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Qard Al-Hassan
All loans in Islam are interest free. Qardh al-hasan ( ar, قرض الحسن, transl. ''benevolent lending'') is the one which is without a collateral. However some Ulama deem it a form of interest-free loan (fungible, marketable wealth) that is extended by a lender to a borrower on the basis of benevolence (ihsan). Al-qardh, from a shari’a point of view, is a non commutative contract, as it involves a facility granted only for the sake of tabarru’ (donation). Therefore, al-qardh al-hasan is a gratuitous loan extended to people in need, for a specified period of time. At the end of that period, the face value of the loan (asl al-qardh) is to be paid off. In other words, shari’a prohibits the stipulation of an excess for the lender, as it amounts to riba, whether the excess is expressed in terms of quality or quantity, or whether it is a tangible item or a benefit. However, it is permitted that the repayment of qardh (loan extinguishing) is made with an excess (tangible item, be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Qur'an
The Quran (, ; Standard Arabic: , Quranic Arabic: , , 'the recitation'), also romanized Qur'an or Koran, is the central religious text of Islam, believed by Muslims to be a revelation from God. It is organized in 114 chapters (pl.: , sing.: ), which consist of verses (pl.: , sing.: , cons.: ). In addition to its religious significance, it is widely regarded as the finest work in Arabic literature, and has significantly influenced the Arabic language. Muslims believe that the Quran was orally revealed by God to the final prophet, Muhammad, through the archangel Gabriel incrementally over a period of some 23 years, beginning in the month of Ramadan, when Muhammad was 40; and concluding in 632, the year of his death. Muslims regard the Quran as Muhammad's most important miracle; a proof of his prophethood; and the culmination of a series of divine messages starting with those revealed to Adam, including the Torah, the Psalms and the Gospel. The word ''Quran'' occurs so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Verse Of Loan
The Verse of Loan ( ar, آية ٱلدين, ) is verse 282 in chapter Al-Baqara ( Q2:282). This verse is the longest verse at the longest chapter in Quran. The concept of borrowing was explained in the verse. Text and meaning [] O you who have believed, when you contract a debt for a specified term, write it down. [] And let a scribe write [it] between you in justice. [] Let no scribe refuse to write as has taught him. [] So let him write and let the one who has the obligation [i.e., the debtor] dictate. And let him fear , his Lord, and not leave anything out of it. [] But if the one who has the obligation is of limited understanding or weak or unable to dictate himself, then let his guardian dictate in justice. [] And bring to witness two witnesses from among your men. [] And if there are not two men [available], then a man and two women from those whom you accept as witnesses – so that if one of them .e., the womenerrs, then the other can remind her. [ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Worship
Islam (; ar, ۘالِإسلَام, , ) is an Abrahamic religions, Abrahamic Monotheism#Islam, monotheistic religion centred primarily around the Quran, a religious text considered by Muslims to be the direct word of God in Islam, God (or ''Allah'') as it was revealed to Muhammad, the Muhammad in Islam, main and final Islamic prophet.Peters, F. E. 2009. "Allāh." In , edited by J. L. Esposito. Oxford: Oxford University Press. . (See alsoquick reference) "[T]he Muslims' understanding of Allāh is based...on the Qurʿān's public witness. Allāh is Unique, the Creator, Sovereign, and Judge of mankind. It is Allāh who directs the universe through his direct action on nature and who has guided human history through his prophets, Abraham, with whom he made his covenant, Moses/Moosa, Jesus/Eesa, and Muḥammad, through all of whom he founded his chosen communities, the 'Peoples of the Book.'" It is the Major religious groups, world's second-largest religion behind Christianity, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Banking
Islamic banking, Islamic finance ( ar, مصرفية إسلامية), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic banking/finance include ''Mudarabah'' (profit-sharing and loss-bearing), ''Wadiah'' (safekeeping), ''Musharaka'' (joint venture), ''Murabahah'' (cost-plus), and ''Ijara'' ( leasing). Sharia prohibits ''riba'', or usury, defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to ''riba''). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also ''haram'' ("sinful and prohibited"). These prohibitions have been applied historically in varying degrees in Muslim countries/communities to prevent un-Islamic practices. In the late 20th century, as part of the revi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loans
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judaism
Judaism ( he, ''Yahăḏūṯ'') is an Abrahamic, monotheistic, and ethnic religion comprising the collective religious, cultural, and legal tradition and civilization of the Jewish people. It has its roots as an organized religion in the Middle East during the Bronze Age. Modern Judaism evolved from Yahwism, the religion of ancient Israel and Judah, by the late 6th century BCE, and is thus considered to be one of the oldest monotheistic religions. Judaism is considered by religious Jews to be the expression of the covenant that God established with the Israelites, their ancestors. It encompasses a wide body of texts, practices, theological positions, and forms of organization. The Torah, as it is commonly understood by Jews, is part of the larger text known as the ''Tanakh''. The ''Tanakh'' is also known to secular scholars of religion as the Hebrew Bible, and to Christians as the " Old Testament". The Torah's supplemental oral tradition is represented by later texts s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tzedakah
''Tzedakah'' or ''Ṣedaqah'' ( he, צדקה ) is a Hebrew word meaning "righteousness", but commonly used to signify ''charity''. This concept of "charity" differs from the modern Western understanding of "charity". The latter is typically understood as a spontaneous act of goodwill and a marker of generosity; ''tzedakah'' is an ethical obligation. ''Tzedakah'' (Tzedaka) refers to the religious obligation to do what is right and just, which Judaism emphasizes as an important part of living a spiritual life. Unlike voluntary philanthropy, ''tzedakah'' is seen as a religious obligation that must be performed regardless of one's financial standing, and so is mandatory even for those of limited financial means. ''Tzedakah'' is considered to be one of the three main acts that can positively influence an unfavorable heavenly decree. The word ''tzedakah'' is based on the Hebrew (, ''Tzedeq''), meaning ''righteousness'', ''fairness,'' or ''justice'', and is related to the Hebrew word ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Khums
In Islam, khums ( ar, خُمْس , literally 'one fifth') refers to the required religious obligation of any Muslims to pay 20% of their acquired wealth from certain sources toward specified causes. It is treated differently in Shia and Sunni Islam. This tax is paid to the imam, caliph or sultan, representing the state of Islam,Abdulaziz Sachedina (1980)Al-Khums: The Fifth in the Imāmī Shīʿī Legal System Journal of Near Eastern Studies, Vol. 39, No. 4 (Oct., 1980), pp. 276-277, 275-289, note 10 for distribution between the orphans, the needy, the trandedtraveler, and the descendants of Islamic prophet Muhammad. In some jurisdictions, khums is paid on minerals extracted in regions under the control of the state. Khums separate from other Islamic taxes such as zakat and jizya. In Sunni Islam, the scope of ''khums'' tax has been the spoils of war ( ar, الْغَنيمَة, al-ghanim). In Shia Islam, the scope of ''khums'' tax includes spoils of war, objects obtained f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alms
Alms (, ) are money, food, or other material goods donated to people living in poverty. Providing alms is often considered an act of virtue or Charity (practice), charity. The act of providing alms is called almsgiving, and it is a widespread practice in a number of different religions and cultures. Etymology The word ''alms'' comes from the Old English ', ', which comes from Late Latin ', from Greek language, Greek ' ("pity, alms"), from , ' ("merciful"), from , ', meaning "pity or mercy". Buddhism ''Dāna'' in Buddhism In Buddhism, both "almsgiving" and "giving" are called "Dana (Buddhism), dāna" (Pāli). Such giving is one of the three elements of the path of practice as formulated by the Gautama Buddha, Buddha for Householder (Buddhism), laypeople. This path of practice for laypeople is Dana (Buddhism), dāna, Śīla, sīla, and Bhavana, bhāvanā. Generosity towards other sentient beings is also emphasized in Mahayana as one of the perfections (paramita). As sho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resurrection
Resurrection or anastasis is the concept of coming back to life after death. In a number of religions, a dying-and-rising god is a deity which dies and is resurrected. Reincarnation is a similar process hypothesized by other religions, which involves the same person or deity coming back to live in a different body, rather than the same one. The resurrection of the dead is a standard eschatological belief in the Abrahamic religions. As a religious concept, it is used in two distinct respects: a belief in the resurrection of individual souls that is current and ongoing ( Christian idealism, realized eschatology), or else a belief in a singular resurrection of the dead at the end of the world. Some believe the soul is the actual vehicle by which people are resurrected. The death and resurrection of Jesus is a central focus of Christianity. Christian theological debate ensues with regard to what kind of resurrection is factual – either a ''spiritual'' resurrection with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allah
Allah (; ar, الله, translit=Allāh, ) is the common Arabic word for God. In the English language, the word generally refers to God in Islam. The word is thought to be derived by contraction from '' al- ilāh'', which means "the god", and is linguistically related to the Aramaic words Elah and Syriac (ʼAlāhā) and the Hebrew word '' El'' ('' Elohim'') for God. The feminine form of Allah is thought to be the word Allat. The word ''Allah'' has been used by Arabic people of different religions since pre-Islamic times. The pre-Islamic Arabs worshipped a supreme deity whom they called Allah, alongside other lesser deities. Muhammad used the word ''Allah'' to indicate the Islamic conception of God. ''Allah'' has been used as a term for God by Muslims (both Arab and non-Arab) and even Arab Christians after the term " al- ilāh" and "Allah" were used interchangeably in Classical Arabic by the majority of Arabs who had become Muslims. It is also often, albeit not exclusiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Waqf
A waqf ( ar, وَقْف; ), also known as hubous () or '' mortmain'' property is an inalienable charitable endowment under Islamic law. It typically involves donating a building, plot of land or other assets for Muslim religious or charitable purposes with no intention of reclaiming the assets. A charitable trust may hold the donated assets. The person making such dedication is known as a ''waqif'' (a donor). In Ottoman Turkish law, and later under the British Mandate of Palestine, a ''waqf'' was defined as usufruct state land (or property) from which the state revenues are assured to pious foundations. Although the ''waqf'' system depended on several hadiths and presented elements similar to practices from pre-Islamic cultures, it seems that the specific full-fledged Islamic legal form of endowment called ''waqf'' dates from the 9th century AD (see below). Terminology In Sunni jurisprudence, ''waqf'', also spelled ''wakf'' ( ar, وَقْف; plural , ''awqāf''; tr, vak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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