Explain how does Time value of Money works? and Islamic perspective on the Time Value of Money?

                             

                  All praise is due to Allah, may peace, salutation and the blessing be upon the prophet Muhammad (ﷺ), his entire family, his companions and those that follow their footsteps with righteous until the last day. Indeed Time value of money (TVM) can be define as the idea that money that is offered today [Present day] is more worth than to be  received  in future of ; due  to its potential earning  capacity. Moreover, Time value of money is the core principle of economics or finance that provided money and can earn interest, any amount of money is worth more the sooner it is received afterward.

                             First of all I will like to discuss how time value of money (TVM) work in our daily like life activities. This concept time value of money is used in choosing among other investment suggestions. Furthermore, two element are vital in valuation of our cash flows these are: The interest rate (discount rate, opportunity rate and required rate of return) and what time do we need these cash flows to be evaluated…

Time line consideration

                  This shows the timing of each cash flows at a particular period, relatively today be zero but future being one is usually at the end 1^st or 2^nd period (month, year etc.).

      The Future value of single cash flows

      The Present value of single cash flows

      The Future value of annuities

      The Present value of annuities

      The Uneven cash flows

      The Amortized loans etc.

v  Future value of single cash flows

Produces to solve any FV, you need:

o   The present value

o   No. of years

o   The interest rate                             Example

The Camara Business communication and engineering technologist deposited GMD 100,000 today in a saving account at Guaranty Trust bank first that pays you 4% interest per annum. How much they get after one year..?

FV = PV * (1+I) ^n      FV= GMD 100,000*(1+0.04)    FV=100000*1.04 = GMD 104,000

As PV increase, FV increase. As I increase, FV increase and No. of year increase, FV increase.

v  The Present value of single cash flows example

Produces to solve any FV, you need:

o   The Future value

o   No. of years

o   The interest rate                             

Example

 Smart technologist need GMD 12,000 IC3 tuition expenses in two year. How will you need today in your saving account, with interest of 4% per annum?

FV= GMD 12000 N=2 and I=4%

                                 1                             2                              3                         4

 

                                                                                                                                        FV2

                            

                               PV= FV* [1/ (1+i)]     PV= 12000* [1/ (1+0.04)]   PV= 12000* 0.9615 = GMD 11538.46  

The Future value of annuities

                     The series of equal cash flows of payments in a particular period, with fixed interval. This consist of two types of payment methods.

o   Annuity Due: Occur at the beginning of period.

o   Ordinary Annuity: occurs at end of period.  

Annuity Due

FVn= PMT [(1+i) ^n -1) /1] (1+i)

Ordinary Annuity

FVn= PMT *[(1+i) ^n-1]

The Present value of annuities is little bit different

Annuity Due

PVn= PMT [1- 1/ (1+i) ^n) / int.] (1+i)

Ordinary Annuity

PVn= PMT *[1-1/ (1+i) ^n/ Int.]

Produces to solve any FV and PV of Annuity, you need:

o   The Annuity amount (PMT)

o   The number of period (n)

o   The interest rate charge (I )

The Uneven cash flows

These type of cash flows contain unequal, how to fine the PV and FV..?

Preset Value

                   0                           1                                 2                          3                              4

 

  

        96.15

          110.95

      160.02

      170.96

GMD 538.08

ET.C

The compound and simple interest used in time value of money

      The Simple Interest: in finding the time value of money, simple interest play a vital role in the finding the only the principal amount. Moreover, it can be calculated by using the formula: Principal * interest [r%]* time [t] ‘

      The Compound Interest: combined both the principal amount and any other interest earned but is yet to withdrawn from the system. Moreover compound interest typically applied in the most often used in time value of money applications. Example of this application can be :

o   The Future Value of GMD 50: to deposit 50 GMD today and allow to continue accumulating for specific period in future date. 

o   The Present Value of GMD 50: an amount that Muhammad can deposit day to yield GMD 50 at a particular future date.

o   The Future Value of an ordinary annuity of GMD 50: this type annuity normally deposited at the end of each period continue accumulating for specific period in future date.

o   Present Value of an annuity due of GMD 50: This is type of annuity

              Normally deposited at the beginning of each period for specific period in future date.  Please GMD is Gambian currency

INTEREST , TIME AND FREQUENCY OF COMPOUNDING
Chosen rate very year: 12%
Freq. of the Compounding	No. of year every period.	Interest Rate for every Compound	Formula  rate per compounding
Monthly	1%	12	12\1
Quarterly	3%	4	12\4
Semi-annual	6%	2	12\2
Annual	12%	1	12\12

                                                                                                                

                Let me give some example of single sum calculation of future value.

1.    Smart technologist has deposited an amount of GMD 200000 today with us, moreover the interest rate offered is 8% and its frequency of compounding is Annual. Furthermore, the number of period is 6 years. Calculate the future value of this single sum.

                                                              Solution

Amount deposit= 200000,     interest offered= 8%,   frequency comp... Annual and    no. of years= 5

FV= PV * (1+R %) ^Y           FV = 200000*(1+0.11) ^5        FV = 200000*(1.11) ^5   FV= 200000*(1.58687) = GMD 317374

                 Secondly valuation of time in Islamic perspective, as we all know Islamic application of time value of money prohibit interest (Riba) from our economy and is not a new concept in Islamic jurisprudent. Moreover all the scholars of classical jurist have a talk on it indirectly in numerous areas financial transactions such as:

      Murabaha

      Bilateral Ibra ( da’ wa ta’ajjal )

      Stipulation of deferred period in loan (al-qard halam mu’ajjal)

      The Zakat al-dayn

                   Moreover, the reasons of deferred payment makes the deferred sale price of commodity to be higher than the spot price (thaman hal). Moreover the classical jurists justified the economic value of deferment by acknowledgment that the spot price of an assets is lesser than its deferred price. Islam didn’t recognized any loan for deferral based on TVM designed to benefit the lender, while it recognizing only qard hasan loan.

Economic value of time Shariah admits the concept time value of money prolong pricing sale of a credit, but it doesn’t approve “rental” on money loans. Furthermore time value is permissible in the circumstance of pricing an assets and Usufruct but it is not permissible any circumstance of an increment to the principle debt’s or loans.

                   Conclusion, It is evident that Islam recognized time value of money in it totality, both in practice and theory but different from the conventional perspective of finance. From theory base on predetermined increment and fixed in deferred sale as compensation, is permitted in Islam in a condition it is associated with the price of the subject matter of the contract. This means that deferment (ajal) will not be remunerated with a stipulated and fixed increment quantity in quarantine of price of the transacted commodity furthermore is it better for us to used economic value of time instead of the time of money.

Bibliography

Dawood. 2015. There are concept of time value of money in islam. june 30, . Accessed December 12, 2018. http://www.TVOM\Is There A Concept of 'Time Value of Money' (TVM) in Islam.htm.

Else Fernanda, SE.Ak., M.Sc. 2015. "The Time Value of Money Concept in Islamic Finance." icfi-sesi 17-25.

Khir, Mohamed Fairooz Abdul. 2016. "The Concept Of The Time Value Of Money: A Shari‘Ah Viewpoint." International Journal of Islamic Banking & Finance 2-15.

Robert. 2014 . What You Should Know About The Time Value of Money. June 17. Accessed Novembebr 10, 2018. http://www.What You Should Know About The Time Value of Money.htm.

How does Financial Inclusion contribute to rural poverty and what is the solution for it?

                         All praise is due to Allah, may peace, salutation and the blessing be upon the prophet Muhammad (ﷺ), his entire family, his companions and those that follow their footsteps with righteous until the last day. Indeed financial inclusion has drastically affecting the life of people in the rural areas, for the reason that people in the rural geographical areas who those not have enough money rather need the money, when they approach the bank to secure a loads. The bank asked for the collateral which make the poor people continue suffering because they cannot afford it. Moreover, this makes the life of poor become poorer which also leads to large amount of the money been channel from rural area to urban area, which cause shortage of money in circulation. Furthermore, it’s also lead to systematic withdrawal of money from the bank which make it worse as people will not have the ability to do transaction because of shortage of medium of exchange even with the ability and the knowledge to do the transaction leading the charges of the interest which makes the situation worse for the rural people because of the Riba.

                        In addition financial inclusion has tremendously contributed to regional poverty in flowing ways:

                         Firstly money flows from rural people to urban people, the funds is channel from the village to the town were in the business men, rich individual and large corporations are functioning enjoy better credit worthiness than the rural community; cause artificial shortage of money in our existing system in other to give worth to the otherwise fiat money. Moreover, which Lead to reduction of velocity of money and circulation of money in our community also have an impact on aggregate demand, total economic activities and unemployment. Rural people will need money but cannot be available to them because of shortage of it.

                         Secondly banks seeking collateral, which be in favor of urban people as they afford it and they have collateral. When the rural people have no financial inclusions, they their money with themselves and take load from different informal sources and lend it out to the needy without asking any interest for it. As result once financial inclusion was introduce to rural peoples, First and foremost you need have an account with them (open an account) in bank, then start depositing in your account. Later if a particular individual need a load them, you will be asked to provide the collateral before securing a load from them. This is where the problem is really because the rural people do not collateral, which mean they cannot secure a load from the bank; this is where urban area took an advantage of because they have the collateral and can afford it. Moreover, leading to urban area to be more develop and continue advancing and nevertheless rural area continue un develop and low standard of living, encountering a lot of difficulties and hardship in their communities.  

                         Thirdly rural people area left with less, as the rural people were left with small or little money circulation within the rural community. Moreover as we all know that money flows to the areas within the community were surplus are highly expected or were are highly received. Meanwhile the different of money from its role in making it easing trade to an instrument of speculation on the money market generate a situation in which an extra liquidity co-exists with a physical scarcity of capital.

                           Therefore As we perceived contrary to financial inclusion in our current monetary system can create, regional poverty which in an ideal world perception, was supposed to provide rural people with easy access to the credit. Moreover establishment of financial inclusion in the rural, has contributed to the regional poverty but can be solves by the used of the traditional base approach in eradicating or solving regional poverty. These are as follows:

      The Micro Credit

      The Islamic Credit

      The Commercial Credit Circuit [C3]

                            Firstly Micro Credit, as define by micro credit of 1997 summit as a programs which prolong the small loans to very poor people within a particular community to help themselves for their self-employment project and continue innovation to create income to cater oneself, the family and other relative” (Levin 2012). As we know micro finance is part of it which provides a broader range of finance services, must specially they make saving account available to the poor. As people come together to group known as “self-formed groups who are jointly accountable for the paying back of the debt [Loans]”. They all contribute to help each other in the process of paying back loans; moreover this can solved the “adverse selection”   and overcome poverty in our societies with the used of our local information. Maintain the loans payment the group used an incentive structure called peer monitoring. Furthermore, this helps to monitor each in the process to make so that the participant make good use of the fund provided because as such the  defaulters  will likely to join, this is process is more efficient than bank even (Stiglitz 1990).

                         Secondly Islamic Credit, as it is totally prohibited to deal with interest know as Riba, Islamic Credit have no problem with interest because part of their dealing. Their credit system is a lease based as an alternative to cash base system of given credit, they make sure it is expend on real economic activities. Moreover there is a chance of fund diversification for uses other than that requested for is eradicated. In Islamic incurring excessive is not encourage, the beneficiaries ponder this as religion requirement to pay back the debt. Indeed is improbable that the credit linked strives will happen between the members of an Islamic Micro Finance banks or other financial institution. Furthermore family is targeted instead of woman participants in the household; the poorest among the beneficiaries will be benefitted by incorporation zakat and waqf into the system (Khan 2008).

                        Thirdly the Commercial Credit Circuit [C3], is define as the mutual credit system where the related companies can make transaction using an internal exchange unit, example the value claims or invoices. C3 inject new form of liquidity in our community and accelerate real economic activities, by providing the chance to finance purchases with the seller within C3 community network by means of value claims which were the assets of the vender, but then again it’s in the form of illiquid account receivables. As a result this injection new liquidity significantly increase the total amount of purchasing power accessible in the market, extra sales, retailers from wholesaler, cerate extra production, employment and income and profit resulting from circulation of more means of payment.

                      In conclusion financial inclusion, causes regional poverty through flow of money from rural areas to urban areas, people in rural area getting poorer and urban people getting richer. Moreover seeking collateral from the people rural area knowing that they cannot afford it while people in the urban area can afford it and left the rural people with less money in circulation. The traditional base approach was establish to solve this regional poverty.

Jazakallahu kahair

Bibliography

Dunne, Bernard Lietaer & Jacqui. 2010. "How New Currence Turn Into Scarcity and Prosperity ." Rethinking Money p: 121-128.

Khan. 2008. Solution to the regional poverty (Islamic Micro Credit0 .

Levin. 2012. Regional Poverty .

Science, Direct. 2015. Microfinance and Poverty Reduction. Jully 03. Accessed November 17, 2018. http://www.Microfinance and Poverty Reduction%20 A Review and Synthesis of Empirical Evidence - ScienceDirect.htm.

Stiglitz. 1990. Tradtional Approach of Solving: Micro Credit.

The reasons of the 2008 Financial Crisis from the perspective behavioral finance and lesson learned

                     All praise is due to Allah, may peace, salutation and the blessing be upon the prophet Muhammad (ﷺ), his entire family, his companions and those that follow their footsteps with righteous until the last day. Indeed, behavioral finance play vital role in finance and it tells us how people behave in finance. In general behavioral finance is the combination of both psychology and Economics. Moreover, how individual perceived in an economy varies due to their behavior for that reason, their financial behaviors are different. The all kinds of crisis occur because of the behaviors of the people in regard to the finance etc. however, financial crisis according to the research 2008 finance crisis is said to be most serious crisis ever happen in history of the great depression and it has been the talk of the world “as an eye-opener of the other finance institutions” to learn from very vital topic.

   Furthermore, there are so many reasons for 2008 financial crisis one of which are detrimental to the economy progress and development:

      New Market Failure.

      Financial frictions and lack of system insurance.

      Securitizing of Loans.

      Growing current account deficit and lower interest rate.

      US Government pushes to housing and mortgage e.tc.

                     Firstly New Market Failure, increase a lot and suddenly in number and perhaps more deceives, well beyond the outer limits of the evident asymmetry paradigm, profoundly involving the newer and a smaller amount of familiar territory of the  collective cognition and collective action paradigm.

                     Secondly financial frictions and lack of systematic insurance, this led the amplification result of influence that were not accurately internalized by individual agents. As a result it lead to undervalue the social advantage of liquidity in crisis state and take over the socially undue level of systemic risk, primarily via leveraging up steeply and with excessive dependence on wholesale short-term subsidy (Brunner Meier 2008; Brunner Meier and Pedersen 2008;Korinek 2010).    

                     Thirdly Securitizing of Loans, is among the reason of 2008 financial crisis in which the mortgage lenders securitize their loans that permit them to eliminate all danger of affections or exposures; it is a requirement before you borrow mortgage, you must give your real assets as collateral to receive the loans. Moreover, if the borrower is unable to settle the loans the institution of mortgage banks will take the ownership of the real assets used by the borrower as collateral. As result the debt is always in progress everyday increasing goods and services at the increasing rate in their system.   

                     Fourthly growing current account deficits and Lowering of interest rates, this is the main reason for 2008 financial crisis it has been designed in such way that default cannot be avoided because the way they designed their system; this also cause the lack of physical cash in their system which lead to the people facing a lot of difficulty. Moreover, people became the slave of financial institution because of the adverse effect of increasing of debt. As a result lowering the interest rate leads to financial crisis which in other way tantamount to an increment of demand for money and amount of debt in circulation is at increase rate for the price of goods and services at a high rate. Furthermore, people were not unable to pay for every bit of their payment of debt they should pay.

                    Fifthly the US Government Pushes to Housing and Mortgages, US government is among reason for the 2008 financial crisis due to their policies changes by the and move to the mortgage& residential housing. In regards to residential housing US government request the prices to increase for the reason that people desire for the mortgage increase, as a result quit low quality mortgage was supply for them at the market. Moreover, amount of money in the circulation of their economy increase people, for that being the case, people used anything in their possession just to have their own home and for the mortgage lenders at large.

                    The lessons we learn from the 2008 global financial crisis are as follows:

                      Firstly central bank need to do something to control the liquidity bubbles and assets bubbles. It adversely affect a particular society if they permit to build, comprising recessions with property losses, attendant job losses and long term losses without growth  or slow growth . Besides it’s very difficult when the economy stimulus pressures are intense for supervisor to do job this automatically lead to the financial crisis.

                     Secondly Assets Allocation analysis, the perception that people in regarding risk is that they always want to allocate their resource or assets to that of free risk; which is difficult to see “knowing Allah (S.W.T) is in control. Besides people should know, they need to put their resource in order to make the system stable with management of this resource without exploitation because it will lead to financial crisis. The state government must intercede in case of exploitation of these resources, people pursue their own self-interest in regards to their behavior in the direction of finance; private business pursue their own future betterment, without considering the nation.

                   Thirdly diversifying long term investment, what people don’t perceived in diversifying their  investment, as wanting the instance return or benefit from their investment which in most event lead to financial crisis. Besides the people have to invest their capital in many businesses and make a long term investment in real assets its help the capital growth and diversifying portfolios can also diminish financial crisis. With the reason that without diversifying the business; when loss occur, the only option for you will be taking of loans. Taking loans the debt will be continue at an increasing rate and at end you will not be able to settle all of debt rather be debt slave.  

                 Fourthly have lending partner not a lending facility, introduction of commercial credit system to the societies can diminish financial crisis. Commercial credit start with lending each other within ourselves instead of using bank lending facility. Mutual credit or commercial crisis will not occur but financial crisis occur because of mortgage and banks loans which is detrimental to us, control us and make us slave because of debt. Furthermore lending within ourselves not involve any of these, rather can conveniently use automatic set-off if there is scarcity of physical cash , will diminish financial crisis.

                  In conclusion, as we learn that psychology play vital role in area of behavioral finance and as which the people perceived it differently in regards to the economy; as we pursue our self-interest and investment behaviors were in must case run us down  is one of the reason lead us to the financial crisis. Furthermore I will encourage people to used commercial credit which did not have any negative effect, less avoid taking of loans from the bank.

                                    Jazakallahu khair WA Salam

Bibliography

Ludwig, E. A. (2008). Lessons Learned from the. The William Taylor Memorial Lecture Series, 13-14.

Rimkus, R. (2006, August 17). The Financial Crisis of 2008. Retrieved from The economic Crisises.Org: http://www.economicrises.org/2016/17/the financial crisis-of-2008

Wlliam.c., D. (2017, November 06). Lessons from Financial Crisis. Retrieved from Newyorkfed.org/ newsevents/speeches: https://www.newyorkfed.org/newsevents/speeches/2017/dudd171106

The issue of men's clothing is often overlooked in reference to sports and requirements during Salah

                      All praise is due to Allah, may peace, salutation and the blessing be upon the prophet Muhammad (ﷺ), his entire family, his companions and those that follow their footsteps with righteous until the last day. Indeed Clothing is one of the thing that Allah (S.W.T) has bless us with and bestowed upon His slaves to cover themselves. Therefore to covers the one ‘awrah and safeguards against cold and heat which Allah (S.W.T) has bestowed this blessing upon his slaves.  As Allah (S.W.T) said in the glorious Quranic that:  “O Children of Adam! We have bestowed raiment upon you to cover yourselves (screen your private parts) and as an adornment; and the clothing or raiment of righteousness, that is better. Such are among the Quranic Ayat as a [Evidences, proofs, sign, verses and revelations etc.] (Quranic, Verse: 7:26) And He also said in another Ayat that: “has made for you garments to protect you from heat and cold, coats of mail to protect you from your [mutual] violence. Thus does He perfect His favor unto you, that you may submit yourself to His will the deen (Islam).” (Quuran, Verse: 16:81)

                   The rudimentary principle in relation to clothes is that they are permitted, and moreover Muslim can wear whatsoever he wants of things that he has made or others have made for him that of Muslims. This is what the Companion of prophet (ﷺ) may Allah (S.W.T) be pleased with them all) did in elsewhere and in Makah. Therefore those that became a Muslim didn’t wear special clothes that were just for them. It was evident that the beloved Prophet (ﷺ) wore Yemeni cloaks and Syrian clothes and the people that tailor them were not even a Muslims. Furthermore no what the situation is must meet the conditions required by the Islamic law (sharee’ah). Moreover, Imam Muslim (may Allah be pleased him) in sahih narrated from Umar that: “He wrote to Muslims in in Azerbaijan saying that: “Beware of luxury and the clothing of the people of shirk.” (Muslim, Number: 2069)

                   Furthermore, Muslim mode addressing is very vital talk to be talk about, which is very sensitive a days. Will like to start with the following:

1.       The men's clothing in regards to sport

2.      The men’s clothing in regards to salah

                      Firstly, men need to wear long sheath to cover their Awra in sport; if they do not cover their awra is haram for them to wear in sport, is as just as if the women did not cover her awra is haram both are haram. Short sheath like the arm of the man awra..? No the arm of the man is not awra, so therefore wearing short sheath is not haram. The awra of the man start from navel to the knee that is the awra of the man. So when the man must wear garments that covered area of the awra. Moreover we have to identify what is been covered mean, because if been covered mean simply mean you have material over that area; we have recognized that the principle that governs the woman awra, is the same principle that governs the man awra. So let us be honest with the deen here to avoid the prohibited, what is the prohibited that we wear garments that export our awra; left us reflect on this and be serious. As Allah (S.W.T) said: “enter into Islam completely and are you believing the part of the book and disbelieving in another part. Therefore you believing in the women to covered their awra but you don’t believing for the men covering is ok I’m a man I have to go and work   and so I have to wear this pants which export, shows the shape of my size and more than my size.

                 Moreover, men clothing in regards sport; the guard line that prophet (ﷺ) gives us in regards to this clothing. As Al- lajnah al- Daa-imah give the Fatawa that: “It is not acceptable for we the Muslims to imitate the disbelievers in any of their mode of clothing by wearing tight garments that export the shape of their ‘awrah, or via wearing thin and see-through garments that export their ‘awrah and do not cover it, or via, forearms, wearing short garments that doesn’t cover the chest, neck, head or face.”  An exemption is made in the circumstance of that for which there is Islamic Shariah proof that it is prohibited or makrooh, for instance silk for men, or that which exposes the ‘awrah for the reason that it is thin and expose the colour of their skin beneath it, or for the reason that it is tight and expose their shape of the ‘awrah, for the reason that in that case it is like exposing it, and exposing it is prohibited. Likewise, clothing which is worn exclusively by the disbelievers is not allowed for men or for women, because our beloved Prophet (ﷺ) prohibited imitating the disbelievers.

                    Furthermore, according to sheikh salih al-Fawzan (May Allah be pleased with him) stated that: “It is permitted to wear the clothes of disbelievers provided that they are not known to be naajis, for the reason that the rudimentary principle is that when those things are pure and are not altered in doubt. Consequently, the cloths they have dyed and woven is permitted, because our beloved Prophet (ﷺ) and his Sahabas used to wear things that had been woven and died by the kuffaar.” We can used disbelievers their thing which are naajis and pure in sport but our Awra must be preserved not to be expose outside in sport. Whatsoever we are going to do our deen comes first and be observant with things that conformity with Islamic shariah. Moreover according to Mulakhkhas Figh stated: “It is prohibited for a Muslim to imitate the disbelievers in clothes that are exclusive for them, whether be a clothing or anything of it kind, but then again whatsoever is not exclusive to the disbelievers, we can wear them there is nothing wrong with it. Therefore it is permissible for men to wear tight T-sheath or very tight sheath for a man is permissible because the upper body of a man is not an awra, is not something that is forbidden to export but it is not recommended to export. Now when it is permissible or purpose for example if am going to GYM I may wear something like this. If I am going to for lifting iron, or in sport it is permissible in the areas related to it weapon, I don’t think is a sin unless is accompany by something else. It will be sinful only if to show women, show off or been arrogant to show people nobody has a body like mine.

                  Secondly men must their Awra and wear proper cloths in salah as it is legislated in Islamic law (shariah) Even do we know that one the condition for salah is that we covered the awra; we know that but yet we still up there with this pants, western pants and we   pray exposing our awra, is the salah accepted; we need to question ourselves here. If we wear western pants then we should wearing some kind of top which come down and covered the area of the awra, so that when we make ruku, sujud that awra is covered. Or we wear pants so baggy whether you are bending, seating or whatever is all the same. Don’t wear western pants, think and delude yourself into thinking that you have covered your awra because if you applied for yourself, you have applied and accept it from the women. Furthermore used pure clothing, long sheath or Muslim cloths which covered your Awra.

In conclusion Allah (S.W.T) has bless Muslim with clothing, preservation of our Awra not exposing it both in sports and salah which is very sensitive a days. Muslims just wear any kind of clothing they see, without given the condition to the area of the deen, observation of Islamic shariah in regards to the mode of addressing of Muslims and our Awra or modesty may Allah (guard and protect us) amen

Bibliography

Men’s dress code . (2009, January 22). Retrieved from Islam Question & Answer: http://www. reaerch/Men’s dress code - Islam Question & Answer.htm_2.htm

Munajjid, S. M. (2005, July 11). What are the garments of the kuffaar that we are forbidden to wear. Retrieved from Islam Question & Answer: http://www. reaerch/What are the garments of the kuffaar that we are forbidden to wear%20 - Islam Question & Answer.htm

Muslim. (Number: 2069). Hadith .

Quran Tutor.com. (2014, May 22). Retrieved from Islamic Dress Code for Men : http://www.2 reaerch/Islamic Dress Code for Men – Major Elements to Consider.htm

Quranic. (Verse: 7:26). Saratul: al-A’raaf .

Quuran. (Verse: 16:81). Suratul: al-Nahl .