In that case deposit is consideration (payment) and subject matter is what you get from bank for it (might be investment of sorts, depending on the bank) - I assume we are talking Islamic bank.
Assalamualaikum, can i have your views on how Murabahah contract is viewed to be shariah compliant. I believe some islamic banks uses this to help finance buying cars/houses to fellow muslims.
Assalam alaikum Renting IT peripherals and maintenance to use it for a certain period of time. Subject matter: IT peripherals and it's maintenance during the period of contract.
Great course! What about when people take loans not because they need it, but instead to use the money for their own investment purpose? This isn’t charity anymore
Salam. The task is to identify the subject matter of every transaction? Mr Colan, are those goods and services? or sales and purchases? receipt & payment? I'm humbly learning. Thank you.
We could think of that as part of rights - maybe better way to put it is “marriage itself”, as in entering into mutual agreement (for marital relationship) with rights and responsibilities
In Europe there are a few banks here and there. To finance real estate or business, they claim to be Sharia-compliant and have Halal certificates. From a consumer perspective, the contract between the bank and the borrower appears to be Sharia compliant. However, we do not know if the bank is involved in transactions that are not Sharia compliant, either intentionally or due to regulations in the country where it is located. Does this affect my contract as a borrower with the bank?
Salaam, Wondering if you could be kind and answer if it is permissible to have a benefit car through one's workplace as a Muslim? Thank you for your reply!
@@AlmirColan Do you mean that it is permissible for Muslims to have a benefit car? Is there no interest involved? Thank you for your knowledge and guidance
Leasing a property- subject matter is just right to use the property for a specified period by lessee while lessor is still owner of the property. 21.20- Can you clarify what you mean by ‘lessor is entitled to rental payments and he is also liable for any expenses relating to the ownership of loss in asset if any’. Does the rental payments which lessor is entitled to from lessee consist of the regular pre-specified annual service charge? Please clarify ‘lessor is liable for any expenses relating to the ownership of loss in asset if any’- would this entail any works which lessor wants to carry out on the property or property site that is not specified in the annual service charge works? Who would be liable for council tax charged by the local authority or government?
If the freeholder splits up a property or house into various units and local government or government bodies ensure that the units remain intact rather than the buyer who has acquired the individual unit or units which form part of a bigger lease and has not consented for the unit/s to remain intact, who would be liable for council tax for those respective unit/s?
I dont think Islamic banks is 100% free from ribaa, how comes they pay me profit in my diposite and there is no way they are allowed to deduct loss if they lose money, isnt that riba, funny enough their rate of profit is constant and its the same interest rate in my country( Kenya). If i asked them i dont want profit, let me just keep my money there they discourage you by charging fee.
You’re right. A lot of Islamic banks are just Islamic by name. I’ve seen a sheik refusing to endorse an Islamic bank because he found out the questionable business model. However, there are legitimate Islamic banks out there, it’s just hard to find them for regular people.
As long as the money is fiat currency issued by central banks on interest, or if there is fractional reserve banking in operation at the bank, then it will always be riba to some degree
Bismi'llah, Masha'Allah, Alhamduli'llah wa'llahu Akbar.
Jazakallahu khairan my dear brother. You teach well. May Allah reward you
Renting of an accommodation, the subject matter is the accommodation. Jazakumullahu Khairan
Yes - just to be more specific it’s right to use property
so glad Allah guided me to your page!
Wa alikum Assalam! Thank you for the useful information.
good Work MashaALLAH
Jazakallaah for this wonderful course. Consultant (eg IT) or any service providers. Subject Matter: your time per hour or per job or per project.
Yes, provision of service (expertise)
thanks for sharing
Assalamualaikum Warehmatulla Wabaraka tuhu
Please the series in an organized playlist
In Sha Allah
Jazakallah Khair
Done
Certificate of Deposit: Right of bank to use my money while I can earn a profit for foregoing temporary liquidity
In that case deposit is consideration (payment) and subject matter is what you get from bank for it (might be investment of sorts, depending on the bank) - I assume we are talking Islamic bank.
Assalamualaikum, can i have your views on how Murabahah contract is viewed to be shariah compliant. I believe some islamic banks uses this to help finance buying cars/houses to fellow muslims.
Can't believe over 1k folks watched this before me...😭😭😭
Lease a space for a used car dealership
Subject: Space to park used cars for sale
@@evangelineyuzon4733 yes, that is the core purpose of the agreement
Assalam alaikum
Renting IT peripherals and maintenance to use it for a certain period of time.
Subject matter: IT peripherals and it's maintenance during the period of contract.
Walaykumu salam - that’s right
Great course! What about when people take loans not because they need it, but instead to use the money for their own investment purpose? This isn’t charity anymore
It should be structured as investment
Im a shoe maker, I'm offer my service, the subject matter is: Client order a specific type and amount of shoes that I must make.
Salam. The task is to identify the subject matter of every transaction? Mr Colan, are those goods and services? or sales and purchases? receipt & payment? I'm humbly learning. Thank you.
Walaykumu salam - can be goods or services
Sir i work in a western union bureau de change
Whats ur advice?
Wedding: the right to live together
We could think of that as part of rights - maybe better way to put it is “marriage itself”, as in entering into mutual agreement (for marital relationship) with rights and responsibilities
In Europe there are a few banks here and there.
To finance real estate or business, they claim to be Sharia-compliant and have Halal certificates.
From a consumer perspective, the contract between the bank and the borrower appears to be Sharia compliant.
However, we do not know if the bank is involved in transactions that are not Sharia compliant, either intentionally or due to regulations in the country where it is located.
Does this affect my contract as a borrower with the bank?
You focus on what is between you and the bank - this is minimum level.
Salaam, Wondering if you could be kind and answer if it is permissible to have a benefit car through one's workplace as a Muslim?
Thank you for your reply!
Walaykumu salam - why not?
@@AlmirColan
Do you mean that it is permissible for Muslims to have a benefit car? Is there no interest involved?
Thank you for your knowledge and guidance
Leasing a property- subject matter is just right to use the property for a specified period by lessee while lessor is still owner of the property.
21.20- Can you clarify what you mean by ‘lessor is entitled to rental payments and he is also liable for any expenses relating to the ownership of loss in asset if any’. Does the rental payments which lessor is entitled to from lessee consist of the regular pre-specified annual service charge? Please clarify ‘lessor is liable for any expenses relating to the ownership of loss in asset if any’- would this entail any works which lessor wants to carry out on the property or property site that is not specified in the annual service charge works? Who would be liable for council tax charged by the local authority or government?
Yes for right to use property. Lessor is still the owner and all responsibilities related to ownership are his.
If the freeholder splits up a property or house into various units and local government or government bodies ensure that the units remain intact rather than the buyer who has acquired the individual unit or units which form part of a bigger lease and has not consented for the unit/s to remain intact, who would be liable for council tax for those respective unit/s?
Give us alternative to fiat currencies (100% haram) and we’ll then talk about Islamic finance ..
Asalamualaikum are the certs free?
You need to register for Muslim Money Matters membership in order to get it.
27:00 I'd espouse that in a SAAS (software-as-a-service) contract, the subject matter is the licence to use the hosted service 🤷
Yes, delivery of software application
I dont think Islamic banks is 100% free from ribaa, how comes they pay me profit in my diposite and there is no way they are allowed to deduct loss if they lose money, isnt that riba, funny enough their rate of profit is constant and its the same interest rate in my country( Kenya). If i asked them i dont want profit, let me just keep my money there they discourage you by charging fee.
You’re right. A lot of Islamic banks are just Islamic by name. I’ve seen a sheik refusing to endorse an Islamic bank because he found out the questionable business model. However, there are legitimate Islamic banks out there, it’s just hard to find them for regular people.
@@Lord_Escanor_Samacan you name any legit ones?
As long as the money is fiat currency issued by central banks on interest, or if there is fractional reserve banking in operation at the bank, then it will always be riba to some degree