Islam calls for benevolence, mercy, kindness, peace and love in all walks of life, strata of society, creed or colour. The economy, considered to be the backbone of society, is no exception nor are day-to-day activities pertaining to economic and financial matters. Here also, Islam insists on human welfare. Therefore, Islam strictly prohibits any kind of interest in any transaction, especially fees for lending money on specific terms. Similarly, investment in trade dealing with forbidden goods is considered contrary to the tenets of Islam and is not allowed under the no-interest system of Islamic economy. In the system, charging extra for dealing with mortgages, etc., is also not allowed. If a person borrows money against his property or a moveable assets, for instance, jewellery, he should not be charged extra. This and various other principles are at the core of the interest-free system of Islam. The present book is an initiative to add another pearl to the many books which are already available on this subject. Hopefully, it will be appreciated and welcomed in concerned circles.
ABOUT THE AUTHOR M H Syed
Dr. M.H. Syed, an academic and scholar in his own right, is basically a political scientist. He has further diversified his interests into research and serious studies in subjects like History, International Relations, Human Rights etc. An M.A., M.Phil., Ph.D. in Political Science, M.A. in English Literature, diploma in International Relations and Diploma in Journalism. He began his career as a feature writer in All India Radio and Press Information Bureau. Later, he was associated with United News of India and Times of India. He has also edited several periodicals and penned dozens of articles for esteemed dailies and weeklies., apart from participating in various seminars and symposia. As an author, he has several books to his credit, in addition to dozens edited by him for reputed publishers. An established name in literary circles, Dr. Syed is totally devoted to research and writing.
ABOUT THE AUTHOR Muhammad Moinuddin Khan
Muhammad Moinuddin Khan, an authority on Islamic Law, is an AMU product. He is an author and scholar in his own right. He has earned his M.A. and L.L.B. (Hons.) degrees from Aligarh Muslim University. Completing his studies, he devoted himself to research and serious writing, particularly engaged in working on Islamic Law.
Recently, he has diversified into Islamic Jurisprudence and unearthed many hidden facts. Based in Aligarh, as a full time academic, he is currently busy with his project on Fundamental Aspects of Islamic Law. He has several books to his credit. This is his new work on the subject.
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