riba Archives - Amanah Advisors

23 Jun 22

An Exploration of the Meanings of Riba in the Qur’an | Riba Exposed Series – 3

Mufti Faraz Adam

The word Riba is constructed of three root letters, namely Ra, Ba and Waw. Interestingly, the word for profit in Arabic is Ribh, which is constructed of three root letters too, namely Ra, Ba and Ha. Despite the familiarity in terms of their root letters, there is a world of difference between Riba and Ribh, […]

29 Mar 22

Zakat vs Riba | Riba Exposed Series – 2

Mufti Faraz Adam

Two forces have been at odds since the beginning of time; the forces of good and the forces of evil. These battles are manifest in every arena of life, including the economic arena. And it is this economic face/off which is captured in the following verse of Surah al-Rum: “Whatever Riba you give, so that […]

20 Feb 22

Can we Really Understand Riba? | Riba Exposed Series – 1

Mufti Faraz Adam

This is part one of several posts to be released breaking down Riba piece by piece. The more we dwell and ponder on the Shariah framework and principles, the more it becomes clear that truly, whatever Shariah has discouraged is for our benefit. Islam is guidance, and guidance is always in the interests of the […]

28 Jul 21

Purchasing Foreign Currency Online with Deferred Delivery

Mufti Faraz Adam

Question: Is it permissible to purchase foreign currency online and receive it at a later date? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. The Answer: According to contemporary Hanafi scholars, it is permissible to purchase foreign currency and receive it at a later date as long as […]

09 Jun 21

Why is there extensive regulation on lending in Islamic Finance?

Mufti Faraz Adam

Qard (loan agreements) is not a very common product provided to customers of Islamic Financial Institutions (IFIs) bar some products such as Ujrah-based credit cards, micro-lending among others. That should not be of any surprise as lending is not a for-profit financing arrangement and instead has a lot of ethical requirements and concerns from a […]

riba

An Exploration of the Meanings of Riba in the Qur’an | Riba Exposed Series – 3

Zakat vs Riba | Riba Exposed Series – 2

Can we Really Understand Riba? | Riba Exposed Series – 1

Purchasing Foreign Currency Online with Deferred Delivery

Why is there extensive regulation on lending in Islamic Finance?

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