1. Adding Islamic Value to Business Houses.
Alhamdulillah, in the last decade there has been a great interest generated around Shari’ah Compliancy in business. In the past Deeni concern was confined to issues of ibadaat like Salah, Zakat, Haj, Tasawuf etc. Now, it is an emerging trend for people to enquire about the application of the Shari’ah to business related issues. This is so because people have been reminded of the Hadith that when one stands before Allah Ta’ala on the day of judgement, one will be asked:
من أين اكتسبه وفيم أنفقه
From where did he earn his income and where did he spend it
This Hadith is sufficient to stir a person into correcting his business practices. It is not only about buying the bread and milk, but also about how you buy. The item being Halaal is important, but so too is the procedure of the transaction, which itself could determine something being Halaal or Haraam.
A popular concern of today’s Muslim Businessman is: “Is there any Alim or Mufti to whom I can have individual access to discuss my business issues in confidence?” Within such a project, the Mufti will be in a position to analyse the individual business needs and advise accordingly. In this way, mechanisms could be engineered to overcome unislamic practices. We hope that if this is undertaken, over a few sessions the business will get closer to Shari’ah Compliancy.
Deen is found in the Masjids, Madrasahs and to some extent in homes. Imagine this Deen to come into our businesses!
Alhamdulillah, Hadhrat Mufti Ebrahim Desai Saheb has agreed to make himself available to provide such a service. Due to such interaction being involved and time-consuming, prior appointment should be made for this service. Each meeting will be designed around the personal needs of the particular Muslim Businessman.
2. Investment Products.
The public constantly ask where they may invest their funds for a Halaal income. Most of the products presently available do not meet the requirements of the Shari’ah. This has created despondency amongst the middle and lower income bracket. Where does a widow invest her R5000? How does a poor person aspiring for Hajj save and earn on his savings to undertake the journey?
Insha-Allah the Darul Iftaa will be focussing on engineering Shariah Compliant products to cater for all levels of society.
The Darul Iftaa is currently consulting with various International Investment Companies and Financial Institutions in setting up Shariah Compliant products. You can view our Islamic Finance Page for more information.
3. Commercial Mediation and Arbitrations
Alhamdulillah, Hadhrat Mufti Saheb has successfully arbitrated and mediated many commercial disputes. This is done with the assistance of professional Accountants and Lawyers. Arbitration awards are enforceable via the secular courts. Insha-Allah this service will continue and thus saving the businessmen costly litigation fees. More importantly, the decisions are based on the Shari’ah.
4. Businessman Data
Darul Iftaa will keeping an eye on the developments in the Economic and Financial Sector and inform the public about the Islamic overview. For this we will be keeping a database of local and foreign businessmen. An email newsletter will update you about the different Shar’i solutions. To take full benefit of this businessman data, we urge you to send your physical address as well email address to any of the contacts provided below.
5. International Students
Islamic Banking has become a rapidly expanding international phenomenon. Over the years Mufti Saheb has studied various contracts from many banks around the world and observed the need to assist in this regard. The Darul Iftaa will be hosting a 2 months educational programme on business and commerce engineered for professionals. Mufti Saheb has in the past conducted such a programme for foreign students, who successfully completed a Certificate Programme in Islamic Banking. This programme will be conducted yearly and will help the professionals to bridge the gap whilst contributing the expertise they bring from their respective fields of study.
6. Askimam and Other Websites
In the past Hadhrat Mufti Saheb has lent his expertise internationally to different websites and forums. “Askimam” is one of the largest Fatwa Resources on the internet and is run by a Company based in USA. Currently the website is being serviced by the students of Hadhrat Mufti Saheb. After repeated requests from the company, Mufti Saheb has acceded to their request and will resume his assistance to the Company.
Hadhrat Mufti Saheb also supervises a Tasawuf related website www.daralmahmood.org. With the establishment of Darul Iftaa, Hadhrat Mufti Saheb will also take full charge over the new web portal, www.mahmudiyyah.com and www.daruliftaa.net. This website will offer a range of services including Articles, Newsletters and Educational resources in the fields of Islamic Business and Finance, as well as Fiqh and Da’wah material.
Hadhrat Mufti Saheb is renowned for his rigorous training, especially in view of his academic astuteness and knowledge of international demands. The Darul Iftaa will be housing between 5 – 10 students, from both SA and abroad. Students shall have to fulfil a rigorous selection process to qualify for enrolment.
Masha’Allah South Africa is filled with many Muftis and Ulama, while in some countries like Australia there is not even a single Mufti. Alhamdulillah the first Mufti of Australia will be coming over to Hadhrat Mufti Saheb to complete his Iftaa Course.
8. General Issues
People consult with a Mufti according to their individual need, which varies from person to person. Hadhrat Mufti Saheb has always made himself available for any Deeni queries, as well as social matters and marital issues. Hadhrat Mufti Saheb will continue to dedicate his time to help out the public through the Darul Iftaa. The public are welcome to contact Mufti Saheb in order to take advantage of his dedicated commitment to serve the public.
Mufti Saheb has been teaching Bukhari Sharif for the past 15 years, and he will continue his academic career in Hadeeth at Darul Uloom Nu’maniya, Chatsworth.
May Allah Ta’ala crown all the efforts of the Darul Iftaa with success, and cause it to be a means of earning His pleasure. Aameen