Part 1: How to Avoid Riba (Interest) in Modern Financial Dealings

We are pleased to present the first article in this series which explains a selection of ideas from the PhD thesis submitted to the University of Manchester by Mazoon-e-Dawat Syedi Dr. Abdeali Bhaisaheb AAB. (The PhD was completed in 2003 with the raza and doa Mubarak of Syedna Mohammed Burhanuddin RA). In this article are the following sections:

Section 1: What exactly is riba and why is it haraam?

Section 2: How can we transform a riba transaction, which is haraam, into a trade transaction, which is halaal, through the ‘Ina contract?

Section 3: Are there instances of Aimmat Tahereen and Duat Mutlaqeen endorsing ‘Ina and employing the ‘Ina contract?

Section 4: How can the ‘Ina contract be applied in the world of modern banking?

View other articles by Syedi Mazoon Saheb AAB on various finance related topics:

• Is Share Trading and Investment Allowed?
• Is Insurance Allowed?