{"id":18154,"date":"2020-11-13T22:22:36","date_gmt":"2020-11-13T22:22:36","guid":{"rendered":"http:\/\/daruliftabirmingham.co.uk\/?p=18154"},"modified":"2020-11-13T22:22:36","modified_gmt":"2020-11-13T22:22:36","slug":"how-can-we-tell-a-financial-situation-is-shariah-compliant","status":"publish","type":"post","link":"http:\/\/daruliftabirmingham.co.uk\/home\/how-can-we-tell-a-financial-situation-is-shariah-compliant\/","title":{"rendered":"How Can We Tell a Financial Situation Is Shariah Compliant"},"content":{"rendered":"

\n\tFatwa ID: 04516<\/strong><\/span><\/span>\n<\/p>\n

\n\tAnswered by: Maulana Nabil Khan <\/span><\/span><\/strong>\n<\/p>\n

\n\t \n<\/p>\n

\n\tQuestion<\/u><\/b>:<\/u><\/b> <\/b><\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tWhen assessing if a financial institution is shari'ah compliant or not, what are some of the key things we look at?<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\t\u0628\u0650\u0633\u0652\u0645\u0650 \u0627\u0644\u0644\u0647\u0650 \u0627\u0644\u0631\u0651\u064e\u062d\u0652\u0645\u0646\u0650 \u0627\u0644\u0631\u0651\u064e\u062d\u0650\u064a\u0652\u0645<\/span><\/span><\/strong>\n<\/p>\n

\n\tIn the name of Allah, the Most Gracious, the Most Merciful<\/u><\/b><\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\t \n<\/p>\n

\n\tAnswer:<\/u><\/b><\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tContemporary Islamic Finance is a sensitive topic. Shariah has taught us the jurisprudence regarding all aspects of transactions and business and the parameters surrounding the Islamic morals and ethics found within them.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tDue to the serious charges that have changed in the world economy by way of banks, credit cards, leasing, loaning, investing, cryptocurrencies, and much, much more that have affected the entire world including Muslim countries it is very important to understand what to look for in terms of halal\/shariah-compliant alternatives.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tSince these financial issues are facing constant change and are highly affected by regulations and governing bodies in many aspects it is important that one goes to the right individuals in this regard. These issues are amongst the Nawazil (contemporary fiqh issues) and one should follow only the individuals that are recognized scholars and worthy of being trusted in this regard.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tGenerally speaking, there is a very well known and trustworthy shariah board which is chaired by Mufti Taqi Uthmani and contains leading shariah scholars worldwide. This board is well trusted and the standards applied are both Shariah-compliant as well as practical in both western and eastern societies. This board is the Aaoofi board and should be used as a reference point to act upon the opinion of the mainstream scholars in this field rather than individual opinions.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\t \n<\/p>\n

\n\tReference:<\/u><\/b><\/span><\/span>\n<\/p>\n

\n\tAl-Fatwa Wa Fiqh Al-Nawazil Pg 13<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\t \n<\/p>\n

\n\tOnly Allah knows best<\/span><\/span>\n<\/p>\n

\n\tWritten by Maulana Nabil Khan<\/span><\/span>\n<\/p>\n

\n\tChecked and approved by Mufti Mohammed Tosir Miah<\/span><\/span>\n<\/p>\n

\n\tDarul Ifta Birmingham<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\t <\/p>\n","protected":false},"excerpt":{"rendered":"

Fatwa ID: 04516 Answered by: Maulana Nabil Khan   Question:   When assessing if a financial institution is shari'ah compliant or not, what are some of…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[],"_links":{"self":[{"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/18154"}],"collection":[{"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/comments?post=18154"}],"version-history":[{"count":2,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/18154\/revisions"}],"predecessor-version":[{"id":18176,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/18154\/revisions\/18176"}],"wp:attachment":[{"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/media?parent=18154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/categories?post=18154"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/tags?post=18154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}