A trustworthy person must record your deals and contracts

“O you who believe! When you contract a debt for a stated period, then write it down; and let a literate person write it down between you properly.”  (The holy Quran 2:282)

In an era in which only a handful of people were literate in Saudi Arabia and most contracts were not written down and were agreed on orally; by Gods order the Prophet of Islam (p.b.u.h.), encouraged people to write down their contracts. Using this part of the verse the following points can be perceived:

1) It is permissible to give and take loans, and to buy on credit.

2) It has been instructed to write down the loan and credit. This will prevent any future misunderstandings and misconceptions.

It has been instructed that a preliminary agreement should be prepared, and the period and conditions of the agreement should be specified. It has been strictly emphasized that everyone should be loyal to their agreements and promises.

“O you who believe! Fulfill the obligations.”  (The holy Quran 5:1)

Writing down the documents and being loyal towards them will secure the financial rights of the people in the society.

• 12/07/2010 11:45 - About Prayer
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