The insurance contract 　　The commercial insurance contract is one of the unlawful contracts because of the gharar (risk due to uncertainty about the sold item) involved. The Messenger of Allah was reported to have forbidden the gharar-based selling. [Muslim on the authority of Abu Hurayrah, may Allah be pleased with... More

　　Mortgaging refers to the security for a debt against an article that can cover it or its value (in case of non-fulfillment). 　　Mortgaging is permissible according to the Noble Quran, the Sunnah (Prophetic Tradition) and the consensus of Muslim scholars. Allah, the Exalted be He, says (what means): {...And if... More

　　Monopoly, or Ihtikar in Arabic, is a prohibited practice in Islam because it leads to injustice. The Prophet Muhammad has made explicit and specific statements about it. For example, he said: "Whoever withholds food (in order to raise its price), has certainly erred!" [Muslim] Also: "Whoever strives to increase the... More

　　Definition 　　Linguistically, 'Al-Luqatah' refers to anything that is found and picked up from the ground. Technically, as Imam Ibn Qudamah a Muslim scholar, defined it as: 'Property that the owner loses and a person finds and takes away (to preserve it in trust).' 　　Legal Validity 　　Muslim scholars vary about the... More

　　Gift-giving is one of the good manners that maintains and strengthens relations between the giver and the recipient. It is one of the acts that Prophet Muhammad recommended Muslims to do. Al-Bukhari narrated that ‘Aa’ishah said: "The Messenger of Allah used to accept gifts and reward people for giving them."... More