Explanation

The term "Riba" literally means "Any excess."

Explanation

Under Shariah law, theft is punishable by amputation of the hand if strict conditions are met.

These conditions include minimum value of stolen property, security of the item, and absence of necessity or coercion.

Explanation

• A land Tax imposed on the non-Muslim cultivator and landlords was known as Kharag.
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• Kharāj (Arabic: خراج) is a type of individual Islamic tax on agricultural land and its products, developed under Islamic law. 
• Kharaj was originally a property tax paid only by non-Muslims, but Muslims had to pay a "tithe".
• But finally, the term  Kharaj refers to all taxes paid to Islamic authorities.
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• The list of taxes imposed under Firoz Shah Tughlaq is as follows: Kharaj: land tax which was equal to one-tenth of the produce of the land.
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• Jizyah, historically, a tax paid by certain non-Muslim minorities to rulers in Muslim states.
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Explanation

I'jaz al-Qur'an (Arabic: إعجاز القرآن) is an Islamic philosophical and theological concept that refers to the inimitability of the Quran.

It asserts that the Quran's content, style, linguistic beauty, structure, and depth are so unique and perfect that no human or group of humans can ever produce a text like it.

This quality is considered a form of divine miracle, serving as proof of its divine origin and the authenticity of the prophethood of Muhammad.

Explanation

Musharakah (Arabic: مشاركة, meaning "sharing") is an essential concept in Islamic finance that represents a joint partnership or a joint venture.

It is a structure where all partners contribute capital, and they agree to share both the profits and any potential losses of the enterprise.

The key principles of Musharakah are based on equity and justice:

Profit Sharing: Profits are distributed among partners based on a pre-agreed ratio (which does not necessarily have to match the capital contribution ratio).

Loss Sharing: Losses, however, must be shared strictly in proportion to each partner's capital contribution.

Explanation

Wahdat al-Wujud (Arabic: وحدة الوجود) literally means "Unity of Existence" or "Unity of Being".

This is a central philosophical concept in Islamic mysticism (Sufism) which posits a non-dualistic view where all existence is fundamentally one and a manifestation or expression of the Divine, meaning there is no true separation between the Creator (God) and the creation.

The perceived multiplicity of things is seen as different aspects or reflections of the singular ultimate reality, which is God.

Explanation

Qiyas (قياس) is the principle of analogical reasoning in Islamic jurisprudence.

It involves using reasoning by analogy to derive a ruling or judgment in a particular case, based on a similar case or principle established in the Quran, Hadith, or previous juristic decisions.

Qiyas is one of the four main sources of Islamic law, alongside:

1. Quran (the holy book of Islam)
2. Hadith (the sayings and actions of the Prophet Muhammad)
3. Ijma (consensus of the Muslim community)
4. Qiyas (analogical reasoning)

Explanation

Ijma al-Fuqaha refers to the consensus of scholars (fuqaha) on a particular legal issue

This is distinct from individual opinions or consensus within the larger ummah (community).

Additional information:

It can be operated where: The Quran and Hadith have not clarified a certain aspect of the Law

Ijma Literally, 'consensus' or 'agreement'.

Explanation

Ijtihad is the process of making a legal decision by independent interpretation of the Quran and Sunnah

It allows scholars to apply reasoning for the public good (maslahah).

Explanation

1. The Quran
2. The Sunnah (traditions of the Prophet Muhammad SAW)
3. Ijma (consensus among Muslim jurists)
4. Qiyas (analogy)