Today's Reminder

July 05, 2022 | Dhuʻl-Hijjah 5, 1443

Living The Quran

Intellectual Faculties
Yunus (Jonah) - Chapter 10: Verse 100

"And it is not for a soul to believe except by permission of God , and He will place defilement upon those who will not use reason."

All of God's bounties are solely at His disposal and one can neither have access to any of these without His leave, nor can one confer them on others. The bounty of having faith and being directed to the right path is also fully contingent upon God's leave which is based on whether or not people's intellectual faculties are alive. Those who do not use their intellectual faculties or those who use them in improper ways, are devoid of God's leave to believe.

The Quran attaches great importance to the intellectual activities or faculties, all of which it relates to the "heart;" these faculties are reflection, using reason, considering, knowledge, insight, "hearing," etc. It regards anyone who is devoid of these as being dead. Even if we relate all these to the heart, or each to a different faculty, the way to keep these alive is to refrain from being pre-conditioned, and to avoid prejudices, incorrect viewpoints, evil intentions, sins, wrongdoing, arrogance, and selfishness. These are the vices which prevent one from believing.

Compiled From:
"The Quran: Annotated Interpretation in Modern English" - Ali Unal, pp. 444
"Towards Understanding the Quran" - Syed Abul Ala Maududi, Vol. 4, p. 69

From Issue: 634 [Read original issue]

Understanding The Prophet's Life


It is not required of the Muslim to inquire about what he has not witnessed, i.e., How was the animal killed? Did the manner of Slaughter meet the Islamic conditions? Was the name of Allah mentioned while slaughtering or not? If the animal was slaughtered by a Muslim, even if he is ignorant or sinful, or by someone from among the People of the Book, eating it is halal for us.

Reported by Aisha (may Allah be pleased with her), "A group of people said to the Prophet (peace be upon him), 'Some people bring us meat and we do not know whether they have mentioned Allah's Name or not on slaughtering the animal.' He said, 'Mention Allah's Name on it and eat.' Those people had embraced Islam recently." [Bukhari]

Concerning the application of this hadith, scholars say: This is proof that the actions and practices of people are ordinarily considered to be correct and appropriate, while deviation or error must be proved.

Compiled From:
"The Lawful and Prohibited in Islam" - Yusuf Al-Qaradawi

From Issue: 906 [Read original issue]

Cool Concepts


'Musharakah' is a word of Arabic origin which literally means sharing. In the context of business and trade it means a joint enterprise in which all the partners share the profit or loss of the joint venture. It is an ideal alternative for the interest-based financing with far reaching effects on both production and distribution.

'Interest' predetermines a fixed rate of return on a loan advanced by the financier irrespective of the profit earned or loss suffered by the debtor, while Musharakah does not envisage a fixed rate of return. Rather, the return in Musharakah is based on the actual profit earned by the joint venture. The financier in an interest-bearing loan cannot suffer loss while the financier in Musharakah can suffer loss, if the joint venture fails to produce fruits. Islam has termed interest as an unjust instrument of financing because it results in injustice either to the creditor or to the debtor. If the debtor suffers a loss, it is unjust on the part of the creditor to claim a fixed rate of return; and if the debtor earns a very high rate of profit, it is injustice to the creditor to give him only a small proportion of the profit leaving the rest for the debtor.

In the modern economic system, it is the banks, which advance depositors' money as loans to industrialists and traders. If industrialists having only ten million of their own, acquire 90 million from the banks and embark on a huge profitable project, it means that 90% of the project has been created by the money of the depositors while only 10% has been created by their own capital. If this huge project brings enormous profits, only a small proportion i.e. 14 or 15% will go to the depositors through the bank, while the industrialists whose real contribution to the project is not more than 10% will gain all the rest. The industrialists take even this small proportion of 14 or 15% back, because they include this proportion in the cost of their production. The net result is that all the profit of the enterprise is earned by the persons whose own capital does not exceed 10% of the total investment, while the people owning 90% of the investment get no more than the fixed rate of interest which is often repaid by them through the increased prices of the products. On the contrary, if in an extreme situation, the industrialists go insolvent, their own loss is no more than 10%, while the rest of 90% is totally borne by the bank, and in some cases, by the depositors. In this way, the rate of interest is the main cause for imbalances in the system of distribution, which has a constant tendency in favour of the rich and against the interests of the poor.

Conversely, Islam has a clear-cut principle for the financier. According to Islamic principles, a financier must determine whether he is advancing a loan to assist the debtor on humanitarian grounds or he desires to share his profits. If he wants to assist the debtor, he should resist from claiming any excess on the principal of his loan, because his aim is to assist him. However, if he wants to have a share in the profits of his debtor, it is necessary that he should also share him in his losses. Thus the returns of the financier in Musharakah have been tied up with the actual profits accrued through the enterprise. The greater the profit achieved by the enterprise, the higher the rate of return to the financier. If the enterprise earns enormous profits, all of it cannot be secured by the industrialist exclusively, but they will be shared by the common people as depositors in the bank. In this way, Musharakah has a tendency to favour the common people rather than the rich only.

“Musharakah & Mudarabah” - Taqi Usmani

From Issue: 475 [Read original issue]