Is it ok to say I will sell you this phone for $120 if you pay in cash and for $200 if you pay me
In this video I analyze the process of selling an item on credit for a price that is greater than the cash price of the item. Specifically, I examine whether or not there is riba or interest in such a practice. I then respond to counter-arguments that are frequently presented in response to the conclusion I make.
Logic suggests that Muslims should create products that accommodate Islamic instructions. Intellectual laziness however, causes some to change their understanding of Islamic instructions to accommodate the
In this episode of Practical Islamic Finance, I define what Riba in Islam is using the literal Arabic meaning of the word, the Quran and Tradition of the prophet Muhammad peace be upon him. After watching this video you should have a clear understanding of Islam’s view on Debt and Interest and be able to tell whether the product you are considering involves riba or not.
The misinformed prohibition of insurance in Islam needs to end. I attempt to do just that by pointing out where the objectors’ opinions have erred.
Did you catch it? The aforementioned verses from the generous Quran describe a consumer financing product that could help millions of people across the globe escape interest-bearing debt and enter more equitable financing arrangements.