The Nobel Peace Prize: Nobel Jews

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Dear Reader,
A total of nearly 700 individuals and 20 organizations have been Nobel recipients, including two who refused the prize (Leo Tolstoy in 1902 and Jean-Paul Sartre in [...]

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Lottery E-Mail and House Mail Scams

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Dear Reader,
As a part of the learning about proper business ethics in Islam it is important to also learn about scamming and scammers. Let’s first discuss..
Lottery E-Mail & House Mail Scams
Watch out when you find an email that says something like this . . .
. . “I found your name and email on the Internet [...]

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Money Monday: Islaamic Banking

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Dear Reader,
Islamic banking refers to a system of banking activities that is consistent with the Sharee’ah (Islamic law) and guided by Islamic economics. Thus, banking procedures including payment of Ribaa (usury or interest) is Haraam (Islamically prohibited). Islamic law also prohibits trading in financial risk (which is seen as a form of gambling), investing in [...]

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Mounting Concerns Over Electronic Waste

 

Bismillaah (In The Name of Allaah)
Dear Reader,

Electronics are being replaced every day with faster and smaller devices, and yet few are recycled after these products become obsolete. As a result, mountains of electronic waste are piling up in landfills across Canada.
Of even greater concern is that most electronic equipment contains toxic substances such as lead, [...]

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What Is The Amero?

Bismillaah (In The Name of Allaah)
Dear Reader,
Conspiracy theorists are worried that the central banks of the world are trying to unite the currencies of Canada, USA, and Mexico to form the Amero.
These people propose that the secret rulers of the world (aka Illuminati), the very same families who own majority stakes of the Federal Reserve [...]

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Establishing Islamic Banks

Bismillaah (In The Name of Allaah)
Dear Reader,
Establishing Islamic banks as an alternative to Riba-based banks is undoubtedly an important issue.
 
This can be realized in two ways:

Urging Muslims to support existing Islamic banks so that they can compete with and challenge Riba-based banks, while also attempting to remove the reasons preventing people from dealing with these [...]

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Non Muslims Snap Up Islamic Compliant Bank Accounts

Bismillaah (In The Name of Allaah)
Dear Reader,
“(Bank) Branches are reporting interest from all communities,” says Paul Sherrin, head of Islamic Finance at Lloyds TSB, which allong with HSBC and Islamic Bank of Britain offers Sharia compliant accounts.
 

Perhaps, though, if I had lots of money I would look at it differently and want interest

Emma [...]

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Zakaah Awareness & Obligations For Businesses

Bismillaah (In The Name of Allaah)
Dear Reader,
A great way to find increase in rizq (sustenance) is to increase your charity and pay the zakat, that Allaah (swt) has made obligatory on all Muslims.  Giving zakat (Support of the Needy).  This is the third most important pillar in the five pillars of Islam.  Zakat means ‘purification’ [...]

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Six Conditions For Valid Business Transactions

Bismillaah (In The Name of Allaah)
 

 
Dear Reader,
 
Bay’, the Arabic word used for business transactions, comes from the Arabic word for an outstretched arm (al-baa’u), since each of the participants in the sale extends his hand to give and take. Thus the linguistic meaning of the word bay’ is: “To receive something and to give [...]

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The Seriousness of Debt

Bismillaah (In The Name of Allaah)

Dear Reader,
Thinking of borrowing money? Have a hard time not engaging in gheebah (backbiting, slander) Maybe, you should think again.
On the seriousness of being in debt:
The fuqaha’ (Islamic scholars) define dayn (debt) as an obligation to be fulfilled, as it says in al-Mawsoo’ah al-Fiqhiyyah (21/102). The linguistic meaning of the [...]

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