This book today in my hand is by Mufti Muhammad Taqi Usmani entitled “An Introduction to Islamic Finance” was published in The book is actually about. For those who have expressed interested in this book, here is an online pdf version that has redone the typesetting and font of the book to make. Fahad said: Main ThemeAn Introduction to Islamic Finance discusses economics in the lig flag · See 1 question about An Introduction to Islamic Finance . Mufti Muhammad Taqi Usmani is one of the leading Islamic scholars living today.
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An Introduction to Islamic Finance
Leave a Reply Cancel reply Enter your comment here User Review – Flag as inappropriate Interesting and a must read This discussion is aimed at introducing musharakah as a modern mode of financing without violating its basic principles in any way. Khairunnisamusari rated it it was amazing May 31, The author provided succinct yet comprehensive text about different modes of finance with their respective conditions according to Islamic Shariah. Termination of Lease 8.
This may not serve the basic purpose of establishing a true Islamic order, yet it may help one refrain from a glaring sin and save him from the evil fate of disobedience, which, in itself, is a cherished goal of a Muslim, though at individual level. Musharakah has been introduced with reference to the books of Islamic jurisprudence, and basic problems which may be faced in implementing it in a modern situation.
Ghulam Sarwar rated it it was amazing Jan 27, Rent and save from the world’s largest eBookstore. However, I might have it saved on my hard drive. Secondly, these institutions are passing through their age of infancy. At the outset, the ideal Islamic principles of finance have been elaborated and later on we have discussed the best possible concessions that may be availed of in the transitory period where the Islamic institutions are working under pressure of the existing legal and fiscal system.
If financing is meant for a commercial purpose, it can be sn on the concept of profit and loss sharing, for which musharakah and mudarabah have been designed since the very inception of the Islamic commercial law. Interesting and a must read His principal will be secured and guaranteed, but no return over and above the principal amount is legitimate. A must have for those interested in the basic of Shariah principles.
This book encouraged me to read more about Shariah in general. By continuing to use this website, you agree to their use.
Thanks for fantastic info I used to be searching for this information for my mission. The former gets interest while the latter is entitled to profit.
An Introduction to Islamic Finance by Mufti Muhammad Taqi Usmani – at-Tahawi
Introduction to Islamic Finance Finance Search. Investors and others doing business or intending to do so in Islamic countries have in this book a practical guide to a crucial factor in the success of their endeavours.
May Allah reward the author for his efforts. In the modern capitalist economy, interest is the sole instrument indiscriminately used in financing of every type. Since financing in an Islamic system is backed by assets, it introoduction always matched with corresponding goods and services.
These commands are neither so exhaustive that straiten the human activities within a narrow circle, leaving no role for human intellect to play, nor are they so little or ambiguous that they leave introudction sphere of life at the mercy of human perception and desire. This attitude has allowed a number of practices which cause imbalances in the society. It is known, on the other hand, that interest-based financing does muft necessarily create real assets, therefore, the supply of money through the loans advanced by the financial institutions does not normally match with the real usmni and services produced in the society, because the loans islqmic artificial money through which the amount of money supply is increased, and sometimes multiplied without creating real assets in the same quantity.
Different Relations of the Parties 3. For example, the parties should be capable of entering into a contract; the contract must take place with free consent of the parties without any duress, fraud or misrepresentation, etc.
An Introduction to Islamic Finance by Mufti Muhammad Taqi Usmani
In my opinion it is a good choice to start with this book. Profit is generated when something having intrinsic utility is sold for money or when different currencies are exchanged, one for another.
He authored many books in Urdu, Arabic and English language. They, on the contrary, cover a substantial area of almost every aspect of our life. Mar 19, Siti Ngalim rated it liked it Shelves: Muhammad Murad rated it it was amazing Jan 14, However, this presumption is due to the lack of proper knowledge concerning the principles of musharakah.
If the debtor suffers a loss, it is unjust on the part of the creditor to claim a fixed rate of return; and if the debtor earns a very high rate of profit, it is injustice to the creditor to give him only a small proportion of the profit leaving the rest for the debtor. This book is not yet featured on Listopia. He is an expert in the fields of Islamic Jurisprudence, economics, Tassawuf finxnce Hadith.
There are numerous domains of human life raqi ‘reason’ is often confused with ‘desires’ and where unhealthy instincts, under the disguise of rational arguments, misguide humanity to wrong and destructive decisions.