I.R.E QUESTIONS AND ANSWERS

Discuss the economic challenges faced by the Muslims in Kenya

3/4/2021

Economic challenges face by the Muslims in Kenya.

any other good point.
(8 x 1 = 8 Marks)

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26/3/2021

The lender should by no means charge interest on the money he/she lends
The debtor must keep his/ her promise to pay back money according to the agreed terms
The lender should give the money or property in good faith
The agreement to lend the money should be in a written form or done in the presence of witness.
Failure to pay a debt is a sin
A debtor include his debts in his/her will
The lender must demand the payment of his money if the debtor delays his payment
If the debtor dies he or she heirs have to pay the debt from his or her estate before they share of the state
A lender at his or her own wish can decide to forfeit or write off the debt in case the borrower fails to pay due to financial constraints.

23/3/2021

Teachings of Islam on debts.

Has to be honoured.
No interest should be charged.
Debtors should be allowed more time if they cannot raise the amount of money in time.
Terms of agreement should be in writing.
The parties should be matured.
Terms of agreement should be simple and clear. Debtors should keep his/her promise to pay back the money according to the agreed terms.
Debtors should include his debts in his/her will.
Lenders must demand payment of his money if the debtor delays his/her payment.
If the debtor dies his/her heirs have to pay debts.
Lenders can forfeit the debt if borrower fails to pay due to financial constraints.