Explanation

• Riba refers to prohibited interest or usurious gain in Islamic financial transactions.
• The Quran explicitly prohibits Riba.
• Islamic finance uses Shariah-compliant arrangements instead of interest-based lending.

Last verified on 09-11-2026

Explanation

• Qiyas means analogical reasoning in Islamic jurisprudence.
• It applies an established ruling to a new case because both share the same effective cause.
• The original case, new case, ruling and effective cause are its main elements.

Last verified on 09-11-2026

Explanation

• Asbab al-Nuzul means the occasions or circumstances of revelation.
• It explains the historical context of particular Quranic verses.
• It helps readers understand the context and meaning of revelation.

Last verified on 09-11-2026

Explanation

• A land tax imposed on non-Muslim cultivators and landlords was known as Kharaj
• Non-Muslim subjects paid kharaj on their lands;
• Muslim landowners generally paid 'ushr

Additional information:

• Jizyah: Personal tax on eligible non-Muslim adult males
• Khums: One-fifth (20%) of war booty and certain other specified gains
• Zakat: 2.5% annual tax on eligible Muslim wealth
• Ushr: One-tenth (10%) of agricultural produce from naturally irrigated Muslim-owned land

Last updated 08 Nov 2026 by NA

Explanation

• Maysir refers to gambling or games of chance in which wealth is gained at another party’s expense through wagering.
• The Qur’an explicitly prohibits Maysir in Surah Al-Ma’idah (5:90), alongside intoxicants and other prohibited practices.
• Lotteries and gambling-based transactions are common examples of Maysir because they involve wagering and the uncertain transfer of wealth.

Additional information:

• Gharar refers to excessive uncertainty or ambiguity in a contract that can lead to disputes or unfairness.
• Riba refers to prohibited interest or usurious gain in Islamic law.

Last verified on 19-10-2026

Explanation

• Ijtihad is the process of qualified juristic reasoning used to derive Islamic legal rulings for issues requiring scholarly assessment.
• A qualified Mujtahid needs sound knowledge of the Qur’an and Sunnah, the primary sources of Islamic law.
• Knowledge of Usul al-Fiqh (principles of Islamic jurisprudence) is essential for applying legal methods correctly.
• The scholar must understand Arabic, relevant scholarly interpretations, and the circumstances of the issue being assessed.

Last verified on 19-10-2026

Explanation

There are four fundamental sources of Islamic law:

1. The Qur’an: The primary source of Islamic law, containing Allah’s revelations and fundamental principles for human life.
2. Sunnah: The sayings, actions, and approvals of Prophet Muhammad (PBUH), which explain and clarify the Qur’an.
3. Ijma‘ (Consensus): The agreement of qualified Muslim scholars on a legal issue.
4. Qiyas (Analogical Reasoning): Applying an established ruling to a new issue because both share the same effective cause (‘Illah)

Last verified on 19-10-2026

Explanation

• Mudarabah: A Sharia-compliant profit-sharing partnership.
• Customer/Business: Uses the funds for a Sharia-compliant business.
• Profit: Shared according to a pre-agreed ratio.
• Purpose: Investment in lawful economic activities..

Explanation

• Law of Inheritance in Islamic Jurisprudence: Ilm-ul-Faraid (علمُ الفرائض)
• Also called: Faraid (فرائض)
• Meaning: Islamic law governing inheritance and the distribution of property

Explanation

• The wealth or property left by a deceased person is called Taraka
• Taraka means فوت ہونے والے انسان کی دولت 
• It is the basis of the Islamic system of inheritance (Faraid).

Additional information:

• Asabah: The residuaries who take whatever remains of the estate after the fixed-share heirs receive their portions.
  

Last updated NA on 10-09-2026