If they had upheld the Torah and the Injil and what had been sent down to them from their Lord (now i.e Holy Quran), they would surely have had plenty to eat from above them and from beneath them. Among them are moderate people.As for most of them, evil is what they do.
Al maeda 66
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Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts
Saturday, October 1, 2011
Monday, August 29, 2011
Usuary is one of the biggest curse
For the wrong-doing of the Jews, We made unlawful for them certain good foods which has been lawful for them, and for their hindering many from Allâh's Way;
And for their charging Riba (usury or interest) while they were forbidden from it, and for their devouring of the properties of the people by false means. We have prepared, for the disbelievers among them, a painful punishment.
An-Nisa 160-161
Comments
Islam is the only religion which ensures the human rights of its followers .Islam forbids from usury as it thrives the exploitation of the poor and needy.Islam has given detailed and evergreen guidelines about financial matters.
In the above verses the point to ponder is that usury and eating the properties of others are such big crimes that it earned the Jews the wrath of Allah.
An interesting point is that from this verse we can conclude that Jews were the first ones to create this cursed financial system and this banking system is also the product of Jewish minds.
We should avoid taking interest from this current banking system.Although some banks are doing he business of Islamic banking but i don't think that it is free of doubts either.Saving accounts are particularly highly questionable,so try to avoid it.
I saw a decree (fatwa) of a cleric of Minhaj Ul Quran ,(the organization of Dr. Tahir Ul Qadri) that p.l.s accounts are halal as they deal on the basis of profit and loss instead of fixed deposit.This decree seems to be somewhat satisfactory that accounts dealing on profit-loss basis are permissible.
And for their charging Riba (usury or interest) while they were forbidden from it, and for their devouring of the properties of the people by false means. We have prepared, for the disbelievers among them, a painful punishment.
An-Nisa 160-161
Comments
Islam is the only religion which ensures the human rights of its followers .Islam forbids from usury as it thrives the exploitation of the poor and needy.Islam has given detailed and evergreen guidelines about financial matters.
In the above verses the point to ponder is that usury and eating the properties of others are such big crimes that it earned the Jews the wrath of Allah.
An interesting point is that from this verse we can conclude that Jews were the first ones to create this cursed financial system and this banking system is also the product of Jewish minds.
We should avoid taking interest from this current banking system.Although some banks are doing he business of Islamic banking but i don't think that it is free of doubts either.Saving accounts are particularly highly questionable,so try to avoid it.
I saw a decree (fatwa) of a cleric of Minhaj Ul Quran ,(the organization of Dr. Tahir Ul Qadri) that p.l.s accounts are halal as they deal on the basis of profit and loss instead of fixed deposit.This decree seems to be somewhat satisfactory that accounts dealing on profit-loss basis are permissible.
Sunday, August 28, 2011
Rights of orphans
They ask your legal instruction concerning women, say: Allâh instructs you about them, and about what is recited unto you in the Book concerning the orphan girls whom you give not the prescribed portions (as regards Mahr and inheritance) and yet whom you desire to marry, and (concerning) the children who are weak and oppressed, and that you stand firm for justice to orphans. And whatever good you do, Allâh is Ever All¬Aware of it.
An-Nisa 127
An-Nisa 127
Saturday, August 27, 2011
Warning for misers
Those who are miserly and enjoin miserliness on other men and hide what Allâh has bestowed upon them of His Bounties.And We have prepared for the disbelievers a disgraceful torment.
And (also) those who spend of their substance to be seen of men, and believe not in Allâh and the Last Day [they are the friends of Shaitân (Satan)], and whoever takes Shaitân (Satan) as an intimate; then what a dreadful intimate he has!
And what loss have they if they had believed in Allâh and in the Last Day, and they spend out of what Allâh has given them for sustenance? And Allâh is Ever All¬Knower of them
An-Nisa 37-39
Monday, August 22, 2011
Warning for misers
Those who are miserly and enjoin miserliness on other men and hide what Allâh has bestowed upon them of His Bounties. And We have prepared for the disbelievers a disgraceful torment.
And (also) those who spend of their substance to be seen of men, and believe not in Allâh and the Last Day [they are the friends of Shaitân (Satan)], and whoever takes Shaitân (Satan) as an intimate; then what a dreadful intimate he has!
And what loss have they if they had believed in Allâh and in the Last Day, and they spend out of what Allâh has given them for sustenance? And Allâh is Ever All¬Knower of them
An-Nisa 37-39
And (also) those who spend of their substance to be seen of men, and believe not in Allâh and the Last Day [they are the friends of Shaitân (Satan)], and whoever takes Shaitân (Satan) as an intimate; then what a dreadful intimate he has!
And what loss have they if they had believed in Allâh and in the Last Day, and they spend out of what Allâh has given them for sustenance? And Allâh is Ever All¬Knower of them
An-Nisa 37-39
Dont eat up properties
O you who believe! Eat not up your properties among yourselves unjustly except it be a trade amongst you, by mutual consent. And do not kill yourselves (nor kill one another). Surely, Allâh is Most Merciful to you.
And whoever commits that through aggression and injustice, We shall cast him into the Fire, and that is easy for Allâh.
If you avoid the great sins[] which you are forbidden to do, We shall expiate from you your (small) sins, and admit you to a Noble Entrance (i.e. Paradise).
An-Nisa 29-31
And whoever commits that through aggression and injustice, We shall cast him into the Fire, and that is easy for Allâh.
If you avoid the great sins[] which you are forbidden to do, We shall expiate from you your (small) sins, and admit you to a Noble Entrance (i.e. Paradise).
An-Nisa 29-31
Wednesday, August 17, 2011
Quranic guidelines for inheritance
Allâh commands you as regards your children's (inheritance); to the male, a portion equal to that of two females; if (there are) only daughters, two or more, their share is two thirds of the inheritance; if only one, her share is half. For parents, a sixth share of inheritance to each if the deceased left children; if no children, and the parents are the (only) heirs, the mother has a third; if the deceased left brothers or (sisters), the mother has a sixth. (The distribution in all cases is) after the payment of legacies he may have bequeathed or debts. You know not which of them, whether your parents or your children, are nearest to you in benefit, (these fixed shares) are ordained by Allâh. And Allâh is Ever All¬Knower, All¬Wise.
In that which your wives leave, your share is a half if they have no child; but if they leave a child, you get a fourth of that which they leave after payment of legacies that they may have bequeathed or debts. In that which you leave, their (your wives) share is a fourth if you leave no child; but if you leave a child, they get an eighth of that which you leave after payment of legacies that you may have bequeathed or debts. If the man or woman whose inheritance is in question has left neither ascendants nor descendants, but has left a brother or a sister, each one of the two gets a sixth; but if more than two, they share in a third; after payment of lagacies he (or she) may have bequeathed or debts, so that no loss is caused (to anyone). This is a Commandment from Allâh; and Allâh is Ever All¬Knowing, Most¬Forbearing.
These are the limits (set by) Allâh (or ordainments as regards laws of inheritance), and whosoever obeys Allâh and His Messenger (Muhammad SAW) will be admitted to Gardens under which rivers flow (in Paradise), to abide therein, and that will be the great success.
And whosoever disobeys Allâh and His Messenger (Muhammad SAW), and transgresses His limits, He will cast him into the Fire, to abide therein; and he shall have a disgraceful torment.
An-Nisa 11-14
In that which your wives leave, your share is a half if they have no child; but if they leave a child, you get a fourth of that which they leave after payment of legacies that they may have bequeathed or debts. In that which you leave, their (your wives) share is a fourth if you leave no child; but if you leave a child, they get an eighth of that which you leave after payment of legacies that you may have bequeathed or debts. If the man or woman whose inheritance is in question has left neither ascendants nor descendants, but has left a brother or a sister, each one of the two gets a sixth; but if more than two, they share in a third; after payment of lagacies he (or she) may have bequeathed or debts, so that no loss is caused (to anyone). This is a Commandment from Allâh; and Allâh is Ever All¬Knowing, Most¬Forbearing.
These are the limits (set by) Allâh (or ordainments as regards laws of inheritance), and whosoever obeys Allâh and His Messenger (Muhammad SAW) will be admitted to Gardens under which rivers flow (in Paradise), to abide therein, and that will be the great success.
And whosoever disobeys Allâh and His Messenger (Muhammad SAW), and transgresses His limits, He will cast him into the Fire, to abide therein; and he shall have a disgraceful torment.
An-Nisa 11-14
Who should be given from the inheritance?
There is a share for men and a share for women from what is left by parents and those nearest related, whether, the property be small or large - a legal share.
And when the relatives and the orphans and Al¬Masâkin (the poor) are present at the time of division, give them out of the property, and speak to them words of kindness and justice.
An-Nisa 7-8
And when the relatives and the orphans and Al¬Masâkin (the poor) are present at the time of division, give them out of the property, and speak to them words of kindness and justice.
An-Nisa 7-8
Guidelines about returning the property to orphans
And try orphans (as regards their intelligence) until they reach the age of marriage; if then you find sound judgement in them, release their property to them, but consume it not wastefully, and hastily fearing that they should grow up, and whoever (amongst guardians) is rich, he should take no wages, but if he is poor, let him have for himself what is just and reasonable (according to his labour). And when you release their property to them, take witness in their presence; and Allâh is All¬Sufficient in taking account.
An-Nisa 6
An-Nisa 6
Dont make your wives the custodian of the property
And give not unto the foolish your property which Allâh has made a means of support for you, but feed and clothe them therewith, and speak to them words of kindness and justice.
An-Nisa 5
Comment
In this verse women i.e wives are meant by foolish in the opinion of Ibn e Abbas R.A ,Ibn e Masood,Mujahid,Qatadah R.A and many others.Our social observations proof that women are more extravagant than men and they cant guard the propertya s effectively as men themselves ,therefor it is not wise to give them the custody of the property.
An-Nisa 5
Comment
In this verse women i.e wives are meant by foolish in the opinion of Ibn e Abbas R.A ,Ibn e Masood,Mujahid,Qatadah R.A and many others.Our social observations proof that women are more extravagant than men and they cant guard the propertya s effectively as men themselves ,therefor it is not wise to give them the custody of the property.
Don't oppress orphans
And give unto orphans their property and do not exchange (your) bad things for (their) good ones; and devour not their substance (by adding it) to your substance. Surely, this is a great sin.
And if you fear that you shall not be able to deal justly with the orphan¬girls, then marry (other) women of your choice, two or three, or four but if you fear that you shall not be able to deal justly (with them), then only one or (slaves) that your right hands possess. That is nearer to prevent you from doing injustice.
And give to the women (whom you marry) their Mahr (obligatory bridal-money given by the husband to his wife at the time of marriage) with a good heart, but if they, of their own good pleasure, remit any part of it to you, take it, and enjoy it without fear of any harm (as Allâh has made it lawful).
An-Nisa 2-4
Comment
This verse refers to the case where an orphan girl is under the custody of a person and his custodian/guardian wants to marry her with the intention to eat up her property and doesn't pay her the mahr as much as she is being offered by other candidates or it is expected that she'll be given an offer more than that.
And if you fear that you shall not be able to deal justly with the orphan¬girls, then marry (other) women of your choice, two or three, or four but if you fear that you shall not be able to deal justly (with them), then only one or (slaves) that your right hands possess. That is nearer to prevent you from doing injustice.
And give to the women (whom you marry) their Mahr (obligatory bridal-money given by the husband to his wife at the time of marriage) with a good heart, but if they, of their own good pleasure, remit any part of it to you, take it, and enjoy it without fear of any harm (as Allâh has made it lawful).
An-Nisa 2-4
Comment
This verse refers to the case where an orphan girl is under the custody of a person and his custodian/guardian wants to marry her with the intention to eat up her property and doesn't pay her the mahr as much as she is being offered by other candidates or it is expected that she'll be given an offer more than that.
Monday, August 15, 2011
2.5% or 25% ?choice is yours !!!!
Assalam u alayekum !
May peace be upon you o readers!
Today i was reading that famous U.S billionaire has written an article for Seattle Times and demanded from government that it should raise taxes on Rich ones.Currently the middle class of U.S.A is paying 25% tax per Annum and the Elite class is paying 17.4%.
This shows a clear paradox in U.S society becuase they lack the implication of the divine guidance.Not only U.S.A ,but every country where such paradoxes are present they result into rendering the economy less stable.
Then what is the solition to all this headache?
The solution lies in Divine Financial Guideline where Rich or poor each has to pay a tax with the rate of 2.5% instead of different rates,if they possess money or gold or cattle etc which is worth of or is surplus to equavilent of a certain amount,for a year constantly.Divine law also makes clear that this collected tax will not be spent on the luxurious items and on the building of infrastructure rather it will be given to those who are needy,poor etc.It also makes sure that the priority should be given to your kin as The Charity begins at home.This priorty check makes an effective use of this tax and the bonds between kins are hence improved.
If the money remains unspent even after spending on the 8 causes as mentioned by divine law (i.e surplus money is kept as unspent),that money is kept in a financial department which makes sure that in case of emergency or in future if a needy one comes ,his needs may be satisfied with that money.
Therefor come to Islam,come to the divine law since it has the guarantee to success.Islam is the only religion which ensures financial guidelines for its followers and some of its guidelines are even being followed by the West which is always creating confusion about Muslims.Only Islam ensures that its followers are equal in each aspect whether it be the social,cultural or financial aspect.The standard of greatness is piety in Islam ,not the wealth.
May peace be upon you o readers!
Today i was reading that famous U.S billionaire has written an article for Seattle Times and demanded from government that it should raise taxes on Rich ones.Currently the middle class of U.S.A is paying 25% tax per Annum and the Elite class is paying 17.4%.
This shows a clear paradox in U.S society becuase they lack the implication of the divine guidance.Not only U.S.A ,but every country where such paradoxes are present they result into rendering the economy less stable.
Then what is the solition to all this headache?
The solution lies in Divine Financial Guideline where Rich or poor each has to pay a tax with the rate of 2.5% instead of different rates,if they possess money or gold or cattle etc which is worth of or is surplus to equavilent of a certain amount,for a year constantly.Divine law also makes clear that this collected tax will not be spent on the luxurious items and on the building of infrastructure rather it will be given to those who are needy,poor etc.It also makes sure that the priority should be given to your kin as The Charity begins at home.This priorty check makes an effective use of this tax and the bonds between kins are hence improved.
If the money remains unspent even after spending on the 8 causes as mentioned by divine law (i.e surplus money is kept as unspent),that money is kept in a financial department which makes sure that in case of emergency or in future if a needy one comes ,his needs may be satisfied with that money.
Therefor come to Islam,come to the divine law since it has the guarantee to success.Islam is the only religion which ensures financial guidelines for its followers and some of its guidelines are even being followed by the West which is always creating confusion about Muslims.Only Islam ensures that its followers are equal in each aspect whether it be the social,cultural or financial aspect.The standard of greatness is piety in Islam ,not the wealth.
Thursday, August 11, 2011
Dont eat up properties of each other !
And eat up not one another's property unjustly (in any illegal way e.g. stealing, robbing, deceiving, etc.), nor give bribery to the rulers (judges before presenting your cases) that you may knowingly eat up a part of the property of others sinfully
Al Baqarah 188
Al Baqarah 188
Wednesday, August 10, 2011
Solution to world's financial crisis
Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums).
Verse 279 Chapter AL Baqarah
Translation by Dr. Mohsin
Allâh will destroy Ribâ (usury) and will give increase for Sadaqât (deeds of charity, alms, etc.) And Allâh likes not the disbelievers, sinners.
Al Baqarah
O you who believe! Eat not Ribâ (usury) doubled and multiplied, but fear Allâh that you may be successful.And fear the Fire, which is prepared for the disbelievers.
And obey Allâh and the Messenger (Muhammad SAW) that you may obtain mercy
Aal eImran 130-132
Comment
Currently the financial system of the whole world is a fraudulent system.It is mere fraud.Paper money ahs no value.Allah says in Quran:
"And don't eat the properties of each other by wong means (i.e don't usurp each others properties)"
Since the present financial system of the world ensures a fraud to the masses and the exploitation of the poor by means of usuary etc. it is cursed forever and it will remain cursed forever .No one can come against the Divine Power.The world can't get out of this situation unless and until it rejects this financial system of oppression
Heavenly Warning to avoid Financial Crisis
Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums).
Verse 279 Chapter AL Baqarah
Translation by Dr. Mohsin
Verse 279 Chapter AL Baqarah
Translation by Dr. Mohsin
Financial guidance in Surah e Baqarah
Those who eat Ribâ (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitân (Satan) leading him to insanity. That is because they say: "Trading is only like Ribâ (usury)," whereas Allâh has permitted trading and forbidden Ribâ (usury). So whosoever receives an admonition from his Lord and stops eating Ribâ (usury) shall not be punished for the past; his case is for Allâh (to judge); but whoever returns [to Ribâ (usury)], such are the dwellers of the Fire - they will abide therein
Allâh will destroy Ribâ (usury) and will give increase for Sadaqât (deeds of charity, alms, etc.) And Allâh likes not the disbelievers, sinners.
O you who believe! Be afraid of Allâh and give up what remains (due to you) from Ribâ (usury) (from now onward), if you are (really) believers.And if you do not do it, then take a notice of war from Allâh and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums). And if the debtor is in a hard time (has no money), then grant him time till it is easy for him to repay, but if you remit it by way of charity, that is better for you if you did but know.And be afraid of the Day when you shall be brought back to Allâh. Then every person shall be paid what he earned, and they shall not be dealt with unjustly.
Vese no. 276-281 Chapter Al Baqarah
O you who believe! Do not render in vain your Sadaqah (charity) by reminders of your generosity or by injury, like him who spends his wealth to be seen of men, and he does not believe in Allâh, nor in the Last Day. His likeness is the likeness of a smooth rock on which is a little dust; on it falls heavy rain which leaves it bare. They are not able to do anything with what they have earned. And Allâh does not guide the disbelieving people.
Verse no. 262-264 Chapter Al Baqarah
O you who believe! Spend of the good things which you have (legally) earned, and of that which We have produced from the earth for you, and do not aim at that which is bad to spend from it, (though) you would not accept it save if you close your eyes and tolerate therein. And know that Allâh is Rich (Free of all wants), and Worthy of all praise.Shaitân (Satan) threatens you with poverty and orders you to commit Fahshâ (evil deeds, illegal sexual intercourse, sins); whereas Allâh promises you Forgiveness from Himself and Bounty, and Allâh is All-Sufficient for His creatures' needs, All-Knower.
He gives wisdom to whom He wills, and whoever is given wisdom is certainly given a lot of good. Only the people of understanding observe the advice. Whatever expenditure you spend and whatever vow you make, Allah knows all of it, and for the unjust, there are no helpers/supporters.
Verse no. 267-271 Chapter Al Baqarah
Those who spend their wealth (in Allâh's Cause) by night and day, in secret and in public, they shall have their reward with their Lord. On them shall be no fear, nor shall they grieve
Verse no. 274 Chapter Al Baqarah
And if you are on a journey and cannot find a scribe, then let there be a pledge taken (mortgaging); then if one of you entrust the other, let the one who is entrusted discharge his trust (faithfully), and let him be afraid of Allâh, his Lord. And conceal not the evidence for he, who hides it, surely his heart is sinful. And Allâh is All-Knower of what you do.
To Allâh belongs all that is in the heavens and all that is on the earth, and whether you disclose what is in your ownselves or conceal it, Allâh will call you to account for it. Then He forgives whom He wills and punishes whom He wills. Allah is powerful over everything.
Verse no. 282-284 Chapter Al Baqarah
Verse no. 273 Chapter Al Baqarah
They ask you (O Muhammad SAW) what they should spend. Say: Whatever you spend of good must be for parents and kindred and orphans and Al¬Masâkin (the poor) and the wayfarers, and whatever you do of good deeds, truly, Allâh knows it well.
Verse no. 215 Chapter Al Baqarah
Allâh will destroy Ribâ (usury) and will give increase for Sadaqât (deeds of charity, alms, etc.) And Allâh likes not the disbelievers, sinners.
O you who believe! Be afraid of Allâh and give up what remains (due to you) from Ribâ (usury) (from now onward), if you are (really) believers.And if you do not do it, then take a notice of war from Allâh and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums). And if the debtor is in a hard time (has no money), then grant him time till it is easy for him to repay, but if you remit it by way of charity, that is better for you if you did but know.And be afraid of the Day when you shall be brought back to Allâh. Then every person shall be paid what he earned, and they shall not be dealt with unjustly.
Vese no. 276-281 Chapter Al Baqarah
Encouragement to spend in the cause of Allah with open heart and without pomp and show
Those who spend their wealth in the Cause of Allâh, and do not follow up their gifts with reminders of their generosity or with injury, their reward is with their Lord. On them shall be no fear, nor shall they grieve.Kind words and forgiving of faults are better than Sadaqah (charity) followed by injury. And Allâh is Rich (Free of all Needs) and He is Most-Forbearing.
O you who believe! Do not render in vain your Sadaqah (charity) by reminders of your generosity or by injury, like him who spends his wealth to be seen of men, and he does not believe in Allâh, nor in the Last Day. His likeness is the likeness of a smooth rock on which is a little dust; on it falls heavy rain which leaves it bare. They are not able to do anything with what they have earned. And Allâh does not guide the disbelieving people.
Verse no. 262-264 Chapter Al Baqarah
O you who believe! Spend of the good things which you have (legally) earned, and of that which We have produced from the earth for you, and do not aim at that which is bad to spend from it, (though) you would not accept it save if you close your eyes and tolerate therein. And know that Allâh is Rich (Free of all wants), and Worthy of all praise.Shaitân (Satan) threatens you with poverty and orders you to commit Fahshâ (evil deeds, illegal sexual intercourse, sins); whereas Allâh promises you Forgiveness from Himself and Bounty, and Allâh is All-Sufficient for His creatures' needs, All-Knower.
He gives wisdom to whom He wills, and whoever is given wisdom is certainly given a lot of good. Only the people of understanding observe the advice. Whatever expenditure you spend and whatever vow you make, Allah knows all of it, and for the unjust, there are no helpers/supporters.
Verse no. 267-271 Chapter Al Baqarah
Those who spend their wealth (in Allâh's Cause) by night and day, in secret and in public, they shall have their reward with their Lord. On them shall be no fear, nor shall they grieve
Verse no. 274 Chapter Al Baqarah
Guidelines for Dealings
And if you are on a journey and cannot find a scribe, then let there be a pledge taken (mortgaging); then if one of you entrust the other, let the one who is entrusted discharge his trust (faithfully), and let him be afraid of Allâh, his Lord. And conceal not the evidence for he, who hides it, surely his heart is sinful. And Allâh is All-Knower of what you do.
To Allâh belongs all that is in the heavens and all that is on the earth, and whether you disclose what is in your ownselves or conceal it, Allâh will call you to account for it. Then He forgives whom He wills and punishes whom He wills. Allah is powerful over everything.
Verse no. 282-284 Chapter Al Baqarah
To whom should the charity be made?
(Charity is) for Fuqarâ (the poor), who in Allâh's Cause are restricted (from travel), and cannot move about in the land (for trade or work). The one who knows them not, thinks that they are rich because of their modesty. You may know them by their mark, they do not beg of people at all. And whatever you spend in good, surely Allâh knows it well.Verse no. 273 Chapter Al Baqarah
They ask you (O Muhammad SAW) what they should spend. Say: Whatever you spend of good must be for parents and kindred and orphans and Al¬Masâkin (the poor) and the wayfarers, and whatever you do of good deeds, truly, Allâh knows it well.
Verse no. 215 Chapter Al Baqarah
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