1. Introduction to Contracts & Transactions | Islamic Finance 101

[@ZziwaUmar-in1kf]

Brother colan , May Allah prolong your life,and Allah forgive and protect you , grant you more knowledge and understanding.

[@farukm7627]

Jazakallaah for this wonderful course. Consultant (eg IT) or any service providers. Subject Matter: your time per hour or per job or per project.

[@AlmirColan]

Yes, provision of service (expertise)

[@muhammadabdullahirimi2049]

Project Manager (Civil Engineering works). Subject matter: your time and expertise.

[@hb3074]

so glad Allah guided me to your page!

[@ulugbekabuabdullohmizrobogli]

salam alaykum, Brother. i've been waiting for your course! thank you so much! may Allah reward you!

[@nasreenakhtar8521]

Jazakallahu khairan my dear brother. You teach well. May Allah reward you

[@muhammadali-rn5ez]

Renting of an accommodation, the subject matter is the accommodation. Jazakumullahu Khairan

[@AlmirColan]

Yes - just to be more specific it’s right to use property

[@abdouuser-cw8kd8kq2g]

حفظك الله وزادك فالعمر والعلم وهدى الله بك

[@rockstarali99]

May Allah benefit you for the sadaqah you’re doing upon the Ummah to live a financially halal life, so often neglected a topic this is.

[@abdelkaderchelfi6497]

Bismi'llah, Masha'Allah, Alhamduli'llah wa'llahu Akbar.

[@ayeshairam8282]

Assalamualaikum. Glad to be here in ur channel. May Allah SWT protect u brother. Renting a house, subject matter is right to use the house.

[@saranaeem1134]

Wa alikum Assalam! Thank you for the useful information.

[@ZziwaUmar-in1kf]

Good initiative please keep it up, coz many of us are most likely to be resurrected from the captivity of world economic eclipse. So, Islam is the answer to all global challenges in all aspects of humanity life.

[@shaikridhuan4215]

Example of contract would be contract of marriage; Aqad Nikah. Where your offer is to show that you are capable of providing and protecting the woman (nafkah) and the acceptance is from the father where he transfers his protection over his daughter over to you, his future in law. JazakAllah Khair

[@andiloabboul3379]

Djazak Allahu khayran

[@junaidzoraiz9249]

good Work MashaALLAH

[@ardithoxha2385]

Great Video!

[@thompsonjake04]

mashaAllah great video

[@freddykambata421]

Assalamualaikum Warehmatulla Wabaraka tuhu Please the series in an organized playlist In Sha Allah Jazakallah Khair

[@AlmirColan]

Done

[@omarmurad9313]

Purchasing of food. The subject matter is the ownership of the food.

[@baay81]

thanks for sharing

[@mdprawezalam1792]

Mashaallah❤

[@TheNiqabiDiaries]

Assalamu alaykum. Type of contract: social media manager, subject matter: digital service.

[@TheKhalipha]

Certificate of Deposit: Right of bank to use my money while I can earn a profit for foregoing temporary liquidity

[@AlmirColan]

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.

[@moshahid1983]

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.

[@AlmirColan]

Walaykumu salam - that’s right

[@durrrrty]

@@AlmirColanAssalamualaikum wa rahmatullah! In this case, who is responsible for the maintenance and repairs of the IT peripherals? ​

[@abdulbasit911]

JazakAllahu Khair brother Almir, as you have said everything is permissible but those that are prohibited, so I got a click on my mind, Does the same rule apply to foods that we eat?

[@ZziwaUmar-in1kf]

What are the recommended books about Islamic banking???.

[@AlmirColan]

Check out my top 5 books on Islamic finance in this video kzbin.info/www/bejne/nXWxc5xomaZ0rLcsi=9RgEvmMIFxDZPvZc

[@opportunitiesatyourstepwec8974]

Can't believe over 1k folks watched this before me...😭😭😭

[@TheKhalipha]

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

[@AlmirColan]

It should be structured as investment

[@kunu112]

Ustaz ❤❤❤ please explain(identify) about infinity powers business in Africa is it halal or haram?

[@AlmirColan]

I don’t know what you mean by that

[@kunu112]

​@@AlmirColanok

[@komiljonov_ali]

Assalamu alaykum, Bus driver=>his time, his labor, like this yeah?

[@komiljonov_ali]

Also expertise

[@Debtfreemoney]

Subscribing on an audiobook Platform, e.g. Audible, where I get 1 monthly credit to buy any book for permanent use. Subject Matter: Permanent Right to that audiobook or ownership of that book. Now, Dear Ustadh, I have a question: After purchasing a book on Audible, I can still access it even after my subscription ends. However, the book remains accessible only through Audible’s platform, even if I no longer wish to use Audible but still want to keep the book. Is this type of ownership permissible, where I have such a limited right to my own book that I must continue using their platform to access it?

[@---ct5tm]

I have asked this myself, too. If I have understood the contract correctly, they lend you the books for an unlimited or unspecified amount of time. This is not uncommon for digital products. They do not want to sell it to you, so you can not sell it after reading. It also happens that they revoke the product. As far as I know, this can be problematic, because the time period must be defined when renting something.

[@AlmirColan]

Yes, you have purchased a credit point to buy a book on their platform. There is no issue with this type of arrangement. It is understood that the service is available through specific platforms and methods, and you were made aware of this from the beginning.

[@rodrigodacunha767]

Assalamou aleykoum, renting a house : subject matter is the right to use the house

[@subairabdillahi2878]

Asallamu alleykum my brother, I need to know the principles of AAFOI and their acts. THANK YOU.

[@AlmirColan]

Walaykumu salam - you can check AAOIFI standards at aaoifi.com/e-standards/?lang=en

[@Wheretworivermeets]

💕💕

[@nadz786786786]

With regard to working for an investment bank, and day trading their money, is that permissable?

[@atsukitokunaga]

I hold thousands of XRP, but I'm feeling stuck! What’s the best way to turn a profit in the market?s

[@MeMyselfAndI33]

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?

[@AlmirColan]

You focus on what is between you and the bank - this is minimum level.

[@WS-mo3ql]

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.

[@AlmirColan]

Soon we will talk about it in one of the episodes of Islamic finance 101 course

[@amirahsemman]

Is commision agreement halal? I mean my our commision agent would like to increase the banks capital base through increasing deposit, new account opening, stalling equity share etc.... Get commision payment in return.

[@Salim_gmb]

Swap free funded account Haram or halal? Xauusd intraday trading Haram or halal Please reply

[@Diyar786]

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]

Walaykumu salam - why not?

[@Diyar786]

@@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

[@nailachou1174]

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?

[@AlmirColan]

Yes for right to use property. Lessor is still the owner and all responsibilities related to ownership are his.

[@nailachou1174]

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? The property is a house conversion split into separate units and consists of a headlease on ground floor and first floor and another ground floor lease subject to the ground floor headlease comprising of whole of ground floor. There is also an insurance contract/policy involved which was planted in the auctioneer legal pack at the time of acquisition. The buyers contract with auctioneer is for the acquisition of the whole building although only part of the ground floor unit was registered at Land Registry under the buyer’s title.

[@Wheretworivermeets]

❤❤❤

[@lootuber]

Can you direct me to the shirt you are wearing.

[@evangelineyuzon4733]

Lease a space for a used car dealership Subject: Space to park used cars for sale

[@AlmirColan]

@@evangelineyuzon4733 yes, that is the core purpose of the agreement

[@harirf]

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.

[@nasreenakhtar8521]

Asalamualaikum are the certs free?

[@AlmirColan]

You need to register for Muslim Money Matters membership in order to get it.

[@Salim_gmb]

Swap free funded account Haram or halal? Spot Xauusd intraday trading online without leverage and not selling Haram or halal Please reply

[@Obsa-p3b]

Wood curving service => Usufruct

[@AlmirColan]

More specifically it would be that service of carving wood

[@sanjaromonov-y4p]

Assalom alaykum. Selling a book. subject matter is book

[@bogdanditu11]

Wedding: the right to live together

[@AlmirColan]

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

[@bashirrahmah]

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 🤷

[@AlmirColan]

Yes, delivery of software application

[@AzeezOlaShoderu]

Language courses (service expertise)

[@ahmedabdi319]

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.

[@Lord_Escanor_Sama]

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.

[@tempacct5812]

@@Lord_Escanor_Samacan you name any legit ones?

[@tempacct5812]

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

[@noorlu5209]

Give us alternative to fiat currencies (100% haram) and we’ll then talk about Islamic finance ..

[@Wheretworivermeets]

❤❤❤