Taught By Shaykh Abu Eesa (3 hour)
Money Matters
Introduction
Shaykh Abu Eesa begins this module on Fiqh of Earning & Spending by explaining the importance of this topic and why we must ensure that our money transactions are halal. Topics that will be covered include: interest, credit cards, investments, insurance and more.
Lesson 1 - Introduction
Shaykh Abu Eesa begins this module on Fiqh of Earning & Spending by explaining the importance of this topic and why we must ensure that our money transactions are halal. Topics that will be covered include: interest, credit cards, investments, insurance and more.
Lesson 2 - Perception On Wealth
It’s been narrated that the Prophet (SAW) said: “The most beloved of places to Allah are the mosques, and the most despised places to Allah are the markets.” Shaykh Abu Eesa discusses the different narrations and verses that show the importance of balancing our worship with earning money.
Lesson 3 - Principles
Allah (SWT) commands us to fulfill our contracts. Does this leave any room for negotiation if the market changes or if it’s socially acceptable to cheat others? Understand the basic Islamic principles of contracts and agreements in business and trade.
Lesson 4 - Riba
Why is interest prohibited when the essence of riba is something positive? Does the amount of interest change the ruling – for example if there’s only 3% interest compared to 50%? Sh. Abu Eesa shares examples of what counts as riba and the warnings given by Allah (SWT) regarding interest.
Lesson 5 - Debt
What’s the difference between a debt (dayn) and a loan (qard) and do they have the same rulings? Can you expect a favor in return for lending money to someone? This then leads to the discussion of mortgages.
Lesson 6 - Contracts
How is a gift, charity, and a loan each considered a contract? Shaykh Abu Eesa discusses different types of contracts and the conditions and rulings of each one.
Lesson 7 - Banks
Shaykh Abu Eesa explains how banks use your money and why in principle, it’s impermissible to deal with conventional banks. However, in modern times, banks have become a necessity to use, so how then should we deal with this matter?
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