The Islamic banks do not charge interest

Your first cryptocurrency purchase Leave your opinions in the comments source of Islamic law. Throughout the life of the Prophet, Muslims asked him to explain certain passages of the Qur’an in order to be able to continue living according to the model that God had taught them. The Sunnah of the Prophet was written for this. Get a 200% bonus after your first deposit. Use this promo code: argent2035 Article to Read: How to Create a Payoneer Account in 2021 It is a set of words, deeds and approvals of the Prophet.

The first limitation The first restriction

On the basis of which Muslims can draw inspiration to determine their moral orientation and behavior. As a secondary source of Islamic law consensus (ijma), reasoning by analogy ( Qiyas ) and interpretation ( Ijtihad ). The word Ijma Lithuania Mobile Number List means “agreement on a question” and corresponds in this case to the agreement reached by Muslim jurists on certain questions of law or on a particular situation. Qiya is a rule of law that is created based on the interpretation of a new situation using rules that already exist in the Qur’an or Sunnah. Prohibitions in Islamic Finance  is interesting practice ( riba ), and the Qur’an specifically forbids it. This form of interest dates back to the pre-Islamic period and has a very specific function.

The borrower must repay

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If the borrower defaults,  the lender more money than their original loan as a default penalty. Therefore, these interest rates are largely favorable to the lender and can put the borrower in considerable difficulty. Article to Read: Affiliate Marketing: What BH Leads You Need to Know? At the time Mohammed t, the development of riba created a situation of quasi-slavery for borrowers who were unable to repay. It is a unique form of usurpation that the Prophet sought to prohibit in the first place, i.e. fish. The second big ban After Riba, Gharar (uncertainty) constitutes the second major prohibition seen in Islamic finance. It can be defined as the randomness of probable elements, the uncertain and risky nature of which makes it similar to gambling.

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