Is trading “covered warrants” on the stock market permissible?

Q: Is trading “covered warrants” on the stock market permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Warrants represent a right to purchase an asset similar to a call option and do not represent the underlying asset itself. Thus, they cannot be traded.

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Can I accept a marriage proposal from an investment banker?

Q: Can I accept a marriage proposal from an investment banker? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: There is no sin in the marriage itself. However, if the marriage does go ahead then he will remain obligated to provide your maintenance via halal means and you should continue to encourage and urge him […]

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Is gold bought for personal use subject to Zakah?

Q: Is gold bought for personal use subject to Zakah? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Yes. According to the Hanafi opinion, gold and silver are always subject to Zakah, irrespective of whether it is for personal or business use, whether it is in nugget, coin, jewellery or other form. Gold is considered […]

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What is the Shari’ah position with regards to zakah on Murabaha home purchase plans?

Q: What is the Shari’ah position with regards to zakāh on Murabaha home purchase plans? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Under the Murabahah home purchase plan the client incurs a debt for the balance of the purchase price that is payable over an extended period [typically 25 years as mentioned]. […]

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Do I have to pay zakah on my salary, if I haven’t received it?

Q: What is the ruling in relation to zakāh on my salary? For e.g. an individual who is paid his salary at the end of the month has to calculate his zakāh on the 25th of the month. Does he have to pay zakāh on the proportion of salary owed to him on the 25th […]

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How much should I be paying as child maintenance to my ex-wife?

Q: How much should I be paying as child maintenance to my ex-wife? The issues I have are quite straightforward. How much should a man be giving as maintenance to his wife/ex-wife for the children because the amount calculated by the Child Support Agency is ridiculous? Also, how can it be justified if the father […]

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Is it permissible to over claim benefits by under-declaring income?

Q: Is it permissible to over claim benefits by under-declaring income? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: It is not permissible to over claim benefits by under-declaring one’s income. Any excess benefit fraudulently received in this manner is unlawful and must be returned to the state. However, if the excess benefit […]

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Is it a priority to give Zakah here locally, to the needy in the UK or to the poor abroad?

Q: Is it a priority to give Zakāh here locally, to the needy in the UK or to the poor abroad? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: There are several competing reasons as to how and where we should pay our Zakāh. For example: it is commendable to distribute Zakāh amongst relatives as […]

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Is Zakat payable on wealth not held in possession for the entire year?

Q: In the beginning of the year 2014 my husband and I were looking to purchase our first home.We are currently renting privately. I had about £50,000 savings. We both work full time and our salaries were going to contribute to the eventual purchase (as it takes about 12-16 weeks for completion and all monies […]

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Am I allowed to give zakat to my husband’s mother?

Q: My husband’s family live abroad, they are not well off at all and his mother needs cancer medicine.  I think his father would have savings above the nisab (and not be eligible for zakat) but his mother on her own doesn’t have her own savings, would it be permissible to give my zakat directly […]

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Zakat on real estate assets listed as “for sale or let”

Q: My question is how should real estate assets which are on the market as “for sale or let” be treated in realtion to zakah. Are they to be treated as trade stock or as rental stock? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: This all depends upon the intention with which the real […]

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Can we deduct the deposit due (e.g. for purchase of a house) and stamp duty from zakat calculation?

Q: 1. Before the start of Ramadhan, we agreed on the purchase of a house from Al-Rayan Bank. The property price has already been agreed and the solicitors are already involved with paperwork Insha’Allah to go through soon. I have money in my bank account but of course I am also liable to pay to the […]

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