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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.
Endowment
Endowment means dedicating something that can give benefit, while retaining ownership of it, in order to gain reward from Allah. This means that the principal is retained, but the yield is given freely
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
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.
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.
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.
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.
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.
What is Murabaha?
What is Murabaha? - Assim al hakeem.
Commercial Transactions
Essentials: A sale has three essentials: parties, subject of sale, and a formula.Witnesses: To have witnesses to a sale is recommended, but not obligatory. Allah says: ‘Have witnesses when you make business deals’ (2: 282).
Learn Fiqh with Al-Hakeem | Borrowing
In this Lecture, Sh. Assim Al-Hakeem discusses and explains the Borrowing. This course will cover all the practical rules that every Muslim, man or woman, should know, citing their bases in the Qur’an and the Sunnah.
Learn Fiqh with Al-Hakeem | Partnership
In this Lecture, Sh. Assim Al-Hakeem discusses and explains the Partnership. This course will cover all the practical rules that every Muslim, man or woman, should know, citing their bases in the Qur’an and the Sunnah.
Learn Fiqh with Al-Hakeem | The Types of Usury
In this Lecture, Sh. Assim Al-Hakeem discusses and explains The Types of Usury(riba)
Learn Fiqh with Al-Hakeem | The conditions required in buying and selling
In this Lecture, Sh. Assim Al-Hakeem discusses and explains the conditions required in buying and selling.
Learn Fiqh with Al-Hakeem | Commercial Transactions
In this Lecture, Sh. Assim Al-Hakeem discusses and explains the Commercial Transactions.
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
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.
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.
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.