Gains without battle
Muslims can take booties left by enemies who ran away in fear of Muslim army. They are called “Fay”; they could be given to the poor or the ruler decides how they will be used in the best interest of the community.
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Truce agreements
Muslim rulers could make truce agreement with their enemies to cease fighting for specific duration if it is in favor of Muslim community. They also can make peace treaty which must be respected by both parties.
War gains
War gains are to be divided into 5 shares according to Quran, 1 to the ruler and the other 4 shares among the army adult sane free soldiers according to their roles, scholars rulings need to be revised to be fit nowadays.
Dhimmah and jizyah
Dhimmah is the money paid by non-believers to the government to benefit from the services and protection offered. Financials should follow Islamic regulations while religious beliefs are theirs to handle.
Pledge of security
Pledge of security is terminology to describe the international relations nowadays. Rulings identified before by Muslim scholars needs to be revised according to the current international agreements.
Commercial Transactions
Commercial transaction is the exchange of property or benefit in the form of trade which is permissible as long as it happens in a certain frame. It’s preferred to have witnesses especially in large deals.
Conditions: The following conditions must be met for the sale to be valid
There are7 condition that must be took in consideration during selling process; an agreement between 2 sane adults on a known specific lawful object owned by the seller, and the buyer should have access to it.
Purchase by installments
Purchasing by installment is paying the value of a purchased item divided on installments paid at specific dates agreed on by both parties. This process is permissible in Islam as long as it fulfills 4 rules.
Usury: definition and ruling
Usury is charging a rate of interest upon lending money. It is forbidden in Islam and it is clearly stated in Quran. Only trade is permissible.
One: Riba al-Fadl (i.e. an increase in quantity)
Riba al Fadl is a term describing the deal exchanging the same type of commodities in different quantities favoring one of the parties and this is strictly forbidden in Islam even if the quality is different.
Two: Riba al-Nasi’ah (i.e. increase for a delay)
Riba is a word used to describe adding extra amount upon returning borrowed money or things in order to delay it. It is one of two types according to the method followed but in both cases it is strictly forbidden.
Loans: definition and supporting evidence
Loans are permissible in Islam only if they are to be returned later in the same amount. It is lawful and strongly encouraged through numerous verses and hadiths as a way to help others and easing their problems.
Validity of the pledge of security
The validity of pledge of security is a set of laws regulating the international relationships between countries before, but they need to be revised by Muslim scholars to fit with the modern laws nowadays.
Surety
Surety is an item given to the borrower as a security in case of not repaying the debt; The surety should be definite in type and description and can be used or sold. Surety is legitimate and regulated by six rules.
Partnership: definition and rulings
Partnership is joining two properties together and having joint rights. Upon being partners in a property, the rights including will, inheritance or gift are shared and supposed to be documented by a contract.
Hire
Hiring process in Islam is a process of assigning somebody to do specific tasks for a specific period of time. It is a method described in Quraan and Sunnah and it's mandatory to pay the employees their wages on time.
Conditions for hire
Hiring is required to fulfill seven conditions, hiring a sane adult capable employee within a specific period. The benefits should be specific, and the work itself should be lawful and managed by the hirer.
Borrowing
Borrowing is using a non-consumable item that doesn't belong to oneself and returning it intact after an agreed amount of time by the owner. Only the owner can lend his things and to be used in a lawful purpose
Wills and Inheritance
A will is an amount of inheritance to be distributed according to a sane testator desire and preferred not to exceed one third of the sum and to exclude the heirs, and to be distributed after paying all debts.
Inheritance
Inheritance is distributed among the heirs that should -according to the Islamic rules- fulfill one of the following characters, marriage or blood relation or Wala’: which is a contract between two persons.