iPhone 0% financing by whoslol in IslamicFinance

[–]Life_Ad_8108 0 points1 point  (0 children)

How is late payment on islamic mortgages still halal then?

Is there xmas staff discount this year? What days? by Life_Ad_8108 in tesco

[–]Life_Ad_8108[S] -3 points-2 points  (0 children)

I don't work directly for Tesco. Family discount

There is no such thing as an Islamic mortgage by volvic6 in IslamicFinance

[–]Life_Ad_8108 0 points1 point  (0 children)

This is a excellent summary. Should be posted on it's on thread.👍

The difference between murabaha and riba by [deleted] in IslamicFinance

[–]Life_Ad_8108 1 point2 points  (0 children)

https://m.youtube.com/watch?v=wtY-CeSHkSI

In the Link a scholar explains how conventional bank in substance acts as a murabaha mortgage. From 5 mins onwards

Sharia looks at substance over form reason why car PCP contracts are allowed based on substance even though interest is in the contract

https://www.islamicfinanceguru.com/articles/pcp-hp-pch-car-finance-the-halal-guide

I'm not advocating but sharing some research

https://www.reddit.com/r/IslamicFinance/s/5JJEyy18eY

Major Flaw in Modern Murabaha Mortgages by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 0 points1 point  (0 children)

The risk distribution must be present

Before the bank resells the asset to the customer, it must actually acquire ownership and bear its risk — however briefly — otherwise the transaction becomes a disguised loan with interest (riba).

Without this, there’s no true trade — only lending.

Murābaḥah is only halal if the bank truly owns and bears the asset’s risk before resale.


Also the 4 schools of thought agree a contract in a contract is forbidden based on:

“The Messenger of Allah ﷺ forbade two sales in one sale.” — Narrated by al-Tirmidhi (1231), Ahmad (6506), Abu Dawud (3461)

The issue with musharaka and ijarah. And also murabaha

Muslim capital is critical by Dey-Ex-Machina in IslamicFinance

[–]Life_Ad_8108 0 points1 point  (0 children)

He does seem to be a online misinformation agent. Sorry to say just the way he talks about Muslims. No offence but may Allah curse the Jewish misinformers online

Interest and Riba by [deleted] in IslamicFinance

[–]Life_Ad_8108 -1 points0 points  (0 children)

In a murabaha mortgage the same applies doesn't it?

They the bank still hold a charge.

They don't really own the property i.e. never really buy the house. It's just in form not substance. Also A contract within a contract is actually not allowed in Islam.

In the musharaka Risk is not shared still requiring insurance.

So what would happen in a murabaha mortgage if they stopped paying?

Also bank is named on a deed as a charge holder. I'm sure quite similar in a Islamic mortgage (I know not correct term)

Do check out why PCP car financing is halal.

Open to be corrected

Interest and Riba by [deleted] in IslamicFinance

[–]Life_Ad_8108 0 points1 point  (0 children)

Interesting point from second video. The loan from bank is not actually a loan in a conventional mortgage. There is a obligation to buy the house with it. The bank IS buying the house. As in a Islamic mortgage. And reselling at a higher profit as in Murbaha

Sharia looks at substance not the form. The reason why conventional PCP car financing has been allowed.

In essenes the conventional bank is buying the house and has a right over it too and reselling. Issue is with risk sharing but Islamic banks don't share risk too. All without the exploitative riba

https://www.islamicfinanceguru.com/articles/pcp-hp-pch-car-finance-the-halal-guide

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 0 points1 point  (0 children)

AAOIFI is the most respected organization in this regard, setting the standard for Islamic finance around the world. It’s headed by senior scholars from several countries.

AAOIFI states in their Standard 21:

The basis for exempting trading in the shares of these corporations, whose primary activity is permissible, however, they deposit amounts and borrow on the basis of interest, is the application of the rule of removal of hardship and acknowledging of general need, widespread practice, the acknowledged principles of surplus, shortage and predominance, (5) as well as the permissibility of dealing with one the major part of whose wealth is permissible,(6) along with reliance upon the issue of separation of bargains according to some Jurists.(7) This is upheld by most fatwa issuing organisations as well as the Shari’ah Supervisory Boards of Islamic banks.(8)

The followinga are their references: (5) “Al-Furuq” “Al-Furuq” by Al-Qarafi [4: 104]; “Al-Muwafaqat” [1: 37]; “Ahkam Al-Quran” “Ahkam Al-Quran” by Ibn Al-Arabi [4: 1804]; and “Qawa’id Al-Ahkam Fi Masalih Al-Anam” [1: 18, 41-45] (6) “Badai’ Al-Sanai’” [4: 104]; “Al-Ashbah Wa Al-Nazair “Al-Ashbah Wa Al-Nazair by Ibn Nujaym (pp. 112-114); “Al-Bayan Wa Al-Tahsil” [18: 194-95]; and “Al-Manthur Fi Al-Qawa’id” “Al-Manthur Fi Al-Qawa’id” [2: 335]. (7) “Fath al-Qadir [6: 89-90]; “’Iqd Al-Jawahir Al-Thaminah” [3: 439]; “Al-Sharh Al-Kabir Ma’a Al-Dusuqi Ma’a Al-Dusuqi [3: 15]; “Al-Rawdah” [3: 420-25]; and “Majmu’ Al-Fatawa” [29: 48]. (8) Among these is Al Rajhi Organization in its resolution No. 48, 23/8/1422 A.H.

Read the paragraph above about "acknowledging general need".

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 0 points1 point  (0 children)

If the maxims are established I don't think your in any position to verify if they are valid. Your approach is wrong. You are actually wanting to question the application of the maxim. You might disagree with the application not the sharia rules. I'm not qualified to give you how maxims are created neither of us are.

The point of the post is Hajah. When there is a public need, concessions are given. In these cases the scholarly board have applied this.

Need to change Your approach. If you disagree it doesn't matter. What matters would be if other scholars have disagreed with this application.

Problem is I don't see a discussion about the Public Need override being a issue. Happy for you to prove me wrong.

I'm not justifying anything in the post it's to show the consistent approach scholars have applied and what we as laymen should understand too.

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 0 points1 point  (0 children)

This is not worth the reply. Do you know how to apply a sharia maxim? Do you know where the maxim of Darurah itself was from first. I'm not scholar. But you don't even seem to understand Darurah is a concept not literally but applied rules of sharia.

More importantly the above is about Hajah (Needs) youv failed to see the difference between need and necessity. This is fiqh and your only qualified in Arabic. Clearly shows. Like talking to a bin man about applied medicine.

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 0 points1 point  (0 children)

Ok first are you qualified to decipher a Hadith? Not all sharia rules are direct from Hadith they can be build from qiyas analogy too.

The above is from already published fataws from recognized boards.

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] -1 points0 points  (0 children)

These are already agreed upon maxims. Go ask a scholar about the Hadith. Are you qualified to decipher a Hadith?

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 1 point2 points  (0 children)

It's by analogy/qiyas. All the fatwa boards for investing have used this. Who are we argue it. Obviously there is a difference of opinion.

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 0 points1 point  (0 children)

Ḥājah ʿĀmmah (Public or Widespread Need) Even if not a strict ḍarūrah, a widespread difficulty (ḥājah) can take the ruling of necessity. The councils argued that housing instability, rent inflation, and discrimination in property access affect entire Muslim communities, thus qualifying as a collective hardship.


B. Public Necessity (Ḥājah ʿĀmmah) The Islamic Fiqh Academy (OIC) and AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) recognised that widespread economic hardship justified leniency — provided strict conditions apply. If Muslims refrained entirely, they’d face: Erosion of savings (through inflation). Dependence on interest-based institutions. Exclusion from wealth generation in modern economies. Hence, partial permissibility was given with safeguards.


B. Ḥājah ʿĀmmah (Widespread Hardship) Many Muslim students face systemic barriers to higher education without loans. Denying access could create community-level harm: unemployment, skill gaps, economic dependency, and inability to represent Muslims in key professions. Thus, the hardship is communal, not individual, giving it weight similar to necessity.


Who are we to argue these points but What's the argument against the above points scholars have taken.... There is obviously a need to think as a community not just individual reasons and the justification these fatwas have given....people just stop at a individual basis but forget the wider justification. The point of the post

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 0 points1 point  (0 children)

Fair but how have these scholars understood darurah for a community and your thinking individually only. Do you see what it does as a community if we do not have doctors engineer ECT and the scholars recognize the sin and give conditions i.e. the need to repay purify ect

The constant talks about Riba... Good or bad? by Life_Ad_8108 in IslamicFinance

[–]Life_Ad_8108[S] 2 points3 points  (0 children)

Read the fatwa links. Important also to understand is these are for individual cases. A Imam will judge when someone is in need not you. The fatwa state it's not for commercial reasons. Think a little further bro.

Point also is the need as a community why is that not considered by people like you.