Your Money Matters – The Islamic Approach to Business, Money, And Work pdf download

Your Money Matters – The Islamic Approach to Business, Money, And Work by Mohammad Rahman, Ph.D. English Edition 1 (2014)

Highlights many issues in Islam that will, God willing, prove to be important and relevant to Muslims when they engage in tasks related to personal finances, business administration, investment, and work. Readers will find an overview of relevant excerpts from the Qur’an and the authentic Sunnah. Non-Muslims as well can gain valuable insights from this book that should prove useful in today’s multi-cultural business landscapes

YOUR MONEY MATTERS

To many, even the simplest Islamic finance concepts seemed contrived; from hard-liners to the non-religious, most people seemed to dismiss these concepts.

The former dismissed Islamic finance as a convenient attempt at the Islamization of riba, which is declared haram in the Qur’an;

they often claimed that banking itself is antithetical to the Islamic social system since the authentic Sunnah (the practice and collected sayings of Prophet Muhammad [4] that together with the Qur’an forms the basis of Islamic law) does not mention the existence of any formal financial institutions.

 The latter dismissed Islamic finance as merely placing an artificial facade over conventional interest-based banking in order to exploit the myopia of faith-blind Muslims who believe that interest 1s the same as ribá.

Generally, these dismissals would come swiftly from both groups.

The answers would frequently affect the students at a very personal level. For example, a student seeking employment with a financial institution might ask me to write a recommendation letter.

I would have to gently explain that I could not do so because working in banks is haram, and assisting a brother or sister is doing something haram is also forbidden.

Eventually, it became clear that in every case, the task of understanding Islamic finance becomes easier largely through the acquisition of authentic Islamic knowledge.

Subsequently, I answered questions by simply presenting the definition of ribá and highlighting the relevant verses in the Qur’an. Finance and banking are only portions of business as a whole.

Parallel to questions on Islamic banking, there arose many other general questions related to Islam in business, such as, “What happens when you are faced with such ethical dilemmas as whistle-blowing?”