Sayyiduna Umar ibn al-Khattab said, "No one may trade in our markets unless they have learned their fiqh, for otherwise they will eat unlawfully interest (riba) whether they like it or not." During the course of each week, we engage in countless monetary transactions, both simple and complex. We may make decisions on how to invest our money, or perhaps lease property, rent a car, or hire new employees. The above quote from Sayyiduna Umar illustrates the great importance of knowing the rulings related to all of these actions, so that we don’t unwittingly go against the commands of Allah and contravene the wisdom of the Sunna.
Allah and His Messenger, peace and blessings be upon him, have emphasized that making one’s earnings and transactions permitted is a religious duty as important as prayer and fasting. Introduction to Islamic Finance covers the fundamental rulings and concepts related to your personal commercial transactions and money matters in a clear and practical manner.
The focus of the course is on practical application, in a manner that is clear and in line with the rulings of leading contemporary Islamic scholars on contemporary issues. Common issues many wonder about will be covered, such as: paying zakat on earnings and investments; making halal contracts; ensuring your work and dealings are halal; making halal investments; and bringing excellence into your work and dealings through following the Sunna of the Prophet, peace and blessings be upon him.
While this course covers the fiqh of money matters according to the Hanafi school of law, this course is highly recommended for students of all madhabs. In these modern times, contemporary Hanafi scholars are ahead of the other schools in dealing with this topic because they have comprehensively tackled modern financial dealings in the light of their school. Thus, leading contemporary Shafi’i scholars recommend following the Hanafi school when it comes to monetary dealings. SunniPath Academy will not be offering a corresponding course for other schools and therefore encourages students of not only the Hanafi school, but also the Shafi’i, Maliki, and Hanbali schools to take this course.
By the end of this course, you will insha’Allah understand how to make your day-to-day monetary transactions and dealings, as well as their your and long-term financial investments, halal. You will learn what you need to know in order to discharge your religious obligations related to money, transactions, and finance. You will also gain understanding of the legal reasoning and methodology underlying legal rulings, and you will strengthen your understanding of the details and nuances of Islamic law. In addition, you will gain an appreciation of the spirit and proper manners of monetary dealings—so that you can follow the way of excellence shown to us by the Messenger of Allah, peace and blessings be upon him.