content of level
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.
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.
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.
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.
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.