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" Seek knowledge from the cradle to the grave" - Nabi Muhammad (SAW). A rich store of articles on the deen of Islam.

Money Talks - Personal Finance Part 2

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Archive Articles of the Boorhaanol Islam Magazine.  In the previous article, we started the discussion on interest by qualifying what it is. In this concluding article we explain why Islam takes such a harsh view of interest and what is to be done with it.

Why does Islam take such a harsh view of interest?

The principal reason why the Quran has delivered such a harsh verdict against interest is that Islam wishes to establish an economic system where all forms of exploitation are eliminated. Interest perpetuates the injustice by assuring a financier of a positive return without him doing any work or sharing in the risk, while the entrepreneur, in spite of his management and hard work, is not assured of such a positive return.

 

What should be done with interest? Who should it be given to?

Money Talk - Personal Finance

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What is the Islamic view on interest?

Among the most important teachings of Islam for establishing justice and eliminating exploitation in business transactions is the prohibition of all sources of 'unjustified' enrichment. The Quran and Sunnah have given principles whereby a Muslim society can know what constitutes a 'wrongful or unjustified source' of earning or acquisition of property from others. One of the important sources of unjustified earning is receiving any monetary advantage in a business transaction without giving a just counter-value. In the Islamic value system, riba represents a prominent source of unjustified advantage.

 

What does the Quran say about interest?

The prohibition of riba appears in the Quran in four different revelations. The first of these emphasizes that while interest deprived wealth of God's blessings, charity raised it manifold. The second ayah severely condemned interest, in line with its prohibition in the previous scriptures. It placed those who took riba in

Music and Islam - Ethnomusicological View - by the late Dr Achmat Davids

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In discussing Music and Islam from an ethnomusicological perspective, it is useful first to look at Islam's attitude towards ethnicity. Once this has been established, we can proceed to examine Islamic approaches to music as such. It is important to note that Islam condemns ethnic differences when ethnic differences are used as a basis for discrimination. The Holy Quran teaches that mankind is but a single nation. Thus Allah says in the  holy Quran (49:3): "0 mankind ! We created you from a single (pair) of a male and a female, and made you into nations and tribes, that ye may know each other (not that you may dispraise each other)" From this verse it becomes obvious that there is no distinction between people in the reckoning of Allah, except in their degree of piety. Islam, however, does not bury, its head in the face of human reality. Hence the Holy Quran recognises tribal and ethnic differences as a means

Life of the prophet - Part 5 - Eshaam Palmer

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In this part, important events in the life, of the Prophet [pbuh] are examined, namely, the covenants of Aqabah and the emigration of Muhammad[pbuh] from Makka to Madinah. It was during this period that the attacks of the Quraish and others were at their worst, and not even the protection of Banu Hashim and Banu al Mutallib afforded adequate defence for thesafety of the Prophet [pbuh] and his followers.


After al Isra

Many Muslims did not understand the meaning and significance of al Isra, in fact, because of this event many Muslims left the fold of Islam to return to their idol worshipping and other religions. Amongst those were people who refused to believe that such an event took place at all. The Quraish seized on this state of affairs and intensified their attacks to such a degree that Muhammad [pbuh] and his followers were hardpressed to defend themselves. It was during this period that Muhammad [pbuh] missed Gadija the most - her kind words and

HIV / AIDS

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A regular feature focusing on topical issues confronting Muslims, in particular the Muslims of Southern Africa but probably pertinent to Muslim minorities globally. The interview technique is utilized to explore in non dogmatic and non – judgmental fashion, the problem, its roots, its ramifications and the spectrum of avenues that offer a solution.


It is estimated that there will be a staggering 5 million orphaned HIV positive children in this country by the year 2010. Should this devastating projection come to pass, it will impact on the lives of every South African,

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