What You Need to Know About a Fatawa
Because our main business is specializing in Islamic financing consulting, it’s important for our clients to understand the importance of a Fatawa. This is one of the central concepts that revolve around the sharia compliant transactions we structure for different types of real estate.
We want all of our clients, both Muslim and non-Muslim alike, to understand the significance of this idea. That’s why we’ve put together some information on what you need to know about these sharia compliant legal opinions.
A Definition
Muftis issue these rulings. You can learn more about these scholars and their work with the Ijara Community Development Corporation by following this link.
Why A Fatawa Matters
These general interpretations of Islamic law are important for several different reasons. They can deal with everything from religious doctrines to ethical questions and rituals. We look for Sharia compliance in the ones we use .
Please note the pronouncements that come out of these Islamic rulings are different than the rules that come from judges or lawyers. Where the products we supply are concerned, these rulings are not always consistent in all aspects.
However, for practicing Muslims and others looking for social justice in real estate transactions, these rulings as they pertain to riba don’t change. They rule against banks or other financial institutions charging interest.
These are evidence supported. They add credibility to the Islamic banking sector.
The Role of the Mufti
Understanding how a fatawa works and why they are so important to Lease to Own structures means taking the time to look at the central role of the Mufti. The word translates to verdict or legal decision given by one of these experts. It usually approves an action.
These rulings are applied to specific situations. All of these requirements and others place the Mufti in a position of prime importance. In fact, within some communities, they actually play the part of a prophet and a kind of legislator.
These spiritual experts are guided by the Qur’an. As Islamic financing becomes a global force in today’s world, these interpreters of Sharia Law become critical figures.
Carefully Considered
It’s essential these rulings are studied. They get backed up with spiritual evidence so Islamic financial products and other loans are credible.
We are a sharia compliant support. We help when you want Islamic financial products to replace existing mortgages. For buying residential and commercial properties. The ijara Community Development Corp. (ijaraCDC) works with clients in every province in Canada and 50 states in America. If you want to learn more about our sharia compliant solutions and the fatawa rulings that go with them, get in touch today.
