A person bought dollars at R8. Now the price is R7.35 for a dollar.
The parties may mutually fix the price for the dollars. It is not necessary to adopt the current bank rate. Any price could be mutually arranged for the dollars regardless of the…
Category
Finance - Banking - Business
810 answers.
Is it permissible to purchase an asset (car or property) which the bank has repossessed?
If the bank which had repossessed the house is a non-Muslim one, then the purchase of the property is permissible. If the bank is Muslim-owned, e.g. Albaraka Bank, Oasis, etc.,…
I have been approached to provide electrical designs and plans for a shopping complex/centre.
The money which you have earned from the electrical designing project if the shopping complex and the hotel is halaal. You are not responsible for what the rooms are hired out to…
Is HBZ Bank which is a subsidiary of Habib Bank an Islamic bank?
"Shariah Compliant" is a new expletive which the riba-hungry Muslim capitalists have coined to dupe the ignorant Muslim public. The fundamental principle which Muslims should…
Is it permissible to accept a gift of money from someone who received the money from another person whose earnings are haraam?
It is not permissible to accept money from people who received it from those who have haraam money.
Are royalties permissible? For example, the chicken plants pay the halaalizers a royalty on every chicken slaughtered?
Such royalties are haraam riba and extortion.
Is it permissible to sell gold plated or silver plated rings?
It is not permissible to sell imitation rings even if gold/silver plated since it is not permissible to wear such rings.
In a business deal, R400,000 was paid as 'Key Money'.
The transactions are haraam. 'Key Money' is haraam riba. The landlord has to compulsorily refund the R400,000 which was paid to him. The further haraam goodwill to be paid to him…
I was given presents. I have now discovered that the items are stolen property.
If you are aware of the owner of the goods given to you, then it is Waajib to return it to him/her/them. If you are not aware, then ask the one who gave you the items, who the…
A few days after I purchased an item, I discovered a defect in it.
You may not insist on the owner to refund you a few dollars for the fault/ damage in the article. You can however return the item and take back the full amount you had paid.…
Is it permissible to be a bookkeeper for a bottle store?
It is not permissible to be the bookkeeper of a bottle store or of any haraam institution.
Is it permissible to sell dead chickens for feeding crocodiles which a company breeds for skins, etc.?
It is not permissible to sell dead chickens even if it is for feeding crocodiles. It is also not permissible to allow a company to collect the dead chickens if it is known that the…
Is Takaful insurance permissible?
Takaful insurance too is unlawful in terms of the Shariah. Takaful is the same as conventional insurance. Giving fancy, 'Islamic' sounding names does not change the nature and…
Someone gave me a free ticket. Is it permissible to sell the ticket?
If the ticket you are referring to relates to a haraam function, e.g. sports, then you have to tear it up and throw it away. It is haraam to aid and abet in the commission of sin.…
A father invested in stocks for his son when he was young and then gave it to his son.
These stocks are haraam. He should give the money to the poor and not use it for himself. The stocks are in the category of riba (interest).
A son inherited shares (stocks) from his father.
The money which the son acquired from the stocks should be given to charity. It is not permissible for the son to inherit it.
Is it permissible to sell hair extensions, braids, weaves and wigs?
Selling hair extensions, braids, weaves and wigs is not permissible. Rasulullah (sallallahu alayhi wasallam) cursed women who adopt such methods of adornment. The income derived…
Is it permissible to invest in NBBEE shares?
It is not permissible to invest in NBBBEE shares nor in any other kind of shares. These are all dealings of riba.
Is Albaraka Bank's Future Growth Equity Fund permissible?
Albaraka Bank's 'Future Growth Equity Fund' is not permissible. We have explained this issue in a book. If you are interested in the book, please provide your postal address. This…
I had usurped a large amount of money some years ago and started a business which yielded much profit.
You have to incumbently return the usurped money to its owners. The profit is haraam. It has to be compulsorily given to the poor without niyyat of thawaab. If you wish, you may…