Posts Tagged ‘shariah’

Islamic Banking And Finance

Thursday, October 13th, 2011
Islamic Banking And Finance - Darul Ishaat UK

Islamic Banking And Finance - Darul Ishaat UK

Islamic Banking And Finance – What It Is and What It Could Be

This text has been designed for use by professionals new to the field of Islamic banking and finance, and by students at undergraduate level or above. It covers the historical, theological, commercial, legal, institutional and macro-economic factors affecting the modern world of Islamic banking and finance and is organised into four main sections: Islam and the Shari’ah, Traditional Contract Forms, Contemporary Practices, and A Response to Capitalism. Views both for and against the current direction of the Islamic banking and finance industry are presented and a number of reforms are suggested at the institutional and contractual levels. Traditional and contemporary interpretations of Islam are contrasted, along with differences of opinion among the various schools of thought, so that the reader can better understand current discourse among scholars of Shari`ah. In a section devoted entirely to the modern application of Islamic contract law, fourteen case studies provide a detailed analysis of the extent to which modern Islamic financial products adhere to the legal principles outlined elsewhere in the book. Particular attention has been paid to clarity of expression in order that complex concepts can be absorbed quickly. To aid the learning process, an extensive index and table of contents allows ease of reference, and suggestions for further advanced reading are provided at the end of each section. Self tests allow students to keep pace with their progress, and these also act as a guide on content for more experienced readers. An extensive Arabic glossary is provided, and key terms are transliterated in the main body of the text.

Contributions from Taris Ahmad, Tarek El Diwany, Ahmed Fazel, Haitham al-Haddad, Salman Hasan, Sufyan Gulam Ismail, Muhammad Amin Kholwadia, Faizal Manjoo, Nejatullah Siddiqi, Bashir Timol, and Shaharuddin Zainuddin.

Cover: Hardback
Author: Edited by Tarek El Diwany
Publisher: 1st Ethical
Pages: 502

Available now from Darul Ishaat UK


The Inseparability Of Sharia & Tariqa

Friday, July 22nd, 2011
The Inseparability Of Sharia & Tariqa

The Inseparability Of Sharia & Tariqa - darul ishaat UK


The Inseparability Of Shari’a & Tariqa – Islamic Law And Purification Of The Heart

How did Islamic law develop?
What Are the Foundations of Islamic Jurisprudence?
What is the relationship between Shari’a and Tariqa?
What is Taqlid and does it still hold relevant in our time?
Which sciences must be mastered before one can interpret the Quran and hadith?

Shari’a & Tariqa is an essential book for anyone wishing to understand the foundations and application of Islamic law, and the relationshio that purification of the heart has with traditional Islamic jurisprudence. The esteemed author, in this, his last and final work, draws evidence from the Quran, Sunna, pious predecessors, past and recent scholars, history, and rationale to clarify the confusion many have when searching for a true scholar of Islam. This book explains how many of the controversies and sectarianism within the Ummah today are born out of ignorance of both Shari’a and Tariqa.

Praise of the Author from Distinguished Scholars

‘Shaykh and honorable Imam; jurist and noble scholar of hadith; fragrant flower of India and Arabia; master of spiritual realities [haqiqa] and allusions [majaz]; our leader and our blessing (from Allah)’. – Shaykh ‘Abd al-Fattah Abu Ghudda, Halab, Syria

‘It is evident to one who takes a look at his works that he had a brilliancy, both in knowledge and with the pen, like that of Ibn al-Jawzi and Imam Ghazali. Of the scholars of his era, I know of no one comparable to him in this regard, except Imam ‘Abd al-Hayy al-Farangi Mahalli (of Lucknow)’. – Sa’id Ahmad Akbarabadi, Aligarh, India

‘Morally outstanding, hadith scholar, remnant of the predecessors and splendor of the successors, blessed Imam, caller to Allah, my master and my teacher: Shaykh Muhammad Zakariyya’. – Sayyid Muhammad Ibn ‘Alawi al-Maliki, Madina Munawwara

Cover: Paperback
Author: Shaikh al-Hadith Muhammad Zakariyya Kandhelwi
Publisher: Madania Publications
Pages: 248
Size: 6 x 9 inches

Available at Darul Ishaat UK


Half the Earnings Belong to the Sea

Saturday, May 21st, 2011

First Words
Nature sometimes used the mute animals to teach the greedy and avid man a lesson in honesty. This is the story of a man who was dishonest because of excessive greed. Allah taught him a lesson through an ape. The Holy Prophet told us about it.

[Sayyidina Abu Hurayrah , reported the Messengerof Allah as saying that a man sold wine on a shop. (He wasso greedy that he was not satisfied with his unlawful earnings through wine and so engaged in cheating.) He mixed water intothe wine. He had a monkey with him who picked up his purse” and climbed up the top of the mast. There, he began to throw adinar into the sea and a dinar into the ship until he had divided them into two parts (half of it went into the sea because it was income from the adulterated and the man had no right over it).]
(Al·Harbi, Bayhaqi, Ahmad)

This is the story of a greedy trader who traded in wine, the worst of the unlawful things. His desire to cam more in a little time induced him to adulterate wine with water.

We_must know that wine was not disallowed by some religions before Islam, and it was not forbidden in the beginning in Islam too. Hence. we should not wonder why this man was blamed for adulteration and not for dealing in wine. Or, we should not ask why the Hadith has not questioned him for selling wine. We do not get the impression from the Hadith that there is nothing wrong in dealing in wine.

We must also remember that this is a story of one of the earlier people. Wine is unlawful, and it is a grave sin in the Shariah of Prophet Muhammad to have to do anything with wine including, drinking it, serving it, selling it, buying it, brewing it, preparing it or abetting and helping in these things.

Anyway, that man used to sell wine mixed with water and he carried on his business on a ship. He had a monkey with him who observed his conduct. One day. he suddenly picked up his master’s purse and climbed up the top of the mast of the ship so that no one could get hold of him. He opened the purse and threw one dinar into the sea and one into the ship. In this way, he threw away half of the money into the sea and half of it in the ship for the trader. He told him, as it were, that the money that was not his was returned to the sea.

Lessons and Messages

1. The main lesson the Hadith teaches us is that cheating and adulteration are wrong acts and are disallowed. It is unlawful to cheat anyone and the income therefrom is unlawful too.

The Shariah has termed adulteration as the worst of sins. The Messenger of Allah said  “Anyone who cheats or adulterates is not one of us.”
Unfortunately, our Muslim brothers are much involved in this sin. Greedy people, bereft of human qualities, adulterate every necessity of life—milk, honey, ghee (clarified butter), and so on. They also mix impurities in medicine. These people neglect the Hereafter and they sort of worship money. These filthy people play a horrible game with our society very boldly for there is no one to stop them.

So, it is a grave sin to sell adulterated items just as it is sinful to adulterate.

2. While Allah will punish the wrong-doer in the Hereaiier, sometimes He also gives him some punishment in this world. The problems and difficulties a man faces in this world are the result of his vvrong—doing.

Allah punished the trader in our story through his own monkey who threw away half his earnings in the sea.

3. The Hadith also reveals amazing secrets of the animals. Allah has given the animals too some intellect and ability to understand some things. The story shows that the monkey understood what was happening and could dispense justice.

4. We also learn from this case that if anyone has accumulated unlawful eamings then he must not use it but throw it away or give it to a needy person. The Shariah commands us in the first instance to desist from making unlawful earnings but if any of it comes in our hands then we must no use it.

Some people have money derived from interest. It is not proper to use it. Interest earnings are unlawful. It is better to give that money to a deserving person. The Ulama should be consulted to determine who the deserving person is.

This is an excrept from the book Stories from the hadith: