5 Types of khiyar in Buyu/ right of the buyer & seller in Islamic transaction.

The term khiyar refers to the option or right of the buyer & seller to rescind a contract of sale. Literally, the word khiyar  denotes a choice on the part of the holder of the right of option, who may either conirm the act or render it void. Legally, khiyar  means the option or right of withdrawal for the parties involved to terminate the legal act unilaterally.. Khiyar Majlis:…

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What is Riba and the two types of Riba?

The word "Riba" means excess, increase or addition. According to Shariah terminology, it implies any excess compensation without due consideration RIBA IN THE QURAN First Revelation (Surah al-Rum, verse 39)“That which you give as interest to increase the peoples' wealth increases not with God; but that which you give in charity, seeking the goodwill of God, multiplies manifold.” (30: 39)Second Revelation (Surah al-Nisa', verse 161)“And for their taking interest…

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