> ISLAMIC LIFE EXCLUSIVE: Interview with Umer Chapra

[Assad]

Islamic Life is proud to bring its members an exclusive chance to ask questions related to Islamic Finance from M.Umer Chapra.


Below is a brief biography of M. Umer Chapra.

Dr. M. Umer Chapra is Research Advisor at the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IDB), Jeddah. Prior to this position, he worked at the Saudi Arabian Monetary Agency (SAMA), Riyadh, for nearly 35 years, retiring as Senior Economic Advisor. He has also taught as Assistant and Associate Professor of Economics at the University of Wisconsin (Platteville) and the University of Kentucky, Lexington; as Senior Economist and Associate Editor of the Pakistan Development Review at the Pakistan Institute of Development Economics; and as Reader (Associate Professor) at the Central Institute of Islamic Research (Pakistan).

He has authored 16 books and monographs and more than 100 papers and book reviews. Some of his books, monographs and papers have been translated into a number of languages, including Arabic, Bangla, French, Indonesian, Japanese, Malay, Persian, Polish, Spanish, Turkish and Urdu.

Please post any questions which you have related to Islamic Finance in this thread before November 4th 2009.

[al-boriqee]

my question is as follows

can a bank who offers loans, can they charge people a fee for that loan with the reasoning that since the bank is offering a service to the loanee, then the service charge would therefore be acceptable or would such a contract entail ribaa?

[Qatada]

asalaam alaikum


if we join uni, we need to get a riba based loan for student fees.. what can we do?

[Yanal]

As-Saalamu Ala'kum.

How did it go?