The price I quoted for an item was $200.
Since the price quoted and agreed on was $200, the buyer has to pay you $200 regardless of the fluctuating rate. Either he transfers $200 to your account, or pay at the current…
Category
Finance - Banking - Business
810 answers.
A tenant closed his business which was a failure and showing only loss.
The 'damages' fee is not permissible. Since the tenant had a valid reason for premature cancellation, no fee of any kind may be charged.
A tenant has a lease, but does not occupy the premises.
A tenant has absolutely no right to sell his right to lease. The payment he receives in lieu of this right is pure Riba. Goodwill is not permissible. It is in the category of Riba.
Is advertising permissible? Is it in conflict with Tawakkul?
Advertising is permissible. It is not in conflict with tawakkul. However, exaggeration which is common to almost all advertising is not permissible. One has to only state one's…
A product of a Muslim businessman has a branded name which is exclusively for his product.
It is not permissible for someone else to 'steal' the brand name of another person. It is dishonesty and deception.
Is it permissible to buy a house by the mushaarakah-Ijaarah scheme?
The agreement is null and void in terms of the Shariah. It is a riba deal which is not permissible. A mushaarakah (partnership) combined with ijaarah (leasing), is baseless and…
Is a student's loan Mudhaarabah? Some Ulama in Europe and the U.K.
The 'fatwa' is hogwash and flotsam. A bank loan or a loan by any one is never Mudhaarabah. Mudhaarabah is a trading partnership in which profit is shared between the partners. We…
Is it permissible to charge a tenant a penalty for late payment of rent?
The penalty on late payment of rent is haraam interest. It is haraam to levy any punishment for late payment.
I owe an Islamic bank a large amount of money for a house which I had purchased in terms of their Islamic scheme.
Breach and default do not nullify the rights of the debtor. The breach/default does not grant the banks any rights except that it may demand payment of such instalments which are…
Are laybyes permissible? If yes, what are the rules?
Laybyes are permissible. When a deposit is paid by a customer, he/she becomes the owner of the item. The trader retains the item in his custody until full payment is received.…
Is it permissible to sell hookah pipes?
It is not permissible to sell hookah pipes.
When a partner in a business dies, what is the state of the partnership?
Death cancels the partnership of the deceased. His partnership is not transferred to the heirs. On the death of a partner, the financial state of the business has to be…
The business I intend to buy has a lotto machine which cannot be removed.
It is not permissible to operate the gambling machine. The income is haraam, and it is not permissible to use it to pay even one's haraam bond interest. Do not contemplate buying…
Is a student's loan Mudhaarabah? Some Ulama in Europe and the U.K.
The 'fatwa' is hogwash and flotsam. A bank loan or a loan by any one is never Mudhaarabah. Mudhaarabah is a trading partnership in which profit is shared between the partners. We…
Are motorplans permissible?
Motorplans which come with the cars are permissible. Buying such plans separately is not permissible. These plans are insurance schemes if purchased separately.
An employer charges his workers a service fee when giving them loans.
The 'service fee' which the employer charges for giving loans to his staff is haraam riba. It is interest which is haraam. The employer is a blood-sucker who thrives on haraam…
Is it permissible to become a franchisee and a franchisor?
It is not permissible to become a franchisee nor a franchisor. The dealings are riba and haraam.
I loaned an item to someone. He now says that he has lost the item.
The item you loaned to the person is in his trust. It is called amaanat. If he lost the item due to negligence, then you can ask payment. If it was not lost due to negligence, then…
Some years ago a group of persons purchased a house with the intention distributing the income to Deeni work in their village in Gujerat, India.
The benefits of the Waqf house have to be used in terms of the niyyat of those who had established the Waqf. The community had no right to take the Waqf house by 'force'. They had…
I wanted to know what is the fatwa regarding an organization called "Crescent Lifestyle" based in Johannesburg?
Don't be fooled by the charity prizes and charity chimera they are dangling in front of the public. Crescent Lifestyle operates like an insurance company. The deal you have…