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ISLAMIC
FINANCE At AWQAF Africa including
Interest Free Finances And Savings
Designed
For And Offered To Muslim Individuals,
Muslim Communities, And/Or Muslim
Organizations
AWQAF
Africa offers straightforward Interest
Free Loans, without any rate, charge, or
fee.
AWQAF Africa believes in and
practices the teachings of Islam that
loans personal, commercial, or communal
should be fair, hassle free, and
relieving.
AWQAF Africa gives an open and
honest picture as provided in Islamic
Law.
AWQAF Africa makes it very easy
and simple to apply for all its
provisions and consultancies.
However, AWQAF Africa conditions
and appeals the applicants used such
provisions and consultancies only for
things that are at Tayyiba^t (i.e. good
things according to Islamic Law).
Considerations are given to those
who seek to use such provisions and
consultancies to give up (or ‘pay
off’) any loans, credits, or other so
called financial facilities based on
ar-Riba^ - paying and/or receiving
interests or usuries -
Preparation
of Islamic Financial Contracts
Designed
For And Offered To Muslim Individuals,
Muslim Communities, And/Or Muslim
Organizations
AWQAF
Africa offers pure Islamic guides and
helps in preparing Islamic Financial
Contracts between individuals,
communities, and/or organizations free
and with no service charge or
administration fee.
AWQAF Africa seeks to serve the
Muslims to avoid among themselves and
with others dealing of ar-Riba^ - paying
and/or receiving interests or usuries-
Financial
Teachings And Advice
Designed
Upon Request From
And Through an Open College For
Muslim Individuals, Muslim Communities,
And/Or Muslim Organizations
Free
guides and answers on Islamic Affairs
are offered by Al Amir of AWQAF Africa
Sheikh Abdul-fattah Abu-Abdullah Adelabu
(Ph.D Damas) and are available upon
written requests.
AWQAF Africa runs an open college
teaching Islamic Finance with
qualifications that enable the Muslims
to serve themselves as well as their
communities, offering maximum
flexibility, so that it is possible and
easy to build a program of studies that
fits both personal and community needs
and to adapt accordingly.
Ar-Riba^
- paying and/or receiving interests or
usuries - is one of the Seven Heinous
Sins (as Sab’ah al Mu^biqa^t)
The
Prophet (s.a.w.) said: “Avoid the
seven heinous sins”.
The people enquired, “O
Allah’s Messenger!
What are they (the seven heinous
sins)?” He (the Prophet s.a.w.)
replied, “To associate others in
worship along with Allah, to practice
sorcery, to take a life that Allah has
forbidden except in a just cause (as in
the Holy Qur’an and the Noble Sunnah),
to consume ar-Riba^ - paying and/or
receiving interests or usuries, to
devour an orphan’s wealth, to turn
one’s back on the enemy and flee from
the battlefield (in Jihad), and to
accuse chaste women who never even think
of anything touching their chastity and
are good believers.”
Reported by al Bukhari in the
Book of al Hudu^d, by Muslim in the Book
of al Iman, and by others.
The
individuals or groups that deal with
ar-Riba^ shall not stand except like the
standing of an individual or group
beaten by Satan.
“Those
who consume ar-Riba^ will not stand (on
the Day Of Resurrection) except like the
standing of a person beaten by Satan
(the Devil) leading him to
insanity...” Q2:275
Allah
will destroy ar-Riba^
“Allah
will destroy ar-Riba^ and will give
increase for as-Sadaqa^t - i.e. deeds of
charity and/or almsgiving - Q2:276
Dealing
with ar-Riba^ is a noxious practice of
enslavement and quiet the opposite of
trading.
“That
is because they say: “Trading is only
like ar-Riba^”, whereas Allah has
permitted trading (without paying and/or
receiving interests or usuries) and
forbidding ar-Riba^ -paying and/or
receiving interests or usuries - Q2:275
Dying
while still dealing with or returning
(after abandoning) ar-Riba^ is a doom.
“However,
whoever returns to (after abandoning)
ar-Riba^ such are the dwellers of the
Hell Fire - they will abide therein.
Q2:275
The
individuals or groups that deal with
ar-Riba^ are in war with their Lord (and
His Prophet s.a.w.).
“Behold,
If you do not (refrain from or give up
what remains (of your dealings) from
ar-Riba^ then take notice of war from
Allah and His Messenger (s.a.w.)”.
Q2:279
Ar-Riba^
is an unjust dealing.
“Deal
not unjustly (by dealing in ar-Riba^ -
paying and/or receiving interests or
usuries). Q2:279
The
individuals or groups that deal with
ar-Riba^ are cursed.
“The
Prophet (s.a.w.) cursed the person who
accepts usurious finance and the person
who provides usurious finance, and the
person who records dealings of usurious
finance, the persons who witness
dealings of usurious finance, and said:
“They (the dealings of usurious
finance) all do not matter (or do not
make any difference from trading).”
Reported by Muslim in the Book of
Transactions.
The
individuals or groups that deal with
ar-Riba^ are undergoing and shall
undergo painful torments.
The
Prophet (s.a.w.) said: “This night I
saw (in the dream that) two men came and
took me to a Holy land from whence we
proceeded till we reached a river of
blood where a man was standing, and in
the middle of the river was standing
another man with stones in his hands.
Whenever the one who was standing
(in the river) tried to come out, the
other threw a stone in his mouth and
forced him to go back to his original
place (the river of blood).
So, whenever he tried to come
out, the other man would throw a stone
in his mouth and force him to go back to
his formal place (the river of blood).
I (the Prophet s.a.w.) asked:
“Who is this?”
I (the Prophet s.a.w.) was told:
“The person in the river used to
consume ar-Riba^ - paying and/or
receiving interests -.”
Reported al Bukhari in the Book
of Transactions and by others.
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