Law

God’s Attributes: Between Mercy and Wrath – Suicide in Islamic Thought – Part 02

God’s Attributes: Between Mercy and Wrath Classical discussions on the topic of suicide center not just on the act of suicide, but how this act is related to the divine attributes of mercy, punishment, and forgiveness. The texts related to these attributes are multifaceted and their interpretations must be contextualized and tempered through a holistic …

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Do I pay Zakat on savings only or on my checking account too?

Question: Do I pay Zakat on my Savings only or on my checking account too? Answer: Zakat is due on ANY surplus wealth. It must be more than the Nisab and is in your possession after one year passes. This includes: Savings accounts, checking accounts, actively invested shares or Mutual Funds. It also includes cash …

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Insurance Regulation

Classically, scholars categorized contracts as being from one of three types. Commutative exchange (Mu’awaDat معاوضات) – Involving the voluntary exchange of good, services, and/or both for the purpose of trade. Includes: cash sales, bartering, and currency exchange. Charitable exchange (Tabaru’at تبرعات) – Involving the voluntary not-for-profit exchange of good, services, and/or both out of the …

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