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AMJA Resident Fatwa Committee resolution about Islamic Home Financing Companies in the US.

In Finance, Mortgage by bocapro

بسم الله الرحمن الرحيم In the name of Allah, the Compassionate, the Merciful All praise are due to Allah alone and may the peace and blessings be upon the Messenger of Allah. To proceed: The AMJA Fiqh Committee Resident Fatwa Committee met in Houston on the 20-22 of Dhul-Qadah 1435 A.H. (September 15-17 2014 C.E.) in order to issue a …

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About buying foreclosure homes directly from the bank

In Finance by bocapro

The Permanent Fatwa Committee of AMJA (The Assembly of Muslim Jurists of America) has conducted an in-depth study on the issue of buying homes directly from the bank (foreclosure) as it occurs in the United States of America. Several members of the committee submitted working papers for discussion and mutual exchange of viewpoints, with deliberations continuing over the course of …

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The Question of Insurance – Part I

In Finance by bocapro

Introduction All praises are due to Allah. We praise Him, seek His Help, and ask for His forgiveness. We seek refuge in Allah from the evil in our souls and from our sinful deeds. Whoever Allah guides, no one can mislead. Whoever Allah leads astray, no one can guide. I bear witness that there is no one worthy of worship …

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The Question of Insurance – Part II

In Finance by bocapro

Auto Insurance Auto insurance in most (if not all) Western countries is mandated by the state. (Among Muslim scholars, Al-Zarqa and Abdullah Ali-Mahmood argue that automobile insurance must be required even from a Shareeah perspective as it is the way by which people can fulfill their responsibility towards others in the case of accidents, which are an everyday occurrence and …

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