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Economic
Challenges
For Muslims In America
Jamal
Badawi Muslims who are
sincerely striving to please Allah must be concerned with their
financial dealings. In societies and systems where interest is
the rule of the day, how are Muslims able to participate without
compromising their cherished Islamic principles? And do Muslims
really understand their responsibilities regarding their wealth
and income? Dr. Jamal Badawi examines this issue by providing
possible solutions for three economic challenges: selling things
that are forbidden, the question of riba (is it the same as interest?)
and the question of insurance. He then briefly touches upon the
following areas of concern: indirect riba, saving plans and pensions,
student loans, working at a bank or insurance company, and interest
accrued on bank accounts. Other topics discussed: leasing cars,
leasing a house Islamically but paying more for it, paying over
time (deferred payment), leasing equipment, how to explain why
interest is forbidden, and if Islamic economics are just theory.
(Duration: 1 hour, 15 min + DVD
bonus lecture)
Jamal Badawi is professor
of management and religious studies at St. Mary's University
in Halifax, Nova Scotia. He is a well-known author and speaker
on Islam who appears often on TV and radio programs. He serves
on the board of CAIR-Canada and is also a member of the Fiqh
Council of North America and the European Council for Fatwa and
Research, headed by Yusuf al-Qaradawi.
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