What’s the Islamic ruling on options to buy/sell something in the future?

Q: Are two parties allowed to simply agree to an ‘option’ for both parties in the future? For example, A agrees to an option with B that A may/may not buy something in the future. Likewise, B also agrees to an option to sell/not sell in future. Is this allowed?   الجواب حامدا ومصليا ومنه […]

Read more...

Can I invest in premium bonds?

Q: Can I invest in premium bonds? The Al-Qalam Shariah Scholars Panel is respectfully requested to advise on the Islamic position regarding premium bonds. Are they a suitable way for Muslims to invest? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Premium Bonds are not suitable for Muslims to use as an investment […]

Read more...