This is a Level Two course in the Islamic Studies Curriculum. It serves to provide a proper understanding of the Islamic rulings of trade and transactions.
Sound financial transactions are a key to cultivating concern and God-consciousness (taqwa) in our lives. Imam Muhammad ibn al-Hasan was once asked, “Why haven’t you written anything on asceticism (zuhd)?” He replied, “I have written on transactions.” Knowing the rulings of transactions allows one to be more God-conscious through mindful financial dealings that are valid, sound, proper, and beneficial.
In this course, Shaykh Faraz Rabbani covers the chapters on financial transactions (fiqh al-mu`amalat) from Imam Qudur’s Mukhtasar. He relies on the great classical commentaries—including Maydani’s Lubab—and major reference works of the Hanafi School.
Students will learn the legal rulings related to contracts; the sales contract; permissible and impermissible conditions in contracts, the elements of sound and unsound transactions, and other issues related to commercial transactions. These include the prohibitions of riba (usury) and deceptive uncertainty (gharar), how to secure contracts through collateral and guarantors, types of partnerships and companies, contracts of hire and leasing, types of financing, and more.
This course is fundamental to students of knowledge completing the Islamic Studies Curriculum. A previous study of Islamic law (fiqh) is recommended, but not a requirement.
- Teacher: Shaykh Faraz Rabbani
Imam Quduri’s full primer (matn) in Islamic law is so famous that it is simply referred to as “The Book” (al-Kitab).
Quduri’s Mukhtasar is one of the four core primers (mutun) of the Hanafi school. For over a thousand years, it has been the starting point of a full study of Hanafi fiqh. This is because of the text’s reliability in transmitting the Hanafi school, its clarity, its comprehensiveness in dealing with the core issues of each chapter, and its proven blessedness (baraka).
- This course is for teenagers and adults.
- It is particularly beneficial for students of Islamic law.
- It is a Level Two course. Students are encouraged to have completed Level One of the Islamic Studies Curriculum first—or at least the Level One fiqh courses.
- This course can also be taken by anyone interested in learning more about the rulings of commercial law.
- Understand the core rulings related to trade and transactions in the Hanafi school.
- Appreciate the wisdom and purpose of these legal rulings.
- Develop a basic understanding of legal reasoning.
- Understand the practical implementation of Divine Guidance concerning transactions