious jurispudential deliberations. One clear example is how we are far from reaching consensus in determining the permissublility of cryptocurrencies and other emerging financial tools in accordance to Islam. While some scholars and religious organisations have ruled cryptocurrencies as haram (prohibited), others hold an an opposing opinion.
Through a sharing on the diversity of approaches and views from a critical lens and Islamic Juristic perspective, the notes shared aims to foster a nuanced understanding of Islamic Financial ethics within contemporary financial landscape and explore a roadmap for Muslims to navigate and thrive in the complexities of today’s economic world, empowered, and guided by maqasid and Islamic principles.
How to Kickstart Your Personal Finance Journey as a Muslim
Managing finances through an Islamic lens involves a comprehensive approach, encompassing budgeting, investments, protection, and future planning. By adhering to these financial principles, Muslims can build a stable foundation for their families and contribute positively to society while remaining true to their faith.
Spot Bitcoin ETFs Unveiled: A Halal investor’s guide.
In a groundbreaking development, the approval of 11 Spot Bitcoin ETFs by the SEC in 2024 mirrors the transformative introduction of gold-backed ETFs in 2004. This decision bears profound implications, shaping the legitimacy, accessibility, and exposure of cryptocurrencies. The entrance of major financial entities into the crypto space is anticipated to streamline capital inflows, providing a regulated and efficient avenue for investors. Regulatory approval not only fosters accountability and transparency but also mitigates risks associated with centralized exchanges. Investors now enjoy the convenience of accessing real-time Bitcoin prices through traditional investment accounts, coupled with the advantage of lower fees. Despite the positive performance of Bitcoin in 2023, potential risks, such as market volatility and regulatory challenges, necessitate careful consideration. The decision to incorporate Spot Bitcoin ETFs into a portfolio hinges on individual risk profiles and financial objectives, requiring consultation with a financial advisor. The future may witness the emergence of Shariah-compliant Bitcoin ETFs, presenting opportunities for the Islamic finance sector to establish a Sharia framework for crypto certification.
Advancing The ESG Framework With Shariah Principles
In this paper, we explore how economic policy to support sustainability can coordinate efforts to tackle climate risk, overcome environmental challenges and ensure human security. The financial system faces very significant risks posed by climate change, as well as the transition to a low carbon economy. As such, the ESG framework as it is needs to be enhanced in order to be itself effective and sustainable. Hence, we propose an enhanced ESG framework that is grounded in strong Islamic fundamentals to anticipate gaps that can be exploited. Considering human relationships with the natural world from the perspective of Islamic teachings holds great promise for rethinking resource management and preservation. A fundamental role of humans in Islam is that of trustees of creation. The need to achieve sustainable economic development globally and its transition to a low-carbon economy requires strong policies and initiatives to drive green and sustainable finance for the purpose of achieving public policy objectives effectively.
