Islamic Economics
-
The Urgency of Real Sector Investment in Islam
Since it represents concrete economic activities like production, trade and services, the real sector forms the basis of any economy. From an Islamic standpoint, real sector investments are not only welcomed but also seen as being more in line with Shariah values which place a strong emphasis on expediency, sustainability and justice. Unlike the speculative instruments found in the traditional…
Read More » -
The Urgency of Having a Long-Term Vision in Investing
In today’s unpredictable economic environment investing with a long-term vision is not only a strategy but a need. Investors frequently feel pressured to respond to daily fluctuations in the market particularly when news headlines exacerbate anxiety. Short-term responses however usually cause more harm than good over time. Investors can avoid emotional blunders stay focused on their long-term financial objectives and…
Read More » -
The Urgency of Fulfilling Terms and Conditions in Islamic Business Partnership Contracts
One of foundations of Islamic finance is business contracts like mudharabah and musharakah. These contracts depend on openness, trust and rigorous adherence to terms and conditions that have been agreed upon by both parties. According to Islamic jurisprudence upholding these terms is mandatory and has a direct impact on the legitimacy of the contract as well as the equitable allocation…
Read More » -
Fiqh of Zakat Profession and Calculation Procedure
Professional zakat is intended for professionals or workers who have income that has reached the nisab. Nisab itself is the lowest limit that has been determined by sharia which is used as a guideline in determining the obligation to pay zakat on income. For workers who get a monthly salary every month and especially if we are a Muslim, it…
Read More » -
How to Calculate and How to Pay Zakat on Gold as Investment?
One of the zakat that needs to be paid is on gold and silver. So, if these two precious metals havereached the nishab and haul (one year of ownership) then the owner is obliged to pay zakat. In thecontext of gold zakah, what is required is investment gold, not jewellery gold. Why is gold and silver subject to zakah? Islam…
Read More » -
How to Calculate Zakat for Employees?
One of Islams tenets zakat is required of all Muslims who fit the requirements. In addition to purifying material wealth zakat also purifies the heart and draws one nearer to Allah ﷻ. Because monthly income must be carefully calculated to determine whether it has reached the nisab (minimum threshold of wealth subject to zakat) and haul (ownership period of one…
Read More » -
How the UK Became a Leader in the Islamic Financial World?
As the Western center for financial services that adhere to Shari’ah the UK has become a global leader in Islamic finance. This outstanding accomplishment is the consequence of a confluence of flexible regulations, proactive government policies and the active participation of Muslim organizations. In addition to demonstrating its financial innovation the UKs success in Islamic finance also shows its dedication…
Read More » -
Zakat: Is It Better to Distribute It Yourself or Through an Organization?
Every muslim who satisfies the requirements must pay zakat as one of the tenets of Islam. The Quran says: “Take alms(Zakat) from their wealth to purify and cleanse them and pray for them. Indeed, your prayer is a source of comfort for them. And Allah is All-Hearing, All-Knowing.” (Surah At-Tawbah: 103) But to do this deed, muslims must decide whether to…
Read More » -
Investment Tips and Tricks for Employees
Employees can gain from strategic investment practices in their quest for growth and financial stability. Qur’an mentioned urgencies of prudent financial management: And those who, when they spend, are neither extravagant nor miserly, but hold a medium (way) between those (extremes)” (Quran 25:67) And these lessons will show tips and tricks to invest as an employee as a part of…
Read More » -
Procrastination as a Reprehensible Trait in Islam and How to Avoid It
Despite being written off as a small habit procrastination can have negative consequences for ones spiritual and personal development. Procrastination is seen in Islam as a quality that can result in major losses and lost opportunities in this life as well as the next rather than just being a bad habit. This article examines the risks associated with procrastination the…
Read More »