An Amazing Weekend Course
By Sherzod on Nov 17, 2008 with Comments 6
Assalamu alaykum!
Mashallah, last weekend (15.11.2008 – 16.11.2008) I attended a really interesting course “The Real Deal. The Fiqh of Business Transactions 101″ organised by Al Kauthar Institute at the Birmingham University. It was a two day course taught by Sheikh Tawfique Chowdhary, may Allah protect him and shower him with His bounties.
The two day course covered many topics, hot issues and very intersting case studies. It was shocking to realise how ignorant many are of the rules and regulations in the Shariah regarding our dealings in business, or even buying and selling in general.
For example, most people would think that riba is when you give someone £100 and ask to return £110, yes, this is clear riba. In addition, If you give someone £100 and ask him to return it in US Dollars, this too is classed as riba.
Shockingly, If you give £100 in £20 notes and ask him specifically to return in £50 notes only, this is also classed as riba! This is because one would be trying to derive a benefit out of the transaction in both scenarios. Subhanallah, these are only a few of many examples that the Sheikh gave us.
Personally, I was overwhelmed with the amount of information and knowledge that was taught on that day, so many things to learn to make your earnings halal.
Inshallah, I will be posting my notes that I took while attending the course on this blog so that you also can benefit from it.
Similar Posts:
Filed Under: News • Shariah & Business
[...] these notes while attending the course organized by Al Kuathar Institute. I posted an introduction here [...]
Salaams
I was at the Mark of a Jurist in Manchester.. very hard course but rewarding..
salams akhi
Juazakallahu khairan for your blog. Just to clarify what shaykh Tawfique (hafidhahullah) said with regards to the changing money like the example above, you give £100 and want it in back in £50 notes.
From what i remember in the course that it is fine if it is hand in hand (there and then). Meaning if you go to a bank with a £20 note and want them in coins (e.g. pound coins) then it is fine. But if there is a delay, like hours and days later, then it would be counted as riba of delay.
OR if you lend someone £100 and say give it back to be in £50 notes. This is counted as riba because you are benefitting from this lending.
What i also found quite fascinating is when the shaykh told us that Imam Abu Hanifa (rahimahullah) would not even take shade under the tree of roof of a person he lent money to. This is so that he is not benefitting from that lending. WOW.
Allah knows best.
Jazakallahu khairan for clarifying it, brother.
asalaamualaikum,
I’m also making notes from the course inshallah. I’m confused on something. What does it mean ‘child who has reached the age of DIFFERENTIATION’?
is this different to puberty age?
jazaakallah
Assalamu alaykum Br Saeed!
I am sorry I am not 100% sure what it means. I advise you to ask the sheikh himself on his forum.
Are you posting your notes on your blog as well? what is the address?