Mufti Ismail Desai

Mufti, Muslim Jurist, Shariah Scholar, Investment Banker, Author, Islamic Finance/Economic Advisor and Motivational Speaker

[Mufti Ismail Desai @MftDesai]

Assalamu Alaykum. Kindly contact us for free hard copies of “Your Brief Guide to Islamic Finance” with forwards from Senior Scholars and Economic/financial Experts. The book is also available in Russian, Turkish, Kurdish, Urdu, Pushtu and Spanish Languages.

[Mufti Ismail Desai @MftDesai]

Six Rules of Juálah (incentive/reward) in Islamic Jurisprudence (Fiqh) :

✅ Completion of the stipulated outcome is required before entitlement to the reward is considered.
✅ The participant need not be specifically identified at the inception of the arrangement.
✅ The precise nature of the work may remain broadly defined.
✅ Advance payment of the reward (Ta'jeel) is not permitted.
✅ Unilateral Revocation by the offeror (Faskh) may be permissible subject to the circumstances of performance.
✅ Reward adjustments and forfeiture provisions (malus and claw back provisions) may be accommodated within appropriate parameters. (Mughni, Pg. 429, Vol.2)

[Mufti Ismail Desai @MftDesai]

Always think the best of others (حسن الظن) since you have no direct evidence of their wrongs. Make excuses for others & focus on your own actions and thoughts. Put yourself in the shoes of the next person and protect your heart from negative thoughts and emotions. Jumuah Mubarak. MID

[Mufti Ismail Desai @MftDesai]

Always maintain the moral high ground in dealing with others despite their evil/sinister intentions and actions. Good character (Akhlaq Hasanah) & ethical principles nurtured over time becomes an immense magnetic force of virtue, happiness and morality. Jumuah Mubarak. MID #akhlaqhasanah

[Mufti Ismail Desai @MftDesai]

Almighty. Alleviate the pain and sufferring of those who have been wronged. Heal their hearts and alleviate their pain. Calm their minds amidst the turbulence and chaos. Grant them peace, tranquilty (Sakeenah) and stability. Aameen. (MID)

[Mufti Ismail Desai @MftDesai]

BNPL & Hawalah – A Contemporary Jurisprudential Review

Our Initial Fiqhi (jurisprudential) deliberations raised the following issues:

1. Additional charges over an existing debt (Shibhatul Riba)
2. Impermissible contractual conditions (Shuroote Faasidah)
3. Bay’ al-Dayn (sale of debt) with a fixed mark-up
4. Ijtima uqood al-Muáwadah (exchangeable contractual multiplicity)

The Shariah Compliant Alternative: Hawalah Mutlaqah — assignment of debt without additional charges. (MID)

[Mufti Ismail Desai @MftDesai]

The final moments of Ramadhaan serve as an opportunity to reflect and ponder. Plead before Allah SWT to accept our worship (Ibadah) and to forgive us for our wrongs. Don’t let the unique guest of Ramadhaan leave without any Roohani (spiritual) gain. (MID)

[Mufti Ismail Desai @MftDesai]

According to Shariah, Zakat and Sadaqah are mutaʿayyan (Fixed) funds designated for specific recipients (Masarif). Any tasarruf (dealing) that restructures these funds in a manner that alters their original mandate (istibdal/Istihlak al-Ayn) is impermissible. For example, utilizing Zakat for investment purposes. (MID)

[Mufti Ismail Desai @MftDesai]

We have a daily time schedule for the most important matters of our lives.

What time have you scheduled for your daily meeting with Allah SWT? Jumuah Mubarak. (MID)

[Mufti Ismail Desai @MftDesai]

Five Economic Benefits of Zakat

1. Wealth redistribution
2. Increased market demand and purchasing power
3. Economic Empowerment
4. Poverty Alleviation
5. Increased Investment versus hoarding of wealth (MID)

[Mufti Ismail Desai @MftDesai]

Sharing your life story on social media by posting pics of your holiday, loved ones, travels&material posessions sometimes call for unwanted attention from misguided people with evil intentions. May Allah SWT protect us from Hasad (jealousy), evil eye and Sihr. Aameen. MID

[Mufti Ismail Desai @MftDesai]

Riba and interest has been explicitly prohibited in the Quran and Ahadith.

Seven wisdoms related to the prohibition of Riba (Interest):

1. Unjust monetary leverage by the creditor gained through the deferment of the debt
2. ⁠Multiplication of debt through the extended time value
3. ⁠Artificial wealth and monetary creation
4. ⁠Unjust value creation by the creditor
5. ⁠Time does not have intrinsic value (Maliyah) according to Shariah hence one cannot profiteer from time accordingly
6. ⁠Pareto inefficiency and economic disequilibrium
7. ⁠Misallocation of financial and economic resources (MID)

[Mufti Ismail Desai @MftDesai]

Clean your heart daily from hatred, animosity and enmity of others. The simplest route to Jannah is to maintain a clean and pure heart. Maintain your integrity and honor by observing the moral high ground. Trust Allah SWT in dealing with your affairs. MID

[Mufti Ismail Desai @MftDesai]

Five Shariah Rules of Gold/Silver Trading:

1. Immediate exchange
2. Physical or constructive possession (Qabdh)
3. No future contingencies (Shara'it)
4. No additional trading fees
5. No derivatives/speculative trading (Gharar) (MID)

[Mufti Ismail Desai @MftDesai]

Five Shariah Rules of Cybersecurity Investments:

1. Underlying Shariah Compliant Structure
2. Major Source of Funds are Halal
3. Shariah Compliant Terms and Conditions
4. Shariah Compliant Services Only
5. No Aiding and Abetting in Sin

Detailed Fatwa: https://t.co/Y7F3jkgLyc

[Mufti Ismail Desai @MftDesai]

A life without challenges and test does not exist, and success without sabr (patience) is unattainable. When the challenges of life increase, let your hope (Rajaa) increase, since the assistance of Allah SWT draws closer with every hardship (Museebah). Jumuah Mubarak. (MID)

[Mufti Ismail Desai @MftDesai]

Sharing moments of our lives on social media such as holidays, travels and family moments should be done with wisdom (Hikmah). Not everyone who sees your happiness wishes you well. Sometimes silence is the best protection. Guard yourself and your loved ones! May Allah SWT protect us all from Hasad/, evil eye and Sihr. MID

[Mufti Ismail Desai @MftDesai]

Your connection with Allah SWT will determine the level of happiness in your marriage. (MID)

[Mufti Ismail Desai @MftDesai]

Mould your life in accordance with the timeless teachings of the Qur'aan, if you desire true and lasting tranquility. (Sukoon)

And if you wish to preserve the clarity of your mind, then anchor it with the recitation (Tilawah) of the Qur’an. (MID)

[Mufti Ismail Desai @MftDesai]

Don’t live with the burden of your past. The past is history. Unburden yourself from the baggage of the past. Learn the lesson and move forward. Enjoy your present life by living in the moment. Focus and pursue your bright future ahead of you. (MID)