Channel: Hacene Chebbani
Interest Based Mortgages for buying homes in Western Societies
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We live La Nina Salatu, Salam ala
Sayyidina. Muhammad said he was suffering. Here's my
last time we had some problems with our machine. So the halaqa was not recorded. And there are many people who are following this program online. So I would like to summarize what they said before. And then we continue inshallah with the third or the fourth premise.
And I would like to start with the same question I started with last time when some sisters saying the question about a saving program, those savings program saving program in which five people pull together, some of people, it doesn't have to be five, it could be 10, it could be 15 people, we pull some of money. And every month one of the brothers or the sisters will take the whole collection for collection to to spend it. And we said, this can be done in three ways. The first way is a regular when you do it in through a regular round without any stipulated conditions. So you don't put any conditions you just get together as 10 people, 15 people, five people. And then every month, you
collect the same amount of money. And every month, one of the brothers with the sisters will take this amount. So this is Helen, there is nothing wrong with it. The second way of doing this is one, use two people stipulate a condition, you say okay, no one is allowed to leave before this around is completed. And this is helpful if you do it this way. It's okay. They never they don't prefer this condition. They said it's better not to do it. But it's okay. I mean, if you do it, it's helpful. You can a Muslim Allah, Allah shirota him. And Muslims are bound by their,
you know, stipulated conditions, when we when we, you know, deal with business transactions. The third form of doing this kind of transaction is when you tell people that you are not allowed to participate unless you promise that you're going to participate in a second round or third round, then it becomes harder.
Because in the first round, you'll be
you know, lending people money, and then you'll be very back. You know, people will be paying you back month after month, those who took the money in the beginning. But if you make it a condition, this is a form of Riba, it's called a slip money wisely folk, can you lend me and I will lead you, I'm not going to give you money until you promise that you lend me money. So this is a form of rebar. So if you do it with this condition that you are not allowed to participate, unless you promise that you participate in the second round, third round, then it becomes harder. But if you do a second round without any condition, like you finish you are over with the first round. And then
within a month or so or immediately say okay, let's do another round. This is hilarious, because you didn't make it a condition. Remember in when we talked about Reba personalized, lm borrowed something from someone an animal a camel, and when it was time of repayment, he gave him something better. And that was Hillel is not a river. Why is nothing but it's not a form of Riba, because it was not agreed upon it was not stipulated in the contract. The man did not ask for these kinds of repayment. It was a voluntary payment from Rasulullah sallallahu alayhi wa sallam, and it is hella, like if someone gives you something as a loan. And then at the end of the loan, we'll give him a
gift without him asking for it.
And this is Helen, this is not
I have to summarize now, what we said about the second premise or the second argument. And before that, I told you last time, the European Council for fatwa and research we made they had the 16th session in Turkey in Istanbul, and declared in this session, that this classification of land into three types is not valid is not relevant to our times.
We said the Muslims live in Europe and North America and they are citizens of this country. And there is no need for this kind of classification. And this classification was only valid during the early days of Islam, you know, classifying land into Dar Al Islam, the oral herb underlied, the land of Islam, the land and foreign land of treaty and peace.
And as I said, This decision was made in 2006, July 2006. So it is actually they are revoking what they revoked what the first argument because they are
First arguments in the federal law that allowed Muslims to buy houses through this kind of mortgages was based on the opinion that is famous in the Hanafi madhhab. That Muslims are allowed to deal through invalid transactions in the west or not in the worst, I would say, a non Muslim lens in general.
So when we came together in 2006, and said this classification is not valid anymore, this will actually reject or destroy the first argument of their first fatwa that he made in 1999. about buying homes through these interest base mortgages.
the same organization European Council for federal research, the same organization, and I have it here, I like a printed out this decision of 2006 from their website
by now dealing with the second premise, treating needs like necessities and allowing the forbidden so they said in their declaration, the method currently used to buy homes via mortgages from banks is fundamentally Riba
and it is not permissible for a Muslim to use if he can find Sharia compliant alternatives. So, we are not allowed to say that these scholars have made the Riba halal in the West, this is not right. They are saying it is fundamentally Riba it is essentially prohibited. But we made a federal for those who cannot find Islamic alternative for other alternatives who are not willing to be patient, or they're not willing to pay the rent. So they may differ for these people. So, in these two conferences, these scholars have the shift set which is something positive. We have done well to say that this transaction is essentially prohibited and it is a form of rebar.
Because there are other people who say what rebar is haram by what is river
Riba it's Haram. It's prohibited, but what is river and here they are actually, it is, it is a hidden form, it is a hidden accusation, they are accusing whom
the Prophet sallallahu Sallam that he did not explain what is Riba to the Ummah when they say what is the river? So he passed away without explaining to the Ummah what is what is Riba? What was the rebirth that was haram that was made Hara and his time.
So now, the the second comment is about the hanafy position. We talked about it before, we're not going to say anything about it here.
But let's talk a little bit about neither I'm trying to summarize what we said before, we said need haza is whatever leaves the life of a person extremely difficult. If it is not fulfilled, imagine here in Calgary, who say it's haram to own cars, because insurance is haram then your life will be very difficult, extremely difficult right?
fail. So, the owner said the concept of need cannot be used unless some conditions are met. The concept of need cannot be used unless some conditions and we mentioned three conditions. The first condition is they said the consideration of this concept does not nullify the underlying ruling. That means if we say 10 local weight is is a need. And it has to be through a Hillel method.
owning a house is in need and it has to be done through a Heller method. Now if we come here, we say this concept we use this concept of need. And we nullify or destroy the underlying ruling that you have to acquire this house through a halal way, then we're not using the hazard the need in the right way. The second, the concept of hazard. The second condition, they said the need should be present not expected.
And it should be something that you're dealing with you're facing right now. It's not something that you expect in the future. And I gave you an example someone you know, would say that I'm buying a home to to accommodate the bigger family that I'm planning to have in the future is just getting married now, or having one child and said I'm buying a house now
to accommodate the bigger family that they will have in the future. Okay. So this is not an excuse. You cannot use the concept of need here in this situation because it's not something present in our dealing with or not facing. It is something that might happen in the future.
The third condition they said using these kinds of concessions for need should not go against the objectives of Sharia.
And Muslims are not allowed to abuse this concept of using concessions. For example, when someone is traveling is allowed to shorten his prayer, he's allowed to break the fast, he's allowed to do a few things to make a mask on your socks or rather socks for three days instead of for one day. So the owner Murphy says a Muslim cannot create this situation a situation where he can benefit from this concession You are not allowed Ramadan to travel all purpose
for the with the intention of breaking the fast you cannot do that. But if you are traveling, you need to travel you're planning to travel anyway, then you can benefit from these concessions will love to Allah Allah. So you are not supposed to devise ways in order to benefit from these concessions. When things happen, then you benefit from the rocks of Allah subhanho wa Taala use the concession the concept of concession. And we talked about some main differences between necessities and needs. adaro rot will huget necessities the rot needs huget. And we said when it comes to necessity, whatever was made purse permissible through necessity is a temporary allowance, which
ends with the disappearance of these necessity. Yeah, if someone is traveling in the desert, and he couldn't find food he's about to die. And he found some pork is it's hard for him to eat at the time. And this necessity or this allowance, this Sherry arrowleaf will disappear with this appearance of this necessity. And it is only limited to that person who was under the pressure of necessity is now to share a ruling that he's given to everyone. This is the nature of necessity. But he said rulings that are based on need, we do not revoke any text. This is what is preserved in our in books. We do not revoke any tax that means they don't go against a Sherry a text whether it is an
ayah from the Quran or Hadith from a soulless SLM, but those rules that were built on meet in Sharia, if you go study books affair, these are both some four key principles, there is a difference here. If you are following with me, we are against some key s some key principles. And I'll give you an examples. So here these those rulings that are based on need, they do not oppose core and they do not go against the divine text from the Quran or the pseudonym. But when it comes to necessity, you are allowed to violate those major sins because it's necessity you are going to die. You're allowed here to eat pork or to drink alcohol or to deal with Riba sometimes to survive.
You are violating a major sin. But why because you're dealing with a necessity. This is what is preserved. In fact, you look at needs has yet fulfillment of needs is always associated with some other rulings that are that go against some key principles. They don't go against core and also give you the example of jianna. We talked about jala. And about ijarah. We have a principle that says that a business transaction, when we are doing a business transaction, the subject matter of the contract, the subject of the contract has to be well defined, you have to know how much you're paying, and what is the counter value, what are you getting for your payment, you are getting a car,
for example, 2000 for Dodge, caravan, and the mileage 160 or 150. You have to look at it you examine the car, you know what you are getting right it is well defined, and well determined. You see it you have tried it, you drove the car, everything is fine, you're happy, right? And you know how much you're paying. This is a general principle within the chapter of business transaction. But these kind of rules are these kinds of, you know, contracts like jianna, we said, Allah is offering a reward to someone who is able or willing to achieve something or do something for you. A task completes a task for you. You lost your car, and he said whoever brings my car for me.
I'll give him $1,000. This is called the jianna. In fact, and this is Helen, this is Helen halaal. It's controversial some scholars that is not allowed because it goes against the principle
of determining the subject of contract, whether it was held held. So it is an exception to the rule. What is the argument? What is the justification of permissibility? Here is the fulfillment of needs. People need this kind of rulings, we need the need this kind of Sharia rulings, otherwise their life will be very difficult is Yara. Let's say Mother, Sherry says ijarah is Hara. You cannot rent? Because we don't we cannot. We it's very difficult to know.
Exactly. You know, how much how many days you'll be using the apartment you rent? Or the way you're going to use your rental car, for example, right? Car Rental?
How much you're going to how many kilometers you're going to drive the car? Or what what kind of what type of driving? Or what type of driver? You are? Are you a nice good driver? Are you a bad driver? Are you young Are you you know, there are many, many details that are that could be different from one person to another person. And we said last time as an if we think about ijarah.
Two families could rent the same. The apartment in the same building three bedrooms and three bedrooms, but this family has only one child and the other family have five children. So are these two families going to use this these two apartments in the same way? They are not. Because here we have seven people living in this apartment. Here we have only three people living in this apartment. So the tear and wear will be different right? The usage will be different, but they are paying the same amount. So someone could say no, this is not fair. It has the way you use it has to be well determined. There is no way to determine it.
So the Sherry says yes, it goes against these four key principles against LTS the right key as the right analogy, but it is Helen because people need this kind of
contracts. So, you got the point. Now, this is what is well established in Sharia.
That necessity is always associated with sins and major sins cannot violate a major sin something that is well established well known that is it is haram in the deen you cannot violate this you know Sherry alowing unless you are dealing with a necessity, but needs can be fulfilled through contracts that were made hallette in the Sharia, even though they go against the right analogy or the song 50 principles. So, this point is clear. inshallah.
By the third premise, they said whatever is prohibited as a means towards evil is allowed out of need Maha Rima live variable as he said delivery it will be held in Azure. This is their argument, third argument, Marina said delivery it will be Helen has whatever is prohibited as a means towards evil.
May might be you know, permissible or it could be allowed out of need if there is a need. So, we have two types of forbidden things if you want to say things that were essentially forbidden interior, things were forbidden as a means towards evil or they were forbidden to block evil to block these major sins to happen. like think about method and economical mula Zina illegal relationship with with a when a woman and there are other things that were made illegal and Haram, because they might lead to this major sin. So think about these things and the major sin by itself. So here
in this in this factory principle, they use this factory principle they said whatever is prohibited as a means towards evil may be allowed of out of need, while whatever is or was fundamentally essentially prohibited, can only be permitted out of necessity. So the use this fifth principle, now and the argument is, is constructed in the following way, this is how we constructed the argument. And by the way, and I want you to pay attention to this argument. There are people in our community who believe in this. And I was told there is there is an ethnic I'm not going to name anyone, but there is a group of people in our community, they belong to a certain community. We believe in this.
And I'll tell you this argument they said what is essentially prohibited is the devouring of river. Consuming river is their argument. I'm not saying this is the right thing. This is their argument. They said what is
Essentially prohibited is consuming river or devouring river
and that that is what is only permitted out of necessity. But those things that lead to that such as paying
the river or writing the contract, or witnessing the contract are prohibited as a means towards evil. So they are permitted out of need, you don't need a necessity to make those things permissible if you are dealing with a need and we say buying a home is a need right?
We said owning ownership of house is a need but having shelter is a necessity. You know the difference between the two right? We talked about it having a shelter reanimate and someone who doesn't have a shelter, he will be staying with his family were
in the street, under the bridge.
Bridge is not a shelter.
It's like to say and it's haram to have a shelter Unless Unless you don't find the bridge.
No is not. If you are saying under the bridge, that means you're saying in the street.
So having a shelter is a necessity but owning a house is a need is not a necessity to become the owner to become the landlord you own your house is a need Allah Allah created us this way we like to have our own own properties and everything. So this is a need the human need, but having a shelter is a necessity you cannot stay in the street okay with your family
time. So, this is what is what they are saying the saying devouring rebirth assuming the man who is taking river here in this transaction when we buy homes who is taking the river? The bank the bank is taking river right who is paying the river The Muslim client is paying the river Okay, we don't know who is writing who is witnessing the contract. We don't care about that. We care about these two parties here. The one who is devouring river or consuming river or taking river is the bank because he is the bank is the bank is taking the increase the interest and the one who is paying is the Muslim client here.
Five now let's go to the what is preserved in the books of our Sharia. Which matters are essentially prohibited. When we talk about Riba and which are prohibited as a means towards evil. The owner may decide what is preserved in the books effect is that the rebel form we talked about it before rebel fuddle which is the rebirth of excess or surplus or increase was the only type of Riba that was prohibited as a means towards evil.
That it without thinking about any delay, without thinking about any timing if you are doing your transaction method and exchanging $100 with 110 who would do that? But this is something that was justified at the time for a solar cell and maybe for some for some reasons, like Rasulullah Salim said in the Hadith a Muslim Mr. Mohammed do not sell one dinar for two dinars no one there have for two Durham's for I feel that usually will be for you.
You tell me who would do this who would give one dinar for two dinars? Now these coins at the time for solace I sell them were not minted in the same way.
were minted in different ways. Yeah, the monetary the monetary system at that time was not highly regulated. Like right now. Now the American dollar is the same everywhere right except in Iran
But if you are in North America and Europe most likely the American dollar is the same. So it's foolish to exchange $2 for one American dollar right to American dollars for one American dollar or two Canadian dollars for one Canadian dollar at the time of rationalization and this was justified because they were meant it in different ways maybe with different weights sometimes different qualities. So it makes sense if someone is coming to someone with one dinner good quality say Hey, I'll give you two dinars of mine and give me your dinner.
So as long as I sell me say for I feel that usually will be for you. I am worried he didn't say this is strictly Hara. He says they're worried that you might end up dealing with Riba and what everybody's talking about is even se arriba Do you very well loans that was mentioned in the Quran because the Rebbe business transactions was not mentioned was not mentioned in this in the Quran was mentioned in the sooner you know, exchanging one kilograms per kilo
With two kilos of data so last as we said don't do it this is River. This was not mentioned in the Quran and this is rebel
and it was prohibited as a means to block the greater evil which is the river of delay ribbon nesea or river loans. We both laws whether you call it three but do you know ribbon a CI is the same. There are some differences but rule Emma sometimes we use ribbon this year sometimes we said Reba Do you want or the quality rebel Jia helia that was mentioned in the Quran. And that that was the type of Riba that was prevalent at the time of Rasulullah sallallahu alayhi wa sallam.
So the owner did not distinguish between who is paying and who is consuming. He didn't say paying
is a means towards blocking them the the evil and devouring river is the major or the greater sin. Yes, Allah subhanaw taala said de la Vina Karuna Reba
como de la cama polarion harbottle shaper wilhelmus he was talking about those who devour Riba because they are Yes, they are the ones who are actually charging Yes, that's right. But also La Silla many different Hadeeth we'll talk about it, he said they are all the same, and we'll talk about it at the end inshallah.
time immemorial Hyeme we're talking about this, this is another proof just to confirm what they said. He said the Rebbe is of two types explicit and hidden. Explicit, he was talking about ribbon nesea and the Riba of loans and that might include an increase it will include an increase but there is a delay it's an associated with a delay. MSA you pay me after one month, I'm giving you $100 after one month, you don't give me $100 back it gives me 110 there is an increase but it was called ribbon last year because of the delay giving him one month if you're not able to pay after one month, I will charge you a penalty and then instead of paying 110 you pay me 115 so this is driven a
car or river of loans for long island.
So the owner Maddy said there is an agreement that rebo of loans which is our the subject of this transaction, you know interest based mortgages, research, there is an agreement that live river flows or nesea is fundamentally prohibited and it is the one the Quranic threat of punishment came for.
And the one the war from Allah and His Messenger was announced they are talking about this river
Okay, whether you are paying it off or you are devouring, it is the same because the learner did not distinguish and the sheriff he mentioned what the decision that was made in 1385.
So this decision was clear about, you know, these methods of distinguishing between lending and devouring or borrowing and lending. And this conference, the conference of the Islamic research, Academy measurement and growth Lamia that took place in Egypt in 1385 in the hijiri calendar.
Scholars, Sherry scholars, and some of them I don't have the names but they said they were highly respected scholars of that time in the Muslim world came together from 35 Islamic country
35 Islamic states and all of them said
they said that lending with Riba This is their decision lending with Riba is prohibited and permitted neither by need nor necessity. It is not permitted at all landing, because there is no necessity to give someone if someone is in need, whether he's a Muslim, or a non Muslim or an animal, you give him something to eat or help him for the sake of Allah subhanho wa Taala. So you don't have a justification to lend him with rebar. So he said there is no justification for someone to land with rebar.
This is a landing, talking about giving no charging rebar giving a loan to someone and charging him something extra increase. And we said borrowing which is different borrowing when you borrow asked for a loan, and you'd be paying here like the case with Muslim clients who buy these houses through, you know these kinds of mortgages, reset borrowing with Riba a similarity prohibited and it sin is not lifted unless necessity calls for it.
And it is only Helen only permissible in the case of a necessity.
So we didn't mention need need was not mentioned at all here. And we know what is a necessity when someone does not have a shelter. As I said before, it could be a necessity when someone lives with his family, in a cemetery, like in some Muslim countries,
or it could be a high in extreme need that is close to a necessity whatsoever lives in one room, in some countries. So Muslim countries where people live in capital cities that are extremely crowded. Some families live in one room, there are seven people in one family, and in one room, they have the kitchen and they have the washroom and they have everything this is not a normal life.
This could be a case of necessity these these people, they have to go and consult some Sharia scholars and then ask for a federal they might have no, they might benefit from a concession.
Other than that, we don't know any other necessity if you know of any other necessity you told me about. So there are a number here, these rouda who came from 35 Muslim countries. We met in Egypt in 1385 in the history calendar, which is 50 years ago, and we made the decision based on the IRS and the Hadeeth and the fatalities of the odema. And didn't you mention me that all they said borrowing with Viva is approved is prohibited is a sin and it is only permitted permissible at a time or in case of necessity, will love to Allah.
So this is what was established by the Islamic research Academy over 50 years. Now, the second comment regarding this premise here
is that the consumer and payer of Riba are equally cursed. In the hadith of Rasulullah sallallahu alayhi salam, anyone who says no, there is a difference between them, we tell him this is what our supervisor Selim said. Hadith in Sahih, Muslim the Messenger of Allah sallallahu alayhi wa sallam cursed, the one who devours Riba, the one who pays it and it's witness and scribe and this was transmitted by an Imam Muslim in a different heaviness a venomous Rudra the Allah and he said the Devourer of Riba it's fair it's two witnesses and its scribe are cursed upon the tongue of Mohammed Salah Maharani he was sallam. So the conclusion is with this text, it is difficult to say that the
prohibition of paying Riba is a prohibition of means towards evil. Because there are some laws SLM actually in a in this in the same Hadith, he said they are equal, they are all they are equally the same.
What Allah whom Salah in Arabic. So there is no difference between the one who is paying the one who is devouring the one who is witnessing the one who is writing the contract. So they are all the same. In this aspect, they are cursed. They are cursed. So this is something major. And when we talk about Riba we're not talking about is not a joke. I'm not talking about something light. Salas panatela salam, O Lafayette, so we have Hamdulillah, 10 minutes before, then, you have time now to make your questions. Go ahead.
Go ahead. The first one, just for the sake of argument, if we see somebody here has, I mean, isn't it in a case of necessity that needs to buy a house and you mentioned something about
necessity, then you might use the concession just as long as you deal with your necessity. And then that's it. So if someone has a big family and can't find the house, and and then let's say was a necessity, and they bought a house, through that it's a it's
a long process. So it takes about 2020 years or 15 years, and they're paying getting ready.
They deal with another question was if somebody followed this window previously and bought a house already, and then later on, when he's in the middle of the day, he found out
he decided that he was mistaken. What what is what should you do?
So the brothers, the brother, he asked two questions. We said that necessity when we deal necessity, it's when we deal with recessively we are allowed or permitted to violate sumptuary rulings for a limited period of time. That allowance is limited, is temporary, and disappeared with the disappearance of, of this necessity. I guess for someone. The example you mentioned, for example, was a big family, someone who has a big family. If someone has seven children or eight children. I don't think that the next week or the next month, you'll have only one child will unless we passed away. So the necessity will stay there in this case. Right. It will be
Therefore, a couple of years at least. So he bought his house through this way. And then he ended up paying this house hamdulillah. But I'm not saying if you have a big house, I mean, if you have a big family, then you are allowed, go ahead and do it. Now, if you feel that you are dealing with a necessity, you go and ask the scholars, the scholars that you trust people who are qualified in the field, and then you ask them, are you dealing with a necessity? Or is it harder for you to buy or not? So don't make federal for yourself? This is the first question the second question again. Somebody already bought a house. Okay. Yeah. Now he knows. So the brother is saying, you know, his
brother, both house based on this federal that was made by these scholars, including chef Yusuf qaradawi. And then he found out that it is haram. How what he, what should he do? I mean, I should leave. If he believes now it's hot on he should leave this contract and gets you to it.
He might convert it into a Sharia compliant. But the problem is that all the Sharia compliant or so called Sharia compliant contracts that are available in the market are not purely Sharia compliant.
The alternatives are not purely Sharia compliant, whether it is a diminishing musharaka the way it is done, or ijarah. loans.
Nigeria ijarah loans in Nigeria compliant and have a federal law from
from chef Dr. munzer car because there are people I just got a call from someone today, he paid the Sherry structure fee, which is it is not a down payment, they charge people Sherry a structure fee. Now 2000 2500. And then they create a trust, and they take a loan from a bank or an insurance company. And then they said you are not paying them interest. Actually the trust is paying them interest. You're paying rent to the to the trust to create a trust. So this video is available in our local website here, Muslims of Calgary.
And this factor is made by Dr. moonda path. And he's from the state. He lives in Qatar too. He is professor of Islamic finance in the Faculty of Sharia of Qatar. And he the question says I'm thinking of buying a house through Sharia compliant loan, can you please look into this genre website
ijarah canada.com and advise about how compliant it is to Sharia. So Praise be to Allah, this is the answer. He said if its contract consists of getting an interest loan from the bank,
and put it in the name of trust that it creates for you and the trust gives you an era contract. This process is a bluffing process, he meant is a misleading process, which does not change the fact that it is you who is paying the interest to the bank, and got someone here I met a brother a couple of days ago, he said it had 300,000 and the car the the price of the house was around 470,000 or 450, something like that. And he said that I needed that 150 or 140 or something. So they showed him the Sherry documents. After he signed the shehryar document he received the other documents from the financing company, giving him a loan and that he has to sign this mortgage with this financing
And he couldn't get rid of it and he had to pay in interest of you know what amount of money that isn't into. He told me about how much but I don't want to give you too much details because he's a local brother. So after and he said after I studied this contract with my wife, we decided without going back to any serious color. We felt that this is this never can be. This can never be a Sharia
compliant contract is not based on theory. It's Haram. It's clearly Haram. It's they're getting the capital from a financing company, a non Muslim financing company. And we tell people that there is nothing in Sharia that says you are not allowed to deal with non Muslims.
We are not allowed to do to do to do business with non Muslims. No one says that it's haram to do business with non Muslims. It's helpful to do business with non Muslims, who we're talking about here about an interest based contract. Whether it came from a Jew or from Christian or from a Muslim who made Hajj and praise the five daily prayers. If he's giving you an interest based contract, then it's Hara
whether they are Muslims or non Muslims. So this feature is available in our local website Muslims of Calgary and is made by Dr. Mosier cough
Hello Thailand. Unfortunately, most of the sherea
or the Islamic alternatives are not purely Islamic and not really Sharia compliant. Why? I'll tell you why, what is the root of this problem? I don't want you to feel like desperate like oh my god.
There is no way out of it.
I'll tell you the problem problem is about the greed. The investors, okay, the investors who are dealing with ijarah loans, most of them maybe are not Muslims, some of them are Muslims, but we do we deal with I mean, the contract is the same.
But the investors who are in financing that transactions are the contracts of
those companies like Aetna and anzar and all those companies who are giving diminishing moussaka contract investors and not willing to take the risk.
Our our Sharia is telling people instead of dealing with Riba instead of guarantee the capital, guarantee the law deal with pls pls Profit and Loss sharing, that means you have to share you have to be willing to share if you are partners, you've told me what our partners we have to pay together the the cost of the maintenance, the insurance, and the property tax.
So the clients here are Muslims who are buying through them, houses through them, the end up paying all these things,
the property tax, and the insurance and maintenance, but if you tell me we're partners and you own 80% in the house and I own 20% in the house, and I pay you rent for the 80% you are like any landlord who should pay their property tax, you should pay the maintenance, who should pay the insurance, you are making landlord for this 80%
that you own in the house, because I will end up owning the house at the end after 25 years. So, you are asking me to pay all these expenses from now, this is a form of
oppression even though some arona have said it is highlighted, but this is not Helen this is this is oppression. So when Muslims are
when Muslims are willing to you know to take the risk in business, when our problems will be solved.
To have our Khurana line investor is coming. He said Okay, do it the proper way I'm willing to take to bear the loss and it was my capital to be guaranteed then we'll we will solve our problems and all these Sharia contracts will be held. There is a way to do it. But it needs a lot of work. I can tell you about it now. But it needs a lot of work. A lot of work shala if something unless further give us further up, then I will talk to some Musharraf here in Canada, we'll start something there is a way to do it, and then make it Hillel and then people when they see that it's working and I think they start changing their contracts will allow to llmd make them more Sharia compliant.
But it is not available now. You have another question?
$500 right now
10 months we'll give you $500 But then again, please pay it's something I would purchase. Right now. You pay installments of 10 months $6 per month, you end up paying 600
How is this different than the
What is Hannah the brother he's saying something? If you buy something
that costs to cost you if you paid cash $500 right if you paid cash, but if you paid through installment then there is an increase ever end up paying $600 Why is this healthier? But interest based agreements are not haram but there is an increase to here an increase here and there is a time value of money. You're talking about time value of money. This is harder because this is a sale. This is not alone. The second case, Allah subhanaw taala made all types of sales halon except with the exception of some types of sale, but this is a sale. Now when you come to
A merchant, and you want to buy this from him, if he tells you, if you pay me cash, you take it for $500. But if you pay me within like the period of one year, I will increase the price, he has the right to increase the price or not.
He has every right to increase or decrease the price. It's his, it's his property now, and he's selling to you. Now this is not river, he said, If you pay me within a year, I'll sell it for $600 he's free, he wants to sell it for 600 700 it's his property. And he's giving you time. Here, he said the time value of money is not recognized in Islam except in two cases, when it is connected with the sale with
those sales that are based upon installments,
you know, payment and, and the other cases is sell them sell them on you. You pay upfront and you receive the commodity. After six months or two months or three months later on, you receive the merchandise it has to be described well defined, and you receive it and this is good for people who do business and we deal with, you know, future contracts. This is a future contract that is held in Islam, it's called Selim, but here usually the price that is paid upfront is discounted is decreased and it is decreased because the the buyer is giving some time to the seller to provide the commodity. So there is a time value of money that is recognized, because it is connected with the
sale not with the loan, all the time value of money is not recognized when it is connected with or linked with loans or debts is only recognized when it is connected with sales below to Allah.
it is permissible, it is permissible. The only problem is they give you They always stipulate late penalties. If you are late, you don't pay on time, they will charge you a penalty. penalty is a form of interest. But personally, I believe it is still a form of interest, but I believe that Muslim scholars have to look into it. Because it is found everywhere. Everywhere now is all contracts. And we keep saying this is haram This is haram and we are paying bills dealing with enmax and atco. And all these companies, and they have this condition that if you are late, they will charge you interest. So So I believe that's Muslim scholars in this land should look out Look carefully into
this. Because they talk about need and need when it becomes prevalent when it becomes public. When it has a communal nature, like everyone is facing this problem. Then there are some you know, concessions in Sharia. But of course these concessions have to be made by you know, through in a collective wish they had it shouldn't be the federal of one emammal one scholar
Yeah, library. They don't they don't give you anyway. It's a late fee. Similar similar concept. Yeah. But the problem is, let's let's forget about the library. Now. Did you understand the difference between now the increase within interest base agreements and the increase through these installment based contracts? Right. Okay. and
at what time is the other?
It's already time. Okay, last question.
Is how long
life insurance is harder than other types of insurance are controversial and, and Roland Modi said Muslims are permitted to use them car insurance, health insurance when they need them or are using paying car insurance. But life insurance is something that is agreed upon that it's Haram. It's not permissible.
In a lockdown of physical law patron Subhana Allah hunting shadow, Mr. Foucault today.