I dont think Islamic banks is 100% free from ribaa, how comes they pay me profit in my diposite and there is no way they are allowed to deduct loss if they lose money, isnt that riba, funny enough their rate of profit is constant and its the same interest rate in my country( Kenya). If i asked them i dont want profit, let me just keep my money there they discourage you by charging fee.
You’re right. A lot of Islamic banks are just Islamic by name. I’ve seen a sheik refusing to endorse an Islamic bank because he found out the questionable business model. However, there are legitimate Islamic banks out there, it’s just hard to find them for regular people.
As long as the money is fiat currency issued by central banks on interest, or if there is fractional reserve banking in operation at the bank, then it will always be riba to some degree
Good initiative please keep it up, coz many of us are most likely to be resurrected from the captivity of world economic eclipse. So, Islam is the answer to all global challenges in all aspects of humanity life.
In that case deposit is consideration (payment) and subject matter is what you get from bank for it (might be investment of sorts, depending on the bank) - I assume we are talking Islamic bank.
Great course! What about when people take loans not because they need it, but instead to use the money for their own investment purpose? This isn’t charity anymore
Assalam alaikum Renting IT peripherals and maintenance to use it for a certain period of time. Subject matter: IT peripherals and it's maintenance during the period of contract.
Assalamualaikum, can i have your views on how Murabahah contract is viewed to be shariah compliant. I believe some islamic banks uses this to help finance buying cars/houses to fellow muslims.
In Europe there are a few banks here and there. To finance real estate or business, they claim to be Sharia-compliant and have Halal certificates. From a consumer perspective, the contract between the bank and the borrower appears to be Sharia compliant. However, we do not know if the bank is involved in transactions that are not Sharia compliant, either intentionally or due to regulations in the country where it is located. Does this affect my contract as a borrower with the bank?
Salaam, Wondering if you could be kind and answer if it is permissible to have a benefit car through one's workplace as a Muslim? Thank you for your reply!
@@AlmirColan Do you mean that it is permissible for Muslims to have a benefit car? Is there no interest involved? Thank you for your knowledge and guidance
Salam. The task is to identify the subject matter of every transaction? Mr Colan, are those goods and services? or sales and purchases? receipt & payment? I'm humbly learning. Thank you.
Leasing a property- subject matter is just right to use the property for a specified period by lessee while lessor is still owner of the property. 21.20- Can you clarify what you mean by ‘lessor is entitled to rental payments and he is also liable for any expenses relating to the ownership of loss in asset if any’. Does the rental payments which lessor is entitled to from lessee consist of the regular pre-specified annual service charge? Please clarify ‘lessor is liable for any expenses relating to the ownership of loss in asset if any’- would this entail any works which lessor wants to carry out on the property or property site that is not specified in the annual service charge works? Who would be liable for council tax charged by the local authority or government?
If the freeholder splits up a property or house into various units and local government or government bodies ensure that the units remain intact rather than the buyer who has acquired the individual unit or units which form part of a bigger lease and has not consented for the unit/s to remain intact, who would be liable for council tax for those respective unit/s? The property is a house conversion split into separate units and consists of a headlease on ground floor and first floor and another ground floor lease subject to the ground floor headlease comprising of whole of ground floor. There is also an insurance contract/policy involved which was planted in the auctioneer legal pack at the time of acquisition. The buyers contract with auctioneer is for the acquisition of the whole building although only part of the ground floor unit was registered at Land Registry under the buyer’s title.
We could think of that as part of rights - maybe better way to put it is “marriage itself”, as in entering into mutual agreement (for marital relationship) with rights and responsibilities
