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) 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.
|
