Lessons from Last Hajj Sermon of Prophet Muhammad (pbuh)

Prophet Muhammad (pbuh) delivered His last sermon (known as Khutba-e-hajjatul-Wida) on the ninth of Dhul Hijjah in 10th year after Hijrah (migration from Makkah to Madinah). The sermon was delivered in the valley of mount Arafat. It was the best example of eloquence, brevity, conciseness and the content of the message emphasized upon justice and equality. The message in the sermon was delivered more than fourteen centuries ago and is an essence of the true message and philosophy of Islamic faith.

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History and Philosophy of Qurbani

Qurbani or sacrifice is synonymous with surrender. It symbolizes that the person performing Qurbani is willing to sacrifice everything dear to him for Allah. It symbolizes and strengthens the promise with Allah that the person performing Qurbani would be willing to obey all the commandments of Allah and will sacrifice his interests and belongings that come in the way of fulfilling Allah’s orders.

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A Brief Look at Interest

“The term riba encompasses interest in all its manifestations irrespective of whether it relates to loans for consumption purposes or for productive purposes, whether the loans are of a personal nature or of a commercial type, whether the borrower is a government, a private individual or a concern, and whether the rate of interest is low or high” (Council’s Report, 1980).

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Advertising in Presence of Product Differentiation: Outlining Islamic Etiquette

A market in which there are many producers serving differentiable products is known as monopolistic competition. In this market type, often producers adopt certain marketing strategies and execute marketing plans to increase their product’s appeal, demand and hence increase the sales and thereby profits. It also helps them to create brand loyalty for their products. From an Islamic perspective, there are certain principles and broad guidelines that must be followed and taken care of while advertising the products.

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Balancing Market Mechanism and Divine Injunctions in Islamic Economic Framework

Rather than complimenting humans in their animalistic instincts to keep having one-eyed focus on material well-being only, Islam inculcates piousness, kindness, cooperation and communal responsibility in humans. In some instances, Islam guides explicitly to avoid extravagance, lavishness and using certain products and services which harm a human’s ethical existence and well being either individually and/or harm the society in the process.

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