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Level: Two

Instructor: Shaykh Faraz Rabbani

Course Overview

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.

About the Text

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).

About the Author

Imam Abu al-Husayn Ahmad ibn Muhammad al-Quduri (362-428 AH) was born in Baghdad. He was of the foremost scholars of the Hanafi school and played a pivotal role in the transmission of Hanafi fiqh.

His work Mukhtasar al-Quduri is the first of the four main primers (mutun) of the school. Another of his important works was al-Tajrid, a comprehensive, 10-volume work in legal reasoning and comparative fiqh.

He was also a noted scholar of hadith, and the great hadith master, Khatib al-Baghdadi took hadith from him.

Imam Quduri was also noted for his deep piety and devotion, his renunciation (zuhd), and his good character. These are keys for Allah blessing one’s efforts, as the lasting impact of Imam Quduri’s scholarship shows.

Who is this course for?

• 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.

Learning Outcomes

• 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.

Course Outline

Lesson 01: Introduction

Lesson 02: The Book of Trade

Lesson 03: Options of Cancellation

Lesson 04: Impermissible Transactions

Lesson 05: Cancellation of a Sale, the Cost-Plus Sale, and the At-Par Sale

Lesson 06: Interest

Lesson 07: Forward Sales

Lesson 08: Currency Exchange and Collateral

Lesson 09: Prevention from Transacting

Lesson 10: Admissions

Lesson 11: Hires

Lesson 12: Right of Preemption

Lesson 13: Partnerships

Lesson 14: Working Partnerships

Lesson 15: Agency

Lesson 16: Guarantor

Lesson 17: Reconciliation

Lesson 18: Gifts

Lesson 19: Endowments

Lesson 20: Misappropriation

Lesson 21: Deposits

Lesson 22: The Foundling and Returning Lost Items

Lesson 23: Hermaphrodites, Missing Person, and Runaway Slaves

Lesson 24: The Authorized Slave, Sharecropping, and Irrigation Sharecropping

About the instructors:

Shaykh Faraz Rabbani spent ten years studying with some of the leading scholars of recent times, first in Damascus, and then in Amman, Jordan. His teachers include the foremost theologian of recent times in Damascus, the late Shaykh Adib al-Kallas (may Allah have mercy on him), as well as his student Shaykh Hassan al-Hindi, one of the leading Hanafi fuqaha of the present age.

He returned to Canada in 2007, where he founded SeekersGuidance in order to meet the urgent need to spread Islamic knowledge–both online and on the ground–in a reliable, relevant, inspiring, and accessible manner.

He is the author of Absolute Essentials of Islam: Faith, Prayer, and the Path of Salvation According to the Hanafi School (White Thread Press, 2004.) Since 2011, Shaykh Faraz has been named one of the 500 most influential Muslims by the Royal Islamic Strategic Studies Center.

Number of Lessons: 24 Lessons
Total Duration: 67 hrs 38 mins
Category Featured: No
Display on Both categories: No
Short Intro: This is the second of four courses based on the famous primer, Mukhtasar of Imam Quduri. It serves to provide a proper understanding of the Islamic rulings of trade and transactions according to the Hanafi school.
Total Lesson: 24
Number of hours: 67
Weightage: 9
Show in catalog: Yes
What You Will Learn:

  • Distinguish between true religious knowledge that is beneficial and ostensibly religious knowledge that is not
  • Identify instances of the sins of the limbs (particularly those of the tongue)
  • Identify instances of the sins of the heart
  • Complete a regimen of protecting your tongue from sin
  • Improve your character with your teachers, relatives, friends, and strangers
  • Appreciate the spiritual value of good company

Skill Level: Beginner
Monday: No
Tuesday: No
Wednesday: No
Thursday: No
Friday: No
Saturday: No
Sunday: No
Self enrolment AUTO (Student)