"GENERAL ARTICLES"
"BISMILLA HIRRAHMAAN NIRRAHEEM"
WELCOME! - AS'SALAMU ALAIKUM!! ******** ***** *****
[All] praise is [due] to Allah, Lord of the worlds; - Guide us to the straight path
*- -*
* * In this Blog; More Than Ten Thousand(10,000) {Masha Allah} - Most Usefull Articles!, In Various Topics!! :- Read And All Articles & Get Benifite! * Visit :-
*- WHAT ISLAM SAYS -* - Islam is a religion of Mercy, Peace and Blessing. Its teachings emphasize kind hear tedness, help, sympathy, forgiveness, sacrifice, love and care.Qur’an, the Shari’ah and the life of our beloved Prophet (SAW) mirrors this attribute, and it should be reflected in the conduct of a Momin.Islam appreciates those who are kind to their fellow being,and dislikes them who are hard hearted, curt, and hypocrite.Recall that historical moment, when Prophet (SAW) entered Makkah as a conqueror. There was before him a multitude of surrendered enemies, former oppressors and persecutors, who had evicted the Muslims from their homes, deprived them of their belongings, humiliated and intimidated Prophet (SAW) hatched schemes for his murder and tortured and killed his companions. But Prophet (SAW) displayed his usual magnanimity, generosity, and kind heartedness by forgiving all of them and declaring general amnesty...Subhanallah. May Allah help us tailor our life according to the teachings of Islam. (Aameen)./-
"INDIA "- Time in New Delhi -
''HASBUNALLAHU WA NI'MAL WAKEEL'' - ''Allah is Sufficient for us'' + '' All praise is due to Allah. May peace and blessings beupon the Messenger, his household and companions '' (Aameen)
NAJIMUDEEN M
Dua' from Al'Qur'an - for SUCCESS in 'both the worlds': '' Our Lord ! grant us good in this world and good in the hereafter and save us from the torment of the Fire '' [Ameen] - {in Arab} :-> Rabbanaa aatinaa fid-dunyaa hasanatan wafil aakhirati hasanatan waqinaa 'athaaban-naar/- (Surah Al-Baqarah ,verse 201)*--*~
Category - *- About me -* A note for me *-* Aa My Public Album*-* Acts of Worship*-* Ahlesunnat Wal Jamat*-* Asmaul husna*-* Belief in the Last Day*-* Between man and wife*-* Bible and Quran*-* Bioghraphy*-* Commentary on Hadeeth*-* Conditions of Marriage*-* Da'eef (weak) hadeeths*-* Darwinism*-* Dating in Islam*-* Description of the Prayer*-* Diary of mine*-* Discover Islam*-* Dought & clear*-* Duas*-* Eid Prayer*-* Engagment*-* Family*-* Family & Society*-* family Articles*-* Family Issues*-* Fasting*-* Fathwa*-* Fiqh*-* For children*-* Gender differences*-* General*-* General Dought & clear*-* General hadeeths*-* General History*-* Hadees*-* Hajj*-* Hajj & Umrah*-* Hazrat Mahdi (pbuh)*-* Health*-* Health and Fitness*-* Highlights*-* Hijaab*-* Holiday Prayer*-* I'tikaaf*-* Imp of Islamic Months*-* Innovations in Religion and Worship*-* Islamic Article*-* Islamic History*-* Islamic history and biography*-* Islamic Months*-* Islamic story*-* Issues of fasting*-* Jannah: Heaven*-* jokes*-* Just know this*-* Kind Treatment of Spouses*-* Links*-* Making Up Missed Prayers*-* Manners of Greeting with Salaam*-* Marital Life*-* Marriage in Islam*-* Menstruation and Post-Natal bleeding*-* Miracles of Quran*-* Moral stories*-* Names and Attributes of Allaah*-* Never Forget*-* News*-* Night Prayer*-* Notes*-* Other*-* Personal*-* Personalities*-* Pilgrimage*-* Plural marriage*-* Prayer*-* Prayers on various occasions*-* Principles of Fiqh*-* Qanoon e Shariat*-* Qur'an*-* Qur'an Related*-* Quraanic Exegesis*-* Ramadan Articles*-* Ramadan File*-* Ramadhan ul Mubarak*-* Sacrifices*-* Saheeh (sound) hadeeths*-* Schools of Thought and Sects*-* Seerah of Prophet Muhammad (pbuh)*-* Sex in Islam*-* Sharia and Islam*-* Shirk and its different forms*-* Sms, jokes, tips*-* Social Concerns*-* Soul Purification*-* Story*-* Sufi - sufi path*-* Supplication*-* Taraaweeh prayers*-* The book of Prayer*-* Tips & Tricks*-* Tourist Place*-* Trust (amaanah) in Islam*-* Welcome to Islam*-* Women in Ramadaan*-* Women site*-* Women Who are Forbidden for Marriage*-* Womens Work*-* Youth*-* Zakath*-*
*- Our Nabi' (s.a.w) Most Like this Dua' -*
"Allahumma Salli'Alaa Muhammadin Wa 'Alaa'Aali Muhammadin, kamaa Sallayta 'Alaa' Ibraheema wa 'Alaa 'Aali 'Ibraheema, 'Innaka Hameedun Majeed. Allahumma Baarik'Alaa Muhammadin Wa 'Alaa'Aali Muhammadin, kamaa Baarakta 'Alaa' Ibraheema wa 'Alaa 'Aali 'Ibraheema, 'Innaka Hameedun Majeed." ******
"Al Qur'an - first Ayath, came to our Nabi (s.a.w)
"Read! In the name of yourLord Who created. Created man from clinging cells. Read! And your Lord is Most Bountiful. The One Who taught with the Pen. Taught man what he did not know." (Qur'an 96: 1-5) - ~ - ~ - lt;18.may.2012/friday-6.12pm:{IST} ;(Ayatul Kursi Surah Al-Baqarah, Ayah 255/)
*- Al Qur'an's last ayath came to Nabi{s.a.w} -*
Allah states the following: “Thisday have I perfected your religion for you, completed My favour upon you, and have chosen for you Islam as your religion.” [Qur’an 5:3]
Surat alAhzab 40; Says Our Prophet Muhammad (s.a.w) is the final Prophet sent by Allah'
↓TRANSLATE THIS BLOG↓
IndonesiaArabicChinaEnglishSpanishFrenchItalianJapanKoreanHindiRussian
ShareShare

Follow Me

* A Precious DUA' *
Dua' - '' All praise is due to Allah'. May peace and blessings beupon the Messenger, his household and companions '' - - - O Allah, I am Your servant, son of Your servant, son of Your maidservant; my forelock is in Your hand; Your command over me is forever executed and Your decree over me is just; I ask You by every name belonging to You that You have named Yourself with, or revealed in Your book, ortaught to any of Your creation, or have preserved in the knowledge of the unseen with You, that You make the Qur'an thelife of my heart and the light of my breast, and a departure for my sorrow and a release from my anxiety.
- Tamil -- Urdu -- Kannada -- Telugu --*- ShareShare
**
ShareShare - -*-
tandapanahkebawah.gifbabby-gif-240-240-0-24000.giftandapanahkebawah.gif400692269-4317571d76.jpeg wall-paper.gif story.gif
*: ::->
*

Tuesday, September 17, 2013

Islamic banking in the digital age

Islamic banking refers to a system of banking activities that is
consistent with the Sharee'ah )Islamic law( and guided by Islamic
economics. Thus, banking procedures including payment of Ribaa )usury
or interest( is Haraam )Islamically prohibited(. Islamic law also
prohibits trading in financial risk )which is seen as a form of
gambling(, investing in businesses that include alcohol or pork, or
businesses that produce anti-Islamic media, etc. In the late 20th
century, a number of Islamic banks were created, to cater to this
particular banking market.
The first modern experiment with Islamic banking was undertaken in
Egypt under cover without projecting an Islamic image for political
reasons. The pioneering effort, led by Ahmad El-Najjaar, took the form
of a savings bank based on profit-sharing in the Egyptian town of Mit
Ghamr in 1963. This experiment lasted until 1967, by which time there
were nine such banks in the country.
Islamic banking has the same purpose as conventional banking except
that it operates in accordance with the Islamic rules, known as Fiqh
Al-Mu'aamalaat )Islamic rules on transactions(. The basic principle of
Islamic banking is the sharing of profit and loss and the prohibition
of Ribaa. Amongst the common Islamic concepts used in Islamic banking
are profit sharing )Mudhaarabah(, safekeeping )Wadee'ah(, joint
venture )Mushaarakah(, cost plus )Muraabahah(, and leasing )Ijaarah(.
In an Islamic mortgage transaction, instead of loaning the buyer money
to purchase the item, a bank might buy the item itself from the
seller, and re-sell it to the buyer at a profit, while allowing the
buyer to pay the bank in installments. However, the fact that it is
profit cannot be made explicit and therefore there are no additional
penalties for late payment. In order to protect itself against
default, the bank asks for strict collateral. The goods or land is
registered to the name of the buyer from the start of the transaction.
This arrangement is called Muraabahah. Another approach is Al-Ijaarah
wal- Iqtinaa', which is similar to real-estate leasing.
Islamic banks handle vehicles' trade in a similar way )selling the
vehicle at a higher-than-market price to the debtor and then retaining
ownership of the vehicle until the loan is paid(.
There are several other approaches used in business deals. Islamic
banks lend their money to companies by issuing floating rate interest
loans. The floating rate of interest is pegged to the company's
individual rate of return. Thus the bank's profit on the loan is equal
to a certain percentage of the company's profits. Once the principal
amount of the loan is repaid, the profit-sharing arrangement is
concluded. This practice is called Mushaarakah. Further, Mudhaarabah
is venture capital funding of an entrepreneur who provides labor while
financing is provided by the bank so that both profit and risk are
shared.
Such participatory arrangements between capital and labor reflect the
Islamic view that the borrower must not bear all the risk/cost of a
failure, resulting in a balanced distribution of income and not
allowing lender to monopolize the economy.
Islamic banks have grown recently in the Muslim world but are a very
small share of the global banking system. Micro-lending institutions
such as Grameen Bank use conventional lending practices, and are
popular in some Muslim nations, but are clearly not Islamic banking.
]1[
Today, there are about seventy five )75( Islamic equity funds
worldwide based in Muslim countries and targeted at institutional
investors in the Middle East. The growth of the middle class in the
Muslim world is driving the advent of a 'new economic order.'
Some years ago, Dow Jones unveiled the first global stock benchmark
for Islamically conscientious investors. The Islamic market index
follows six hundred and sixty )660( Sharee'ah-compliant companies in
34 countries, including Microsoft, Coca-Cola etc. Brown Brothers
Harriman & Co. and a dozen other banks are introducing funds tracking
the index. Barclays of Britain and Commerz Bank AG of Germany are
nurturing new portfolios for Muslims. In November 1999, Financial
Times )FTSE( International in London introduced its own Islamic
indices.
Islamic scholars are open to creative solutions for the problems
raised by modern finance. Any respectable Islamic fund or financial
institutions has a board of scholars screening its investments and
practices. "Nearly all the scholars now agree, for example that it is
ok for Muslims to buy equities or stocks which are commitments to
responsible ownership", says Virginia-based Islamic scholar and fund
adviser Yusuf Talal Delorenzo. This approval of the scholars is
conditioned to such equities of stocks being Islamically lawful
themselves.
The Dow Jones index excludes hotel chains and airlines which serve
alcohol and pork, but the Islamic funds managed by Saturna capital
corp. do not. A. Rushdi Siddiq, Director of Dow Jones Islamic Index
Group, says: "Sharee'ah Boards are de-facto fund managers".
The strong middle class Muslims in Malaysia helped in producing some
recent innovations in Islamic finance. IslamQ.com will be launched in
Kuala Lumpur to become the first web site to offer online Islamic
stock trading. It is a virtual bazaar providing many services.
Surfers can check prayer times, plan pilgrimage to Makkah or 'Ask the
scholars' about how to handle finance under the Sharee'ah.
IslamiQ.com hopes to broaden what is possible for Muslim investors
within the bounds of what is Halaal, or permissible under Islamic law.
The Western style of banking is shunned by hundreds of millions of
observant Muslims around the world. They were left to invest in real
estate, trade financing, or small business; and to accumulate a pool
of cash that IslamiQ now estimates at US$ 150 billion and growing by
30% a year. "There is a lot of money that has been hidden under the
people's mattresses", says Hasnita Hashim, the Malaysian banker and
IslamiQ CEO and co-founder. IslamiQ.com will have offices in New
York, London and Malaysia.
As investors' choices grow, Islamic finance is no longer the exclusive
domain of Muslims. Ms Hashim, who ran Islamic funds in her native
country )Malaysia( before starting IslamQ.com, says that more than
half of her investors were non-Muslims.

Accusing chaste women of adultery

Allaah Almighty Says in the Noble Quran )what means(:
"The ]Unmarried[ woman or ]unmarried[ man found guilty of sexual
intercourse— lash each one of them with a hundred lashes, and do not
be taken by pity for them in the religion ]i.e. law[ of Allaah, if you
should believe in Allaah and the Last Day. And let a group of the
believers witness their punishment. The fornicator does not marry
except a ]female[ fornicator or polytheist, and none marries her
except a fornicator or a polytheist, and that ]i.e. marriage to such
persons[ has been made unlawful to the believers. And those who accuse
chaste women )of adultery( and then do not produce four witnesses —
lash them with eighty lashes and do not accept from them testimony
ever after. And those are the defiantly disobedient. Except for those
who repent thereafter and reform, for indeed Allaah is Forgiving and
Merciful."]Quran 24: 2-5[
Islamic law )Sharee'ah( prescribes a very heavy penalty for adultery.
However, Islam does not legislate such a penalty without first putting
in place sufficient legislation that protects people against falling
in sin. It also ensures that the punishment is not enforced except in
cases where there is certainty about the offence and its perpetrators.
Islam is a complete code of living that is not based on punishment.
Its basis is to provide all that promotes a clean and morally pure
life. If some individuals then abandon such a clean and easy life in
order to deliberately submerge themselves into filth, they incur such
heavy penalty.
In the case of adultery, Islam requires four witnesses to testify that
they have seen the offence, or else, a clear and confirmed confession
by the perpetrators.
It may be suggested, then, that the punishment is unreal and
unenforceable, which renders it ineffective as a deterrent. Punishment
is not the basis of the Islamic approach; its basis is prevention,
education and cultivating people's finer feelings and consciences so
that they refrain from even contemplating this offence.
Imaam Maaliknarrated that a man confessed to fornication in the time
of the Messenger of Allaah. The Messenger of Allaahcalled for a whip,
and he was brought a broken whip. Hesaid:"Above this,"and he was
brought a new whip whose knots had not been cut yet. Hesaid:"Below
this,"and hewas brought a whip which had been used and made flexible.
The Messenger of Allaahgave the order and he was flogged. Then
hesaid:"O people! Observe the limits of Allaah. Whoever has committed
any of these ugly things )adultery or fornication( should cover them
up with the veil of Allaah. Whoever reveals to us his wrong action, we
shall perform what is in the Book of Allaah against him )i.e. the
prescribed penalty(."]Maalik[
Prescribing a very harsh punishment for adultery is not sufficient, on
its own, to protect the Muslim community and ensure the purity of its
atmosphere. Therefore, a supplementary order is given to isolate the
adulterers from the rest of the Muslim community. It goes further to
remove the air of the offence from the Muslim community, prescribing a
heavy punishment for those who accuse chaste women of adultery without
providing firm evidence in support of their accusation. Allaah
Almighty Says in the Quran )what means(:
"And those who accuse chaste women of adultery and then do not produce
four witnesses — lash them with eighty lashes and do not accept from
them testimony ever after. And those are the defiantly disobedient.
Except for those who repent thereafter and reform, for indeed Allaah
is Forgiving and Merciful"."]Quran 24: 2-5[
Allowing people to accuse chaste women, whether married or not,
without a clear proof means that people could always make up such
accusation, fearing no repercussion. This means that the Muslim
community finds itself with a stained reputation. Every individual is
threatened with false accusation. Every man suspects his wife, and
every wife suspects her husband, and people doubt their legitimacy. In
such an intolerable state of doubt and suspicion, every family is
undermined. Moreover, when such accusations are frequently made, those
who steer themselves away from adultery will begin to think that the
crime is common in society. Thus, people begin to think about adultery
in a different spirit, with its ghastly nature sounding less ghastly
as a result of its frequent mention. Those who would not have
contemplated it at all may begin to think of doing so, feeling that
many others are doing it.
Thus, in order to protect people's honor and their suffering from
suspicion as a result of uncorroborated accusations, the Quran
prescribes for false accusation a punishment that comes close to that
of adultery. The punishment is flogging with 80 stripes, rejecting
their testimony in any case or situation, and giving them the label of
transgressors. The first part of the punishment is physical, while the
second is moral. It is sufficient that the accuser is deprived of the
right to testify, and considered deceitful. The third part of the
punishment is a religious one. The one guilty of false accusation is
following a line that deviates from that of faith. The only way to
protect himself from such punishments is that the accuser should
provide four witnesses who have seen the offence being committed, or
three alongside him if he himself has seen it.
It is agreed upon by Muslim scholars that for adultery )or
fornication( case to be authentically proven, four witnesses must
simultaneously see, by their own eyes, the man's sexual organ inserted
in the woman's sexual organ. Only when these four witnesses give such
testimony is the accusation proved and the punishment of adultery )or
fornication( is enforced on the perpetrators.
Such restrictions are set forth by Sharee'ah in order to limit to the
least minimum the possibility of falsely accusing chaste women of
adultery )or fornication(, which leads to social and psychological
troubles for the accused women. Even when such a sin –adultery )or
fornication( - is committed, such restrictions laid by Sharee'ah will
guarantee the suppression of the crime and prevents its spread among
the people, which contaminates the morally pure Muslim community.

Dought & clear, - When should the one who is praying behind the imam bow? When the imam says takbeer, or straight after the takbeer, or when?.

When we are praying behind the imam, when should we start to bow?
Should we bow when we hear the imam say Allaahu akbar or during that
or after he has finished saying it?.
Praise be to Allaah.
What is prescribed for the one who is praying behind the imam is to
follow his imam, not to do anything before him or at the same time as
him, or to delay doing it. Rather he should do things straight after
his imam does them.
This is indicated by the report narrated by al-Bukhaari (378) and
Muslim (417), from the hadeeth of Anas ibn Maalik and Abu Hurayrah
(may Allaah be pleased with them), according to which the Messenger of
Allaah(peace and blessings of Allaah be upon him) said: "The imam is
only appointed to be followed, so when he says takbeer, then say
takbeer; when he bows, then bow (and do not bow until he bows); when
he saysSami'a Allaahu liman hamidah, then sayAllaahumma rabbana
laka'l-hamd. If he prays standing, then pray standing." The phrase in
brackets was added in the version narrated by Abu Dawood (603).
The words of the Prophet(peace and blessings of Allaah be upon him):
"when he bows, then bow and do not bow until he bows", and the same
with regard to prostration, indicate that the person who is praying
behind the imam should not start to move to the next part of the
prayer until after the imam has done it. So he should not bow until
the imam bows, and he should not prostrate until the imam prostrates.
This is stated clearly in the hadeeth of al-Bara' ibn 'Aazib (may
Allaah be pleased with him) who said: When the Messenger of Allaah (S)
said "Sami'a Allaahu liman hamidah," no one of us would bend his back
until the Messenger of Allaah (S) had gone down in prostration, then
we would go down in prostration after him. Narrated by al-Bukhaari
(811)and Muslim (474).
Al-Nawawi said inSharh Muslim: This hadeeth shows that this is one of
the etiquettes of prayer and it is Sunnah for the one who is praying
behind the imam not to start going down (for prostration) until the
imam has placed his forehead on the ground. End quote.
Based on this, what is prescribed for the one who is praying behind
the imam is to follow his imam straight after he has moved to the next
part of the prayer. So what counts is the action of the imam, not his
takbeer. This applies to those who can see the imam. As for the
members of the congregation who cannot see him, then they should
follow his words, and they should start to move to the next part of
the prayer after the imam finishes saying the takbeer.And Allaah knows
best.

Dought & clear, - Can he pray in the clothes he slept in?.

Do the clothes you wear to sleep become impure (so you are not allowed
to pray Salat in them.
Praise be to Allaah.
Firstly:
The basic principle with regard to clothes is that they are taahir
(pure), unless any najaasah (impurity) has gotten onto them, in which
case they must be purified.
Merely sleeping in clothes does not make them najis (impure); rather
they remain pure until it becomes certain that any impurity has gotten
onto them.
Shaykh Ibn 'Uthaymeen said: The basic principle with regard to a
person wearing clothes is that he (and they) are pure so long as he is
not certain that any impurity has gotten onto his body or clothes.
This basic principle is supported by the words of the Prophet
(blessings and peace of Allah be upon him) when a man complained to
him that he felt something during his prayer – referring to breaking
wind. He said: "Do not stop (praying) unless you hear a sound or
notice a smell." If the individual is not certain about that, then the
basic principle is that he remains pure. He may think it most likely
that his clothes have become contaminated with impurity, but so long
as he is not certain about it, the basic principle is that he remains
pure. End quote.
Majmoo' Fataawa Ibn 'Uthaymeen, 11/107
For more information please see the answer to question no. 12720
Secondly:
It is permissible to pray in clothes in which one has slept, so long
as they are pure and cover the 'awrah, although it is better and more
perfect to wear beautiful clothes that look good for prayer. That is
in obedience to the command of Allah, may He be exalted, in the verse
(interpretation of the meaning):"O Children of Adam! Take your
adornment (by wearing your clean clothes), while praying" [al-A'raaf
7:31].
Shaykh Ibn 'Uthaymeen (may Allah have mercy on him) was asked about
the ruling on praying in nightclothes and attending gatherings wearing
them. He said: There is nothing wrong with praying in nightclothes if
they are pure, whether one comes to the mosque wearing them or not,
unless those clothes will attract attention and criticism, and people
will talk about him in their gatherings because of that. People should
avoid anything that may be a cause of people backbiting about them.
End quote.
Majmoo' Fataawa Ibn 'Uthaymeen, 12/362
And Allah knows best.