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Islamic Finance Prohibitions and Principles

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Zeeshan Zafar
Zeeshan Zafar

The document discusses Islamic principles related to business transactions. It states that transactions should not involve riba (interest), gharar (ambiguity or uncertainty), fraud, coercion, or prohibited goods. It then defines riba and gharar, explaining their prohibition in the Quran, hadith, and Islamic law. Riba refers to interest on loans and can take two forms - riba al diyun relating to debt and riba al-fadl occurring in trade. Gharar introduces ambiguity into contracts. The document contrasts debt-based finance involving riba with participatory finance based on profit-sharing that is more just, equitable and growth-oriented.

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Riba , Gharar and Islamic finance AUSAF AHMAD Islamic Cultural Centre of India New Delhi May 04 2008
ISLAMIC NORMS OF BUSINESS TRANSACTIONS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Prohibition of Riba in Qur’an ,[object Object],[object Object]
Prohibition of Riba in Qur’an [contd.] ,[object Object],[object Object]
Prohibition of Riba in Qur’an [contd.] ,[object Object],[object Object]
Prohibition of Riba in Qur’an [contd.] ,[object Object],[object Object]
Prohibition of Riba in Qur’an [contd.] ,[object Object]
Prohibition of Riba in Qur’an [contd.] ,[object Object]
Prohibition of Riba in Qur’an [contd.] ,[object Object],[object Object]
Riba in Hadith ,[object Object],[object Object]
Riba in Hadith [contd.] ,[object Object],[object Object]
Meaning of Riba ,[object Object],[object Object],[object Object],[object Object],[object Object]
TYPES OF RIBA ,[object Object],[object Object],[object Object]
RIBA OF Debt [Riba al diyun] ,[object Object],[object Object],[object Object]
RIBA OF TRADE [ Riba al fadl] ,[object Object],[object Object],[object Object]
Meaning of Riba al Fadl ,[object Object],[object Object],[object Object]
RIBA, INTEREST AND USURY ,[object Object],[object Object],[object Object]
AVOIDANCE OF GHARAR ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
TYPES OF ISLAMIC CONTRCTS Fixed Payment Nothing is determined No Gharar Some Gharar Gharar is allowed Ratio is determined Islamic Contracts Muwadat Musharakat Tabarruat
TYPES OF ISLAMIC CONTRCTS [contd.] ,[object Object],[object Object],[object Object]
DEBT FINANCE Vs. PARTICIPATORY FINANCE ,[object Object],[object Object],[object Object],[object Object],[object Object]
DISADVANTAGES OF RIBA BASED FINANCE ,[object Object]

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Islamic Finance Prohibitions and Principles

  • 1. Riba , Gharar and Islamic finance AUSAF AHMAD Islamic Cultural Centre of India New Delhi May 04 2008
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  • 19. TYPES OF ISLAMIC CONTRCTS Fixed Payment Nothing is determined No Gharar Some Gharar Gharar is allowed Ratio is determined Islamic Contracts Muwadat Musharakat Tabarruat
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Hinweis der Redaktion

  1. The verse 2:279 is the strongest condemnation of Riba.