The Obligation of Repaying The Debt.

Taking a loan (debt) is a form of mu'amalat (social and economic dealings) that is allowed by the Islamic Shari'ah to its adherents in facilitating their daily affairs. There are several conditions that have been stipulated by Muslim scholars upon the debtor and creditor so that such provision that is allowed in Islam does not get abused. Islam deems debt as a practice that is permissible when there arise genuine need and significance.....

Can You Invest with Borrowed Money?

I want to know whether it is permissible to borrow money for investments. Does Allah forbid us from buying goods or making investments (even if they are halal) using borrowed money, or does He stop us only from borrowing haram funds? Please, clarify the principle involved here, since I am unclear whether to borrow or not, for halal investments from halal sources?

Ethics and Finance

Ethics vs Money

Lakshita's blog

A key component of workplace ethics and behavior is integrity, being honest and doing the right things at all times. When it comes to ethics in the field of finance, ethical behavior is so important because finance involves the management of other people’s capital. Ethics in finance is one of the main things which everyone has to follow from the small, medium, and big level company because almost all the country depend upon the financial background of the country because without financial component, no business can run for a long time. The assumption of modern financial-economic theory runs counter to the ideas of honesty, devotion, dependability and loyalty. Ethics in finance may vary from different industries to different but everyone is liable to do their work at utmost good faith. People who are involved in finance activity have to serve both their company and their customers at utmost good faith.

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Kitab Al-Kasb Series (Part 36): Types of Squandering in Food.

There are various ways of squandering food. These include eating beyond satiety, for the Prophet says, "A son of Adam does not fill a vessel eviler than his stomach. If he cannot avoid it, then (let it be filled) one third with food, one third with drink, and one third with the breath" [Narrated by al-Tirmidhi, Ibn Majah and Ahmad]. And the Prophet says, "A few small morsels are enough for the son of Adam to fortify his backbone" [Narrated by al-Tirmidhi, Ibn Majah and Ahmad]. And he says, "There is no censure on sufficiency" [Narrated by Muslim, al-Tirmidhi, and Ahmad]....

Agriculture in Islamic Civilization in Pre-Modern Times

History usually conveys the notion that the agricultural revolution took place in recent times in the form of rotation of crops, advanced irrigation techniques, plant improvements, etc., and that some of those changes took place only in the last couple of centuries in Europe, whilst others are occurring today. It is explained that such revolutionary changes fed the increasing world population, released vast numbers of workers from the land and allowed agriculture to produce a capital surplus, which was invested in industry, thus leading to the industrial revolution of the 18th-19th century......

Some Dreams of a Separate Muslim Economy

Some currents in Islam, including political literalist Salafi-sm, want to separate Muslims to a large extent from the rest of the global economy. Influential Muslim economists such as M.A. Choudhury, for instance, have spoken out in favor of a separate group of Muslim countries setting up an Islamic World Trade Organization and freeing themselves from what they call ‘the yoke of Western dominance and manipulation’ in international economic relations. These countries would mainly trade with each other, ‘in a spirit of godliness and following the precepts of the sharia, with rules and institutions not imposed from above but developed in ongoing consultations’..........

Kitab Al-Kasb Series (Part 34): Warning Against Abstaining from Eating, Drinking and Taking Shelter.

"Whoever abstains from eating and drinking and taking shelter until he dies, has made entering the fire incumbent on him, for he has killed himself on purpose, it is as if he has killed himself with a piece of iron." The prophet has said, "Whoever kills himself with a piece of iron, then it is that piece of iron in his hand with which he will stab himself in the fire of hell." [Narrated by al-Bukhari and Muslim]....