2) MODERN ISSUES IN
ISLAMIC JUDICIARY -
AYATULLAH SEYYID ABUL QASIM al-KHUI EXTRACTS
3) Interest Issues- Bank deposits /
Loans / Accounting
4)
PPT interest
issues by Moulana S M Rizvi | 5)
Selected Q&A from Ayatullah Sistani website
6)
Bank la rabawi-
usury free bank -ayatullah
Baqr as sadr
ARABIc
|
URDU
|
ENGLISH
The book is titled البنك
اللاربوي في الاسلام (which should be translated as Usury-Free Bank in Islam
and not interest-free because I it imposes a small interest [8% ]
was extracted by the revered author then simplified from the original book
titled Iqtisaduna اقتصادنا . This is why its pages are few. It is intended
to be a simple presentation of a grand idea. This book is actually
derived and simplified from the main source
Iqtisaduna.
7) Current Legal Issues Book
Extracts
- Banking and Financial Service index
- (Q.77) Is it permissible to take usury from the unbelievers,
especially when one live in their countries?
- Yes, al-adhhar,
taking usury from the unbelievers is permissible.
- (Q.78) Some publications have this sentence printed on them, "All
rights reserved for the writer or publisher". Should one observe such
prohibition? With the assumption of heeding the warning, is it
permissible to print such material [without taking the publishers'
permission] when social or religious good is at stake?
- Compliance is not obligatory, yet it is most befitting if permission
is sought, especially that of the author. Allah is All Knowing.
- (Q.79a) For a certain amount of money some people allow you to
use their name and a photo copy of their identity card, so that you can
buy company shares and the like. Some consider this as a buying and
selling transaction of the name. Is it permissible to enter into such a
transaction? Assuming it is not permissible, is there any legal
justification to rectify it?
- This is not a sale of the name. It is an authorisation from the
bearer of the name to another to make use of it and that of the ID card
in buying shares in exchange for some money. There is no harm in such a
transaction.
- (Q.79b) On the assumption of permissibility, could the parent of
a minor or his guardian have the discretion to use their name for the
same purpose? Also, to whom should the benefit be-the child or his
guardian?
- If no damage shall ensue, it is permissible; it is likely that the
benefit be the child.
- (Q.80 If you consider the assets of state owned banks or those of
joint ownership as majhoulil
malik (that whose owner
is anonymous), is there any justification to enter into dealings with
these banks in such a manner that it be free from the taint of usury?
- Answers to similar questions were provided in (Mustahdathatil
Masaa'il - Current
Issues), an addendum to our (Minhajus Saliheen -
the Path of the Good), a Manual of Articles of Islamic Acts, Ibadaat (acts
of worship). [The section in question will follow this one].
- (Q.81) Some banks provide card either free or for a fee. Those
holding such cards can: (a) Withdraw money from the bank's cash
dispensing machines without interest; there will, though, be a charge
for using the machine. (b) Should the borrower delay repayment of the
money for a month [or over] interest shall be taken from him by way of
service charge or the like. What is the ruling on the delay in repaying
the money and otherwise?
- There is no harm in withdrawing money with the intent of procuring
it on the basis of majhoulil
malik, not a loan. As for making the money good, it should be in
consultation with the Marji'.
One should not pay attention to the fact that the bank shall collect the
original amount plus the increase thereupon. If the bank asks the person
to pay back the amount withdrawn plus the increase he should pay both
the amounts.
- (Q.82) A privately owned bank invited its customers to deposit
money with the bank, say one thousand Dirhams that they can withdraw at
any time. After some time the bank shall give a specific gift to the
depositors. Is it permissible to enter into such a deal to get the gift?
- Depositing money with the condition of [getting] the gift is haraam.
The condition here means you make the [transaction] of depositing
contingent on an undertaking given by the bank to give the gift. If it
was just for the knowledge that the bank shall give the gift, it is not
going to dent the permissibility of depositing and that of receiving the
granted gift as halal.
Allah is All Knowing
5) Iqtisaduna ENGLISH
TransLation
Islam has answers to all
economic problems .In
view of the Global economic crisis there are
more people concerned & willing to consider
/ listen to alternative economic models
This monumental work
‘Iqtisaduna ‘ Our Economics '
by
The Author Ayatullah Baqr as-sadr
Born: 1353/1934 Martyred: 1400/ 9th
April, 1980
is available in
Arabic zip
file ( from
url
www.annajat.org/4um/showthread.php )
His article
What do you know about Islamic economics is
here
This work
in arabic ( available in print from many
online book stores incl www.al-khoei.org
&
www.almahdicentre.com
www.halalcobooks.com
www.ansariyan.net etc
) can
get distributed to economists/Key opinion
makers in the region for discussions /
policy /law changes
The book was also
translated in
english by WOFIS in
iran ( see below) in 1983 & redone in 1994
& is
available online in
pdf Here . (Index
of vol 2 part 1 is below) It can be
seen that translation
is inadequate & in
order to make it useful we must have a good
translation using present terminology &
make it available to all concerned
