Minority Fiqh Cont. Islamic Finances In The West Flashcards
When was the European council for fatwa and research founded?
1997
What is riba and why is it prohibited?
Riba is know as interest or further “to increase” and is condemned in the Quran because it’s is used in reference to unequal exchanges and the profit that’s made by exploitation through bank interest.
What is a fatwa?
A ruling worked out by a recognized religion authority on a specific point of the Islamic law
Why was the European council for fatwa and research founded?
To provide religious guidance in matter of Islamic law to Muslims in Europe in form of fatwas.
What are some examples of fatwas issues by the council?
-Forbidding investments with fixed returns
-discouraging working at places where they sell pork
-ban if sale of alcohol in restaurants owned by Muslims
-civil marriage and divorce
-medical ethics
-women’s rights and duties
Who was the president of the European council for fatwa and research when the fatwa on the purchase of a house through interest-based mortgage was issued?
Yusuf al-Qaradawi
What was the underlying principle for the purchase of a house through interest-based mortgages and the verdict of the fatwa?
Council clarified distinctions between different types of loans, and such activities taken to alleviate necessities (such as having a home) ere qualified as permissible. The verdict was that home ownership through mortgages is the only solution for the majority of Muslims in the west.
What university did Yusuf al-Qadawari study at and why was he seen as a “global mufti”, and one of the most influential Sunni Muslim Scholars in the world for more than two decades?
al-Azhar university, and Because he trained as a jurist at the Sunni worlds oldest and most prestigious religious university, a member of the Egyptian Muslim brotherhood, the most authoritative scholar among brotherhood activists, a regular guest on al-Jazeera’s program (Shariah and Life) he headed the European council for fatwa and research, and later the international union of Muslim scholars. He was seen as a very influential person for western Muslims communities in the 1980’s.
