Executive Summary

In this course, Shaykh Faraz Rabbani covers the legal rulings related to trade and transactions according to the Hanafi school. This course serves to provide a proper understanding of Islamic jurisprudence (fiqh) of commercial law.

Introduction

In this course, Shaykh Faraz Rabbani covers the chapters on financial transactions, relying on the great classical commentaries—including Maydani’s Lubab—and major reference works of the Hanafi School.

Topics covered include the basic contract and transaction, conditions of the sale, the invalid and corrupt sales, options of return, interest, partnership, currency exchange, rent and hire, agency, deposits, misappropriation, and concludes with sharecropping.

This course is ideal for students of Islamic knowledge. Previous study of Fiqh is recommended, but not a requirement.

Curricular Context

  • This is a level two  course
  • Before taking this course, take The Absolute Essentials of Islam (Hanafi) and On Worship (Purification, Prayer, Fasting, Zakat, and Hajj): Shurunbulali’s Ascent to Felicity
  • Take this course before any course in Level Three

Course Outline

Lesson 01: Introduction
Lesson 02: The Book of Trade
Lesson 03: Options of Cancellation
Lesson 04: Impermissible Transactions
Lesson 05: Cancellation of a Sale, the Cost-Plus Sale, and the At-Par Sale
Lesson 06: Interest
Lesson 07: Forward Sales
Lesson 08: Currency Exchange and Collateral
Lesson 09: Prevention from Transacting
Lesson 10: Admissions
Lesson 11: Hires
Lesson 12: Right of Preemption
Lesson 13: Partnerships
Lesson 14: Working Partnerships
Lesson 15: Agency
Lesson 16: Guarantor
Lesson 17: Reconciliation
Lesson 18: Gifts
Lesson 19: Endowments
Lesson 20: Misappropriation
Lesson 21: Deposits
Lesson 22: The Foundling and Returning Lost Items
Lesson 23: Hermaphrodites, Missing Person, and Runaway Slaves
Lesson 24: The Authorized Slave, Sharecropping, and Irrigation Sharecropping

What You Will Learn

  • The core rulings related to trade and transactions;
  • The wisdom and purpose of these legal rulings;
  • The practical implementation, with excellence, of Divine Guidance;
  • How legal reasoning works, to give a better understanding of “how Fiqh works;” and
  • The method of the Hanafi School.

Course Format: 24 + supplementary downloadable lessons plus a monthly live session.

About the Course Text

Imam Quduri’s full primer (matn) in Islamic law is so famous, that it is simply referred to as “The Book” (al-Kitab). For 1,000 years, it has served as the starting point for a full study of the science of Fiqh.