In secular societies, people of faith must sometimes make difficult decisions about business and finance. They can opt to resist anything that counters conscience and belief. Alternatively, they can subordinate religious principles altogether as a matter of convenience. A third path is to discern a possible middle path whereby sacred
Home ownership in the United States carries a certain honor. In a country where property rights have a hallowed place, to hold title to real estate reflects financial security and civic responsibility. Owners are stakeholders in their communities so, needless to say, proprietorship is a desired status. Few, however, would
You must have asked yourself this question at some point. Is it better to buy or rent a house? The answer to this question depends on your unique situation. Imagine, after renting for so many years, you would look back and wish you had purchased a house. Or you might
Key Takeaways * Islamic financing refers to banking, lending, capital financing, saving, and investing activities that comply with Shariah or Islamic law. * Under Shariah Finance, Muslims must only invest in business ventures or stocks of companies that abstain from practices forbidden in Islam. * Interest also known as Riba is haram in
Key Takeaways * Conventional term based life insurance is not permissible since this form of life insurance contains elements of gharar (uncertainty), maysir (gambling) and riba (interest) which are all deemed to be haram in Islam. More on that later in the article! * A takaful model can provide a halal life
Key Takeaway: * Credit cards give credit cardholders the ability to borrow funds for purchases up to the credit card’s limit. If you return the borrowed funds in time (statement balance), you will not have to pay any interest. * Not all credit cards are haram. Muslim scholars are unanimous that
Muslim communities in the United States are finding an increasing number of commercial operations are vying for their patronage. As with other faiths, this demographic can be more or less exacting in terms of religious observance. Nevertheless, a large portion of the followers of Islam seek to honor its requirements
Zakat is an important obligation in Islam. It is meant to help the poor and promotes the overall financial well-being of society. Every adult Muslim who has accumulated the level of wealth on which Zakat is obligatory must pay Zakat. This article will help you calculate Zakat on gold. Calculation
Learn everything about islamic mortgage. Make a confident decision about your halal home ownership journey.
Key Takeaways * Gharar means uncertainty, deceit, risk, and hazard. * Islam promotes openness and certainty in business transactions therefore gharar is prohibited in Islam. * There are two types of gharar: gharar yasir (minor uncertainty) and gharar fahish (extreme uncertainty). Gharar yasir in a financial contract is permissible but contracts involving gharar
Muslims who plan to buy a house through Islamic Mortgage can use Islamic Mortgage Calculators to calculate mortgage payments. If you are planning to buy a house, you must check how much loan you can afford to take. Homebuyers often end up taking too many loans and buying a bigger
Islamic Finance
As Muslims continue to grow, as a percentage of the population in the United States, it is only expected that like-minded business and commercial enterprises will multiply to accommodate this expanding market. A primary example of this phenomenon is in the real estate finance sector. Since Halal practices are important