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The Knowledge of Halaal and Haraam with respect to one’s income is a matter of grave importance, highly emphasized in our Deen. The Prophet ﷺ stated that eating from haraam earnings is one of the things that prevent du‘aa’s and righteous deeds from being accepted. [vc_row][vc_column][vc_row_inner css=”.vc_custom_1609234907098{margin-top: 0px !important;margin-bottom: 0px !important;border-top-width: 0px !important;border-bottom-width: 0px !important;padding-top: […]

Usmani & Co in collaboration with Meezan Bank and IBA-CEIF, is hosting a Webinar LIVE on Zoom and Facebook on Thursday, December 24, 2020, at 4:00 P.M. (PST) on the Importance of Shariah-compliant investment through Meezan Roshan Digital Account and Islamic Naya Pakistan Certificates. Usmani & Co. is a globally well-reputed Advisory Firm, committed to […]

The successful issuance of K-Electric Sukuk back in 2015 led to another effective Sukuk issuance by K-electric in 2020. The Diminishing Musharakah Sukuk in 2015 was jointly arranged by Meezan Bank Limited and Habib Bank Limited and was awarded a rating of AA+ by JCR-VIS and A+ by Islamic International Rating Agency (Bahrain). It was […]

In Salam, the seller undertakes to supply specific goods to the buyer at a future date in exchange for an advanced price fully paid at the spot. The payment is at the spot but the supply of purchased goods is deferred. Purpose of use: This mode of financing can be used by modern banks and […]

Hadiths e-Qudsi ”Allah Subhan-o-TaIIah has declared that He will become a partner in the business between two Mushariks until they indulge in cheating or breach of trust (Khayanah).” In another Hadiths-e-Qudsi, it is stated: “Allah’s hand is with both the partners unless any one of them indulges in cheating and when any one of them […]

The concept of Diminishing lsharakah Another form of Musharakah, developed in the near past, is the ’Diminishing Musharakah’. According to this concept, a financier and his client participate either in the joint ownership of a property or equipment or in a joint commercial enterprise. The share of the financier is further divided into a number […]

The term khiyar refers to an option or right of tic buyer & seller to rescind a contract of sale. There are five Khiyars in a contract which are as follows: Khiyar-e-Shart (Optional condition) At the time of sale, the buyer or seller can put a condition that either party has an option to rescind […]

Sale (Bai) is commonly defined in Shari’ah as “the exchange of a thing of value by another thing of value with mutual consent”, For example, “the sale of a commodity in exchange for cash”. Valid Sale (Bai Sahih) A sale becomes valid if the following elements are present along with all other necessary conditions: Contract […]

A valid Sale has four essential elements Contract of Transaction (Aqd) 1.1 Offer & acceptance (Ijab-o-Qobool) The term “Offer” means that one person proposes to either sell his commodity to another person or buy from him and “Acceptance” means that the person who has been offered gives his approval of the proposal. Offer and acceptance […]