Islamic finance

So for the last few days, I drove one of my friend’s VW Gti and it felt great. My friend leased the car for three years.Alhamdulillah I have a car. It is old and has started giving me problems. Now I thought to myself it would be good if I could finance a car. I mean its really cheap and it saves you alot of hassle.I don’t see any harm in doing it.  One thing that stops me is will it be a halal transaction? I am so confused. My knowledge in Islamic finance is so weak. Some people say its ok some say its not. I mean I know riba is haram. Is their riba in this transaction? I want to learn this aspect of Islam inshAllah so I can make righteous decisions.

Which brings me to the crux of this post. Why doesn’t our community give courses or classes on this? I have never heard of a lecture on financial matters in communities I have lived in. Even Al-Maghrib does not offer classes on this subject. I remember I was sitting with a very well-known Shaykh and having lunch with him. I explained to him how the entire American system is based on debt and how the banking system works. To my surprise he said: ” A brother who works in a bank would be more knowledgable to answer the questions you pose,  I do not know.” Surprising huh? So the question then becomes are we lacking the scholarship in this area or the scholars do not want to teach on this subject? I humbly request those who read this, please inform me if you know of any course or halaqa that talks about this. I need Ilm!


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