Zapopan is a city and municipality located in the Mexican state of Jalisco. Part of the Guadalajara Metropolitan Area, the population of Zapopan city proper makes it the second largest city in the state close behind the population of Guadalajara proper, it is best known as being the home of the Virgin of Zapopan, an image of the Virgin Mary, made in the 16th century. This image has been credited with a number of miracles and has been recognized by popes and visited by Pope John Paul II; the municipality is the home of the Centro Cultural Universitario, which contains one of the most important concert venues in Latin America and is the home of the new stadium for the C. D. Guadalajara; the name Zapopan means "among the sapote trees". It derives from the Nahuatl word tzapotl "sapote" with the addition of the locative suffix -pan, it has the nickname of “Villa Exmaicera”, as it used to be a major producer of corn. Its seal was designed by José Trinidad Laris in 1941 for the 400th anniversary of the city's founding.

From 1160 to 1325 many Zapotec and Maya families migrated into this area from the south, with many settling in the Profundo Arroyo area. These first settlers mixed among themselves and with newcomers such as Aztecs and were known as Tecos. Many small shrines called “cues” were built here to worship the sun, although the primary deity was a god-child called Teopiltzintli or the corn god. By the time the Spanish arrived, Tzapopan was a large settlement, but it was in decline due to wars with various surrounding nomadic tribes, it was subject to the dominion of Atemajac called Tlatoanazgo, which itself was subject to the Hueytlatoanazgo of Tonalá. In 1530, this area was subdued by Nuño de Guzmán, but the establishment of a Spanish settlement of Zapopan did not happen until 1541 due to the Mixtón War. In that year Francisco de Bobadilla, encomendero of Tlatltenango moved 130 Indians from his lands to repopulate Zapopan. Accompanying them was an image of Our Lady of the Conception, which had traveled to areas like Zacatecas as part of evangelization efforts.

This statue would take on the name of Our Lady of Zapopan. The sanctuary for this image was begun in 1689. In 1824, Zapopan was named at the seat of one of the 26 department of the newly created state of Jalisco; when the departments were reorganized in 1837, it retained its status as seat. In 1873, General Ramon Corona fought against rebel forces led by Manuel LozadaEl Tigre de Alica” at Rancho de la Mojonera. In 1979, Pope John Paul II visited the Basilica of Our Lady of Zapopan. In 1991, the town gained city status in a ceremony that took place on 8 December, the 450th anniversary of the city's foundation; the flag of Zapopan is derived from a Nahuatl pictogram represented by the fruit tree of sapotes with a flag on its side. The name Zapopan comes from the Nahuatl word tzapopan, "place of sapotes". Zapopan is the second most populous municipality in Jalisco and is the seventh most populous municipality in Mexico. During the solemn session held on December 8, 1991, in which the 450th anniversary of the repopulation of the Villa Zapopan was celebrated, it was awarded the title of city.

The tourist attractions offered by Zapopan are diverse. It has different alternatives for ecological tourism such as El Diente, Bosque de La Primavera, among others. Within this municipality are located the best hotels in the Metropolitan Area, the largest show centers in Jalisco and museums that host exhibitions of local and international significance. One of the most important religious celebrations at the national level, the pilgrimage of the Virgin of Zapopan. Takes place in the same municipal seat. On October 12 thousands of Catholic faithful come to witness the return of "La Generala" to its compound, the Basilica of Zapopan; the typical food is the same as in the other municipalities that make up the Metropolitan Area but it is worth highlighting the elaboration of cymbals based on the corn, the tender corn cob. Zapopan is known as the "Villa Exmaicera" due to the large amount of expanse planted of this agricultural product; the existence of a pre-Hispanic town called Tzapopan located in the current municipal seat is much disputed by various historians, since the locality was never mentioned in documents of the time, unlike other localities of the present day municipality and municipalities adjacent to it, such as: Ixcatán, Tesistán, San Esteban, Copala, Tónala, San Sebastián de Analco, Santa Ana Atista, Juanacatlán, San Gaspar, etc.

This calls into question the existence of Tzapopan. However, for some experts; the inhabitants, over the years, were mixed with other tribes, such as the Aztecs heading to the Valley of Mexico. Tzapopan was founded by the Aztecs and tecuexes, from the beginning it was a religious city that had worshippers and shrines to the sun god, but the worship of this city was towards the god Teopiltzintli; the diet of the inhabitants was based on maize and fruits, they were dedicated to hunting and fishing. Tzapopan was a city with a large population; the conquest of

Sharia and securities trading

The Islamic banking and finance movement that developed in the late 20th century as part of the revival of Islamic identity sought to create an alternative to conventional banking that complied with sharia law. Following sharia it banned from its practices riba – which it defined as any interest paid on all loans of money – and involvement in haram goods or services such as pork or alcohol, it forbids gambling and excessive risk. This meant that not only were interest-bearing loans and bonds not allowed, but many financial instruments and activities common in conventional financial markets have been forbidden by most Muslim scholars because of their connection with maisir or gharar; these include margin trading, day trading, short selling, financial derivatives such as forwards, futures and swaps. This, however has not stopped the Islamic finance industry from using some of these instruments and activities, their permissibility is a subject of "heated debate". While they involve more risk than other investments and are used by speculators, they are defended as having useful economic functions.

They are used in a large number of financial procedures, help manage risk and volatility, provide incentives for employee productivity and innovation. The Quran states in aya 2:275 that "God has permitted trafficking, forbidden usury", but not all trade is allowed in Islam. The Qur'an prohibits gambling. While the Quran does not mention gharar, several ahadith prohibit selling thing like "the birds in the sky or the fish in the water", "the catch of the diver", or an "unborn calf in its mother's womb"; these have been called bayu al-gharar. Jurists have distinguished between this kind of forbidden gharar, gharar considered minor and so permissible, but disagree, over what constitutes each kind, have not agreed on an exact definition of the meaning and concept of gharar. FiqhThe Hanafi and Shafi'i madhab define gharar as "that whose consequences are hidden," the Hanbali school as "that whose consequences are unknown" or "that, undeliverable, whether it exists or not." One modern scholar of Islam, Mustafa Al-Zarqa, defines gharar as "the sale of probable items whose existence or characteristics are not certain, due to the risky nature that makes the trade similar to gambling."

Used financial instrument and practices that are considered haram are: margin trading: borrowing money to buy shares of stock or other financial instruments. Unlike futures contracts forward contracts are not traded on any exchanges. Options, futures and "other derivatives" are "generally" not used in Islamic finance "because of the prohibition against maisir". Margin trading, day trading and futures are considered prohibited by sharia by the "majority of Islamic scholars". Margin trading involves interest payments in margin accounts, day trading is not concerned about the underlying product or economic activity of what is traded. One source states "gharar is observed within derivative transactions such as forwards and options, as well as in short selling and in speculation." Juan Sole and Andreas Jobst write that "legal scholars" have alleged that derivatives "contain excessive uncertainty" and "encourage speculative behavior akin to gambling". According to economist Feisal Khan, derivatives "fail" the tests of Islamically permissible by lacking `materiality`, involving speculation.

Furthermore, "almost all conservative Sharia scholars" have ruled that `when applied to modern financial contracts, the prohibition of gharar eliminates futures and some life assurance contracts`". Taqi Usmani forbids most futures transactions because their "delivery or possession is not intended and therefore the niah of the contracting parties is questionable". Investopedia states "In Islamic fina