Blog

20 Aug 20

Islamic Contract

We will start our discussion of the Islamic Contract with three terminologies of the Islamic Jurisprudence which are pertinent to be understood at the outset of this chapter. They are: Unilateral Promise (Wa’ da) Bilateral Promise (Muwa ’Adah or Muahaidah) Contract (Aqd) Unilateral Promise (Wa’da) It refers to a unilateral undertaking or promise extended by […]

10 Aug 20

Shared Prosperity – A catalyst for economic growth

The buzz words these days are ‘shared prosperity’, whether it is the promise of what ‘blockchain technology’ will bring in or the World’s Bank vision for a poverty less world. Shared prosperity is one in which when an economic development takes place, it is reflected in all segments of the society and is not just […]

31 Jul 20

FOOD SUPPLY TO MUSLIM COUNTRIES ON FAIR MARKET PRICES IN SHARIAH COMPLIANT MANNER-

In the name of Allah the entirely merciful the special merciful. All praise belongs to Allah who is Lord of all the Worlds. Grains, particularly wheat is one of the most important necessity for human beings. When gold and silver coins or currency did not exist in ancient times, people used to trade these though […]

31 Jul 20

کے مسائل کا حل ( Liquidity) غیر سودی اسلامی بینکوں میں سیولت

مجموعی بینکنگ ڈپازٹس میں 14فیصدحصہ غیر سودی اسلامی بینکوں ،جبکہ 86فیصد حصہ مروجہ سودی بینکوں کا ہےلیکن گذشتہ حکومتیںاپنی ضروریات کے لیے 97.65فیصد تمویل ، سودی قرض بانڈزکی شکل میں مروجہ سودی بینکوں کے ذریعے حاصل کرتی آرہی ہےاور اسلامی طریقہ تمویل سے صرف 2.35فیصد کے حد تک استفادہ کیا گیاہے۔)(Central Government Debt repot Jun […]

28 Jul 20

The Objectives of Distribution of Wealth in Islam

If we consider the injunctions of the Holy Quran, it would appear that the system for the distribution of wealth laid down by Islam envisages three objects. The Establishment of a Practicable System of Economy The first object of the distribution of wealth is that it would be the means of establishing in the world […]

24 Jul 20

Factors of Production in Islam

To better understand the factors of Production in Islam, we now compare the factors of production in other economic systems including Capitalism and Socialism. The Capitalist View In order to understand the Islamic point of view fully, it would be better to have a look at the system of the distribution of wealth that is […]

24 Jul 20

Globally Practiced Takaful Models

There are 45 conventional insurance companies and 28 of these have window takaful operations. There are only 5 full- fledged takaful operators in Pakistan.

23 Jul 20

Islamic Economic System

The Islamic Economic system is a system which is in conformity with the rules of Shariah. Sharia h can be explained as a “Pathway to be followed ” and can Further, be explained as a set of divine injunctions and laws that regulates every aspect of a human being in their individual and collective lives. […]

14 Jul 20

Global events and album

The Usmani & Co team including the honorable Mufti Taqi Usmani and Dr. Imran Ashraf Usmani visit various global Islamic & Shariah conferences to shed light on the principles of Islamic Finance and other significant subjects benefitting thousands of Muslims worldwide. Usmani & Co is one of the leading shariah advisory firms globally helping hundreds […]

08 Jul 20

Covid-19: A High Time To Consider Takaful

The sudden outbreak of COVID-19 has left all of us bewildered, and just in a span of a few months over 1.8 million people in Pakistan lost their jobs because of the lockdown. Such high and unanticipated unemployment is followed by disastrous impacts on the lives of the affected individuals and families. A typical family […]