An Introduction to Islamic Finance: Theory and Practice

(Romina) #1

56 AN INTRODUCTION TO ISLAMIC FINANCE



  1. See 16: 91-92; 17:34.

  2. See 23:8.

  3. See, for example, 5:1; 2:282; 6:151 153; 9:4; 16:91–4; 17:34–6; 23:8.

  4. See, for example, 2: 58 and 283; 12: 52; 23: 1–8; and 42: 107, 125, 143, 162,
    178, 193.

  5. For example, in a few short, but signifi cant statements (quotations from Payandeh
    1984), he declares:


■ (^) “The person who is not trustworthy has no faith, and the person who breaks
his promises has no religion.”
■ (^) “Maintaining promises perfectly is a sign of faith.”
■ (^) “There are three (injunctions) that no one is allowed to violate: treating par-
ents kindly regardless of being Muslim or non-believer; keeping a promise
whether to a Muslim or to a non-believer; and returning what is entrusted
for safekeeping—regardless of whether the person entrusting is a Muslim or
a non-believer.”
■ (^) “Return what is placed in your trust for safekeeping to the person who has
trusted you and do not betray even the one who has betrayed you.”
■ (^) “Three (behavioral traits), if found in a person, then he is a hypocrite even
if he fasts, prays, performs bigger and smaller pilgrimages, and says ‘I am a
Muslim:’ when he talks, he lies; when he promises, he breaches; and, when
trusted, he betrays.”



  1. See 2:282; 4:105, 107–08; 6:152; 8:127 and 75–6.

  2. See 9:4.

  3. Qur’an 9:34.

  4. See the Qur’an 5:2.

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